Fraud and Financial Crime Investigation Careers

A Growing Need for Qualified Fraud and Financial Crime Investigators

The need for fraud and financial crime investigators in both the public and private sectors of employment is growing. According to the 2012 Report to the Nations published by the Association of Certified Fraud Examiners, the cost for occupational fraud—both financially and to an organization's reputation—can be acutely damaging1. The report also states that targeted fraud and economic crime awareness training for employees and managers is a critical component of a well-rounded program for preventing and detecting fraud.

A 2014 Gartner study, as reported by the Wall Street Journal, said, "Hundreds of U.S financial companies are ramping up spending to combat hackers following attacks this summer on J.P. Morgan Chase & Co. and at least a dozen other firms." The report goes on to highlight how increased spending in the banking industry translates into job opportunities for economic crime specialists, encompassed by broader information security measures. "The money spent by banks goes to a range of places, from higher salaries for cybersecurity executives to more consultants and programs that are more resistant to hackers."


Image credit: Gartner, The Wall Street Journal

Organizations are actively looking for qualified people to perform investigations and help prevent economic crime from occurring. Employment opportunities exist across a wide variety of fields, including banking and financial institutions, insurance companies, health care, manufacturing firms, the service sector, computer and software companies, transportation and utility services, the wholesale and retail trade, and law enforcement, as well as private consulting and auditing firms.

The program offers two concentrations:

Job Profile: Forensic Accountant

Median pay: $64,987
Top pay: $108,525
Job growth, 20-years: 13%
Job Description:
•   Conducts thorough forensic research to trace funds and interrelated transactions as well as identify assets for recovery
•   Analyzes business and personal records to profile invididuals or groups suspected of illegal activity
•   Gathers evidence and prepares analytical data for warrants, affidavits, litigation and judicial proceedings
•   Compiles findings and conclusions into financial investigative reports
Best Cities: New York, NY; Richmond, VA; San Mateo, CA; San Francisco, CA; Chicago, IL; Portland, OR; Los Angeles, CA; Houston, TX2

Positions available to you with the Financial Investigation concentration may include:

  • ::  Asset Forfeiture financial specialist
  • ::  Internal fraud auditor
  • ::  Forensic accountant
  • ::  Health care investigator
  • ::  Bank examiner and investigator
  • ::  Tax crime investigator
  • ::  Securities fraud analyst

Job Profile: Senior Internal Auditor

Median pay: $71,233
Top pay: $90,427
Job growth, 20-years: 13%
Job Description:
•   Analyzes processes and performs testing procedures, tailoring audit programs to meet specific business needs
•   Plans and performs audits to review systems for adequate controls
•   Conducts operational, compliance, financial and Sarbannes-Oxley (SOX) audits
•   Applies knowledge of auditing theory and Internal Control-Integrated Framework (COSO)
Cities with Demand: New York, NY; Chicago, IL; Atlanta, GA; Boston, MA; Houston, TX3

If you choose the Fraud Prevention and Detection concentration, you may find opportunities as the following:

  • ::  Anti-money laundering analyst/investigator/compliance specialist
  • ::  Credit/debit card fraud investigator
  • ::  Fraud detection analyst
  • ::  Insurance claims investigator
  • ::  Internal fraud investigator/auditor
  • ::  Fraud prevention/risk analyst

Whatever your chosen path, your new financial investigation skills will make you a valuable asset to any organization.

For more information about the Online Bachelor of Science in Fraud and Financial Crime Investigation, Request More Information or call 315-732-2640 or toll free at 866-295-3106 to speak with a Program Manager.

1 "2012 Report to the Nations," http://www.acfe.com/rttn-conclusions.aspx
2 Information compiled from Payscale.com, BLS.gov, FBI.gov and ThinkAdvisor.com.
3 Information compiled from Payscale.com, BLS.gov, and Indeed.com.