Description

The purpose of this job holder is to support the business to achieve its goals and strategic objectives through his/her Line Manager by ensuring effective, contemporary Enterprise risk Management practices, Fraud risk Management Framework are integrated into business decision making.

Key responsibilities and accountabilities

• Implement and oversee monitoring systems to detect suspicious activities and potential fraud incidents promptly.
• Create and implement strategies to prevent fraud across various banking products and services.
• Conduct risk assessments to identify potential fraud risks and vulnerabilities within the bank's operations.
• Lead investigations into suspected fraud cases, coordinating with internal teams and external agencies as necessary.
• Develop and maintain fraud prevention policies, procedures, and controls in line with regulatory requirements and industry best practices.
• Conduct training sessions and awareness programs for bank staff to enhance their understanding of fraud risks and prevention measures.
• Establish and maintain relationships with law enforcement agencies to facilitate effective response to fraud incidents.
• Prepare reports on fraud incidents, trends, and mitigation efforts for senior management and regulatory bodies.
• Ensure compliance with relevant regulatory requirements related to fraud prevention and detection.
• Monitor industry trends and evolving fraud tactics to continually enhance the bank's fraud prevention strategies and systems.
• Identifying, evaluating and managing the Fraud risks that the bank could encounter
• Highly analytical process gaps to the fraud risk source and advise the bank management for implementing effective controls.
• Monitoring not only transactions, but also customer characteristics, account information and non- financial events, such as address changes, new debit card and PIN requests, and changes in ownership and advise the bank management for implementing effective controls.
• Ensuring full implementation of Fraud risk management Framework.
• Handling Fraud markers and events detected, and flagged accounts by Fraud monitoring system and generate preventive alerts to the Bank Management.
• Preventing fraud losses and maintaining customer confidence which are vital to the bank
• Providing an end-to-end fraud prevention environment across the bank
• Combining innovative transaction and customer monitoring with a built-in case management system, step-by-step alert management and configurable workflow.
• Addressing multiple fraud threats to the customer accounts, monitoring for deposit & withdraw, ATM and debit card, and or other payments channels.
• To deliver a scalable and comprehensive enterprise platform for fraud detection and prevention that spans multiple silos, channels and product lines.
• Multiple monitoring techniques include profiling, predictive analytics, peer group analysis and rules designed to detect more fraud with lower false positives.
• Streamlined alert handling and workflows ensure that the risk management policies are effectively followed
• Manage Clients Fraud Risk activities and processes effectively and efficiently aligned to business strategy.
• Work with other Business function in the bank for smooth functioning of Fraud risk management processes and activities.
• Ensure the Fraud Risk Management framework is effectively embedded and communicated across the bank.
• Develop a proactive, independent, balanced and a fraud risk awareness culture within the bank.
• Develop effective fraud risk management strategies and timely deploy these strategies across products and channels
• Identify industry best fraud risk infrastructure and management practices are tabled and are considered for adoption within the bank.
• Ensure that gross and residual fraud risks are understood and agreed with the respective business heads.
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
• Continuously improve the operational efficiency and effectiveness of fraud risk management processes.

Qualifications

Candidate’s Qualifications, skills, and experience

• High School Education with 40 Marks aggregate and above over 55,60,73 overall Marks or 4.5 Marks and above over 11 overall marks
• Bachelor’s degree in finance, Economics, Business administration, Statistics or any other business support option.
• Having or pursuing a master’s degree or Professional certification are added advantage.
• Quick learner and able to work under minimum supervision.
• Minimum 2 years of experience in Banking , Insurance ,FinTech or other related field
• Knowledgeable of English is essential and French is an added advantage.
• Having high interpersonal and communication skills both oral and written.
• Knowledge and understanding of modern risk management standards, frameworks and practices.
• Understanding national financial industry and business environment
• Ability to adopt and lead changes.
• Critical thinking and problem-solving skills with the ability to analyze complex information to identify the key issue/action drive resolution.
• Ethical and Moral skills.

• Implement and oversee monitoring systems to detect suspicious activities and potential fraud incidents promptly.
• Create and implement strategies to prevent fraud across various banking products and services.
• Conduct risk assessments to identify potential fraud risks and vulnerabilities within the bank's operations.
• Lead investigations into suspected fraud cases, coordinating with internal teams and external agencies as necessary.
• Develop and maintain fraud prevention policies, procedures, and controls in line with regulatory requirements and industry best practices.
• Conduct training sessions and awareness programs for bank staff to enhance their understanding of fraud risks and prevention measures.
• Establish and maintain relationships with law enforcement agencies to facilitate effective response to fraud incidents.
• Prepare reports on fraud incidents, trends, and mitigation efforts for senior management and regulatory bodies.
• Ensure compliance with relevant regulatory requirements related to fraud prevention and detection.
• Monitor industry trends and evolving fraud tactics to continually enhance the bank's fraud prevention strategies and systems.
• Identifying, evaluating and managing the Fraud risks that the bank could encounter
• Highly analytical process gaps to the fraud risk source and advise the bank management for implementing effective controls.
• Monitoring not only transactions, but also customer characteristics, account information and non- financial events, such as address changes, new debit card and PIN requests, and changes in ownership and advise the bank management for implementing effective controls.
• Ensuring full implementation of Fraud risk management Framework.
• Handling Fraud markers and events detected, and flagged accounts by Fraud monitoring system and generate preventive alerts to the Bank Management.
• Preventing fraud losses and maintaining customer confidence which are vital to the bank
• Providing an end-to-end fraud prevention environment across the bank
• Combining innovative transaction and customer monitoring with a built-in case management system, step-by-step alert management and configurable workflow.
• Addressing multiple fraud threats to the customer accounts, monitoring for deposit & withdraw, ATM and debit card, and or other payments channels.
• To deliver a scalable and comprehensive enterprise platform for fraud detection and prevention that spans multiple silos, channels and product lines.
• Multiple monitoring techniques include profiling, predictive analytics, peer group analysis and rules designed to detect more fraud with lower false positives.
• Streamlined alert handling and workflows ensure that the risk management policies are effectively followed
• Manage Clients Fraud Risk activities and processes effectively and efficiently aligned to business strategy.
• Work with other Business function in the bank for smooth functioning of Fraud risk management processes and activities.
• Ensure the Fraud Risk Management framework is effectively embedded and communicated across the bank.
• Develop a proactive, independent, balanced and a fraud risk awareness culture within the bank.
• Develop effective fraud risk management strategies and timely deploy these strategies across products and channels
• Identify industry best fraud risk infrastructure and management practices are tabled and are considered for adoption within the bank.
• Ensure that gross and residual fraud risks are understood and agreed with the respective business heads.
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
• Continuously improve the operational efficiency and effectiveness of fraud risk management processes.

• High interpersonal and communication skills both oral and written.
• Knowledge and understanding of modern risk management standards, frameworks and practices.
• Understanding national financial industry and business environment
• Ability to adopt and lead changes.
• Critical thinking and problem-solving skills with the ability to analyze complex information to identify the key issue/action drive resolution.
• Ethical and Moral skills.

• High School Education with 40 Marks aggregate and above over 55,60,73 overall Marks or 4.5 Marks and above over 11 overall marks
• Bachelor’s degree in finance, Economics, Business administration, Statistics or any other business support option.
• Having or pursuing a master’s degree or Professional certification are added advantage.
• Quick learner and able to work under minimum supervision.
• Minimum 2 years of experience in Banking , Insurance ,FinTech or other related field
• Knowledgeable of English is essential and French is an added advantage.