Fraud Analyst
Wema Bank Plc
3d ago
source : BetaJob

Job Type : Full Time

Specialization(s) : Banking / Finance / Insurance

Job Summary

Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within the Bank.

Job Description

Develop and maintain an up-to-date Fraud Rule Book comprising of regulatory and industry requirements.

Conduct Fraud Risk Assessment in collaboration with the Operational Risk Management and Fraud Operations teams and develop measures to mitigate identified risks.

Design and maintain a fraud loss and recovery database across Business groups and product / service lines.

Keep abreast and maintain a collaborative relationship with regulators, peer industry players, Card Schemes, and Law Enforcement Agencies and fraud risk industry forums to help detect and mitigate fraud.

Provide Fraud Risk Advisory services including developing Fraud Scenarios for new and existing products and services.

Collaborate with Fraud Operations to develop to drive standardization, automation and process improvement initiatives, review application User Access Matrix for applicable fraud solutions.

Review and ensure blacklisted profiles Merchants, Cardholders - are updated and set fraud, Transaction and Merchant Categorization Limits in line with business risk and fraud appetite.

Recommend changes to the process control environment or to business practices, where necessary, to reduce the level of fraud risk exposure to within the agreed appetite.

Develop monthly, quarterly, and ad-hoc fraud risk analytics reports.

Monitor constantly customer and transactional records to identify unauthorized transactions and fraudulent accounts.

Ensure confidentiality of all information collected during investigation.

Determine existing fraud trends by analyzing accounts and transaction patterns.

Identify system improvements to prevent fraudulent activities.

Recommend anti-fraud processes for changing transaction patterns and trends.

Act quickly and decisively when Fraud become apparent and ensure it is addressed within an appropriate timeframe and escalated appropriately to mitigate loss of fund.

Bachelor's Degree

Minimum 3 years relevant experience in related fields in the financial services sector

Data Analytics and programming / scripting experience

Strong interpersonal and communication skills including the ability to interact with different stakeholders

Ability to work independently with minimum supervision

Good organisational skills needed to manage a high volume of assigned cases

Proficient with the Financial procedures and regulations

Hands on experience with relevant Information System

Honest and ethical with high levels of integrity and confidentiality

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