Fraud Analyst at Wema Bank Plc

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.

Job Experience

• 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