Risk Assurance training Needs to be more focused

Risk Assurance training Needs to be more focused
Author: Neural Technologies
Date: 25th July 2016
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Effective training within the risk and assurance sector is lacking.  This was one of the key messages coming out of the Risk and Assurance Group (RAG) summer conference (where Neural Technologies’ Hayley Daniels is a committee member) at which 38 Telecoms professionals provided their perspective on RA in the telecoms market. 

A leading executive from BT emphasised the importance of developing and retaining the people in their team, whilst explaining the evolution that had occurred within BT around fraud and revenue assurance. This was the first in a chain of discussions that raised the issue of education in the Fraud and RA industry, with the majority agreeing that many of the training courses and training providers out there are either unfit for purpose or irrelevant to the needs of the industry.

It was suggested that a proposal for a collaboratively-developed training program with inputs from both academia and industry practitioners would be one of the best routes forward. We should all keep an eye out for this, as this could effectively address the industry’s need for suitably experienced tutors as well as relevant training materials. In any case, the need to continue educating staff, customers and the industry as a whole was recognised as key to effective revenue assurance and fraud prevention.

From the basics down to detailed analysis and best practice, information needs to the shared on ways to engage law enforcement. At Neural Technologies, we have the Optimus Law Enforcement Agency module, which is currently in use by Safaricom, Kenya’s leading mobile network operator. Our team also provides fraud management and RA consultancy to assist customers and industry professionals to link with relevant authorities and bring fraudsters to justice.

Three Key Take-aways from the RAG Conference

Collaboration - where a business functions in silos there is weakness – and fraudsters will expose any weakness that they can.  With organisations like RAG, TUFF and the TM Forum giving those working in the industry the opportunity to share ideas and best practice, we are stronger.

Evolution - subscription fraud has been around for many years but now we can – and must – use advanced analytics and even social network tracking to identify fraudsters’ networks and close them down.

Education - the need to continue educating staff, customers and the industry as a whole is key to effective revenue assurance and fraud prevention. Neural offers training and consultancy to the telco industry and experts therein on fraud and risk management, including formal and informal reporting and auditing.

Risk Assurance training Needs to be more focused

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