Fraud Desk Specialist at SycamoreNG

Job Responsibilities

• Shape and drive the fraud operations vision and strategy for Sycamore, ensuring alignment with business objectives.
• Spearhead the end-to-end fraud risk framework, covering prevention, detection, investigation, and resolution of fraud cases.
• Identify and mitigate fraud vulnerabilities across banking, lending, and payment processes, ensuring fraud controls do not hinder business growth.
• Developfraud models, leveraging data analytics to enhance detection and reduce false positives.
• Optimize fraud prevention KPIs, such as fraud loss reduction, detection accuracy, and response time.
• Oversee the end-to-end fraud case management process, ensuring accurate reporting, investigation, and resolution.
• Maintain and update the fraud complaint register, ensuring all fraud-related incidents, including fraudulent banking/lending activities, erroneous transfers, and business fraud cases, are properly documented and analyzed.
• Conduct detailed investigations into all reported fraud cases, establish root causes, and provide fact-based feedback to clients and internal stakeholders.
• Review fraud alerts triggered by Sycamore’s fraud detection systems, engage clients to verify transactions, and take necessary actions to stop or approve suspicious transactions.
• Collaborate with the Customer Service team to handle fraud-related complaints, including cases reported during weekends and public holidays.
• Ensure prompt identification, tracking, and escalation of fraudulent inflows into client accounts, liaising with relevant banks to recover salvaged funds while placing appropriate account restrictions.
• Handle outbound erroneous transfers by coordinating with beneficiary banks for fund recovery and providing timely communication to the complainant.
• Investigate lending fraud cases, trace loan proceeds to final beneficiaries, and communicate findings to clients, ensuring liability accountability.
• Oversee the preparation and submission of fraud and forgery reports to regulatory bodies.
• Ensure BVN watch-listing of clients involved in confirmed fraudulent activities, maintaining compliance with industry regulations.
• Prepare detailed investigation reports for law enforcement agencies (LEAs) and regulatory authorities, ensuring accuracy and adherence to compliance standards.
• Collaborate with law enforcement agencies, financial institutions, and fraud networks to drive industry-wide fraud prevention efforts.
• Maintain a strong knowledge of regulatory requirements and fraud trend.
• Act as a subject matter expert for fraud prevention and risk mitigation, guiding teams on best practices.

Requirements

• Bachelor’s Degree or equivalent from a reputable tertiary institution, with relevant professional certifications.
• Minimum of 4 years of experience in a security operations role, preferably within financial services.
• In-depth knowledge of banking structures, policies, and procedures.
• Proven expertise in data gathering, analysis, and fraud detection.
• Strong understanding of IT Governanceand cybersecurity principles.
• Extensive knowledge of cyber risks, fraud typologies, and digital fraud prevention strategies.
• Hands-on experience with fraud detection tools and risk monitoring systems.
• Exceptional analytical, problem-solving, and decision-making abilities.
• Excellent communication skills, with the ability to translate complex fraud trends into actionable insights.
• Ability to thrive in a fast-paced, high-performance environment while managing multiple priorities effectively.