10

The Counter-Fraud Professional

10.1 INTRODUCTION

This chapter will consider the importance for an organisation – whatever the size – of employing a counter-fraud professional. This may seem like an extravagant expense, but there are a variety of economical models which can be used to achieve this aim. For example, small organisations can contract in the services of a professional for a selected number of days, depending upon their needs, or they can train a member of staff to take on these responsibilities in addition. For medium to larger organisations, the risks of fraud are likely to warrant much more investment in the resource, ultimately culminating in a full-time position or multiple positions. There is no ‘one size fits all’ and clearly the size, complexity and nature of fraud risks vary significantly between organisations. This chapter will consider what counter-fraud professionals look like and the professional infrastructure, and consider some of the changes required to enhance this. It will also consider what the skill-set of the counter-fraud professional should be.

10.2 COUNTER-FRAUD PROFESSIONAL INFRASTRUCTURE

Throughout this book a wide range of strategies have been advocated to create the best solutions to counter fraud and lead ultimately to competitive advantage for the organisation. Underpinning all of this is having (whether employed directly or via a contract) an appropriate counter-fraud professional (or professionals – depending upon the size of the organisation) ...

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