The incumbent shall be responsible for the Bank's Fraud Risk Management Programs including but not limited to fraud risk assessment reviews, MIs and exception reports reviews, aggregate & residual fraud risk reporting, providing assurance that fraud risk adheres to approved risk appetite and providing industry guidance/reporting around emerging fraud risk threats and trends, conducting fraud risk awareness campaigns and training. The key area of focus will be to assist businesses with implementing initiatives & processes to minimize fraud losses.
Develop Anti-Fraud Risk Strategies and programs to mitigate fraud losses , set up the fraud detection systems, controls and techniques for fraud prevention and early detection.
Create awareness of market fraud trends including Application Fraud, Cards Transaction, and Payments Fraud monitoring.
Monitor and investigate suspected Fraud casesroot causes in line with the developed policies and procedures.
Setup Cards authorization parameters and optimizing fraud detection tools
Establish best in class industry practices to minimize frauds.
Promoting Anti-Fraud control culture among the Front-Line Staff members as well as other areas within the Risk team.
Work closely with other functional areas including Credit Underwriting, Policy, Operations, Business, and Sales teams to optimize business strategies and minimize frauds.
Actively participate in Audit and legal control activities and periodically report audit incidents to the concerned committees
Undertake research on fraud patterns by tracking confirmed fraudulent transactions to develop rules to prevent and detect fraud.
Ensure management is appropriately informed of all fraud related activities and any significant concerns and provide appropriate mitigation plans.
Oversight on proactive Fraud Risk Management Program using data extraction, data analytics and information management reporting.
Develop a QA program that assesses the ffectiveness of the procedures developed and used by the operational units managing fraud risk.
Participate in development and monitoring of product life cycle to maximize the efficiency, effectiveness and overall quality of products.
Perform post fraud control reviews to identify and make appropriate recommendations to remediate any control environment fraud and or m isconduct gaps.
Track unresolved items to provide a record ofactivities and support identification of trends or persistent issues.
Professional Qualifications and Experience:
A Bachelor's degree in Mathematics, Analytics, Criminology or a related field.
At least seven (7) years’ experience in a similar role in the banking sector (2 years of which should be in the Banking industry)
Have a strong understanding of banking operations, systems, and controls
Professional qualifications in Fraud Risk Management, Systems Audit, Data Analytics will be an added advantage
Proficiency in information technology and relevant Information Security Certification i.e. CISSP, CISA / CISM, ISO/IEC 27001 will be an added advantage
Extensive knowledge and understanding of Criminal law
Good understanding of CAAT’s (Computer assisted auditing tools) will be an added advantage
Experience mitigating online fraud such as account takeover, phishing, online card testing as well as other current fraud schemes.
Skills/Competencies:
Strong interpersonal skills with the ability to interact with all levels of internal & external stakeholders
Honesty and Integrity
Willingness to lead, take charge and offer opinions and direction
Excellent planning, organization and execution skills
Critical thinker
Attention to detail
Decision-making and communication abilities
Analytical and problem solving skills
