Fraud Manager-Detection at Equity Bank

Job Purpose

The Fraud – Prevention assists the Head of Fraud - Detection and Prevention in the implementation of fraud risk management strategies for the Digital Financial Services, Equitel and Jenga payment gateway. The holder of the position will assist the Head of Fraud - Detection and Prevention in anticipating, identifying, assessing, and responding to emerging fraud risks. The role will pinpoint opportunities for proactive fraud prevention across services, products, and channels and platforms, collaborating closely with the various Group Heads of Principal risks, Head of Investigations, to enforce the fraud management framework, policies, and standards in the Finserve Africa Limited operations.

Job Responsibilities/Accountabilities 

•  Assist the Group Director Security and Fraud Management to formulate comprehensive fraud risk management strategies for Finserve Africa Limited which are aligned with the Group's Enterprise risk management framework and fraud policy.

• Provide expert advice to the business on fraud risk management, controls, and initiatives in line with business strategy, enterprise risk, and fraud management policies and framework.

• Monitor Key Performance Indicators (KPIs) for fraud risk, analyzing trends and their impact on the business, while measuring the effectiveness of fraud prevention and detection controls. 

• Review first-line’s fraud risk assessments for both existing and new products and services while ensuring anti-fraud controls are evaluated as part of Risk & Control Self Assessments.

• Conduct fraud risk assessments for high-risk businesses, products, processes, and systems to identify emerging fraud trends, vulnerabilities, and areas for improvement. 

• Ensure a clear understanding, evaluation, and agreement on inherent and residual fraud risks, including their likelihood, impact, and ratings with respective subsidiary risk heads. 

•  Analyze business processes to identify control failures/weaknesses and/or procedure breaks related to fraud risk events, including an evaluation of the performance of fraud risk controls, tools, and data usage across all business units and channels.

• Implementation of the monitoring system to detect and report suspicious activity related to financial crimes and ensuring timely reporting to the Regulators as required.

• Prepare comprehensive management and board reports on fraud risk exposure, incidents, and mitigation efforts to senior management and relevant board committees.

• Respond to inquiries from business units regarding fraud risk management issues.

• Collect and analyze fraud data and insights for use in fraud prevention and detection

• Minimum education qualifications required - Bachelor's degree in a Business or Computing related discipline.

•  Certification in a fraud-related discipline, such as Certified Fraud Examiner (CFE) will be added advantage.

• Strong skills in identifying fraud indicators through data mining and analytics.

• Exceptional interpersonal skills to communicate effectively with stakeholders and manage expectations.

• Certification in Digital forensics and/or incident response will be an added advantage.

• Knowledgeable in identifying indicators of fraud through data mining and analysis exercises.

• A positive, learning-oriented attitude with a capacity for self-empowerment.

• Proficiency in SQL and data manipulation.

• Excellent communication skills, both verbal and written.

• Proven hands-on fraud prevention experience in a financial environment for a minimum period of 5 years.

• Able to develop workflows for new and existing data.

• Highly proficient in data analysis using multiple toolsets.

• Can develop standard monitoring reports to monitor KPI performance.

• Able to query/mine data from different sources using different scripting tools e.g. SQL, Python etc.

• Able to develop workflows for new and existing data.

• Uses a variety of analytical tools to give insights and derive trends for given fraud scenarios.

• Ability to carry out second level analysis on emerging fraud trends.

• Highly proficient in data analysis using multiple toolsets.