Fraud Investigator Job Description

The Merriam-Webster Dictionary defines fraud as an "intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right." In most cases, fraud is a crime. A fraud investigator is engaged by his employer or client to deduce whether fraud has been committed. He may work in a variety of industries.

Job Responsibilities

When assigned a case, a fraud investigator thoroughly reviews all materials, interviews claimants and witnesses, and locates records in an effort to collect and disseminate evidence that relates to the claim. He conducts covert surveillance from his vehicle to record the activities of claimants and witnesses. After collecting each piece of evidence, he creates a report that details his findings. Presenting it to his manager or client, he deduces where fraud has been committed or not.

Job Opportunities

Fraud investigators are employed within a variety of industries including insurance and banking. Many of these professionals, however, are employed by private investigation companies or work as independent contractors. Fraud investigators may also find jobs with the United States Government. Those seeking work within the public sector may apply directly to the hiring agency. Opportunities within the private sector are often posted on Internet job boards. Alternatively, these roles may be found in newspaper classifieds. Trade groups, such as the International Association of Special Investigation Unit, offer job search resources to its members as well.

Qualitative Requirements

Employers seek many intangible qualities when hiring a fraud investigator. A candidate must be excellent communicators, in written and spoken work. Because she will be investigating crimes, she must be honest, ethical and perform with a superior level of integrity. As such, she must successfully pass drug and criminal background examination to gain employment. Say may also have to possess a valid driver's license, maintaining a clear driving record. In addition, she must be comfortable with occasionally working non-traditional hours, including nights, weekends and holidays.

Educational Requirements

Most employers require qualified candidates for this role typically possess a four-year degree. Sociology and criminal science are common majors; however a related field of study will suffice. Some employers will overlook this educational requirement if a candidate has substantial experience within the industry. The International Association of Special Investigation Unit offers formal certification for those who seek additional credentials to increase their marketability. Certification is received after the successful completion of coursework and examinations.

Average Compensation

The employment of claims adjusters, appraisers, examiners and investigators, according to the United States Bureau of Labor Statistics, is anticipated to grow by 9 percent through 2016. A fraud instigation officer employed in the United States earns a salary of $55,307, according to Salary.com in 2009.

References

• Salary.com
• U.S. Department of Labor; Claims Adjusters, Appraisers, Examiners and Investigators
• Jobs at Indeed.com; Fraud investigator

Resources

• International Association of Special Investigation Units