Evaluate organisation's potential for occurrence of fraud and develop fraud risk awareness throughout the organization.
Skill Code: T120
Level 1
Demonstrates a basic understanding of fraud risks, detection techniques, and relevant regulations. Assists in identifying potential areas of vulnerability within the organization under supervision. Gains familiarity with fraud risk indicators and internal control mechanisms designed to prevent fraudulent activities.
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Level 2
Supports fraud risk assessment and monitoring efforts by analyzing transaction patterns, identifying irregularities, and documenting findings. Collaborates with teams to implement controls and preventative measures. Contributes to raising fraud awareness through training and communication initiatives within the organization.
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Level 3
Independently conducts fraud risk assessments, identifying vulnerabilities and proposing effective mitigation strategies. Implements and monitors fraud prevention controls, ensuring alignment with organizational policies and industry standards. Investigates potential fraud cases, prepares detailed reports, and recommends corrective actions.
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Level 4
Leads fraud risk management efforts across the organization by designing and implementing robust frameworks for prevention, detection, and response. Ensures compliance with regulatory requirements and industry best practices. Develops advanced fraud monitoring systems and provides strategic guidance to teams on managing fraud risks effectively.
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Level 5
Shapes the organization’s approach to fraud risk management by developing innovative strategies and setting new standards for fraud prevention, detection, and investigation. Anticipates emerging threats and adapts frameworks to address evolving fraud risks. Champions a culture of fraud awareness and resilience at all levels of the organization.
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Financial Skills Framework