Fraud Officer at FairMoney

The Fraud Officer will be involved in all activities relating to the client fraud complaint resolution process. The officer will receive fraud complaints from various platforms (Fresh Desk, Email, Regulators, LEAs, Consumer Protection Agency, or any other avenue), log this complaint in the relevant register, analyze the complaint, and provide feedback to the relevant quarters. The officer will be involved in conducting investigations, preparing investigation reports, understanding the money recall and fund repatriation process, and be willing to interact with all relevant stakeholders involved in fraud complaint resolution (Banks, OFI, Fintechs, LEAs, Customer Service, Regulators, etc.) The officer will also be involved in preparing regulatory returns and BVN watch-listing, as well as any other activities as may be deemed fit by the Fraud Manager, including and not limited to transaction monitoring activities

Roles And Responsibilities

• Receive and incident into the complaint register all cases of Fraudulent Banking activities, Fraudulent Lending activities, Erroneous transfers, Business Gone Bad, and other fraud-related cases. To ensure all the fields/data requirements in the Complaint register are adequately populated.
• Conduct detailed investigations into all reported fraud-related cases and provide the needed feedback to the client, stating the facts behind the case and the Root cause of the event.
• Review all fraud alerts triggered by the system regarding Banking and Lending rule set, contact the relevant client to confirm if these transactions were initiated by the client, and take the necessary decision to either stop or pass such transactions.
• Work with the CS Team to treat fraud complaints during weekends and public holidays.
• Involved in the rendition of fraud and forgery returns to CBN, NIBSS, FITC & NDIC.
• Involved in the preparation of BVN watch-listing in respect of established fraudulent FairMoney clients.
• Where there is a need for an investigation report to be prepared for consumption by the LEAs or the regulators, prepare such a report and send it to the Fraud Manager for review and adoption.
• Treatment of fraudulent inflows into FairMoney clients’ accounts. Review the customer statement for any salvaged amount, contact our client via phone to explain the source of the reported inflow, and provide any amount salvaged to the requesting Bank alongside the client’s BVN. Ensure clients’ accounts are placed on lien to the tune of the reported amount.
• Treatment of reported fraudulent outflows from FairMoney clients’ accounts by establishing the amount and date of the transaction and communicating this to the beneficiary bank for recovery purposes.
• Treatment of inbound erroneous inflows by placing a lien to the tune of the reported amount on the FairMoney clients’ accounts, contacting the client to explain the source of the erroneous transfer, and providing feedback to the complainant to close out the incident.
• For reported Outbound Erroneous transfers, communicate this to the beneficiary Bank and request for salvaged amount. Officer to ensure that the outcome of the mail request is timely communicated to the complaining client.
• Review all inbound and outbound Business Gone Bad complaints and advise the complainant to report the matter to the Law Enforcement Agency for further investigations and possible recovery of funds.
• Review all lending frauds to establish a point of compromise by the client. Trace where the loan proceeds were transferred to and communicate these details to the client. Also, provide feedback to the client on why the Bank is not liable and why the loan liabilities have to be settled.

Requirements

• Excellent verbal and written communication skills.
• Data analytical skills.
• Basic understanding of laws related to fraud.
• Basic understanding of human behavior and performance.
• Working knowledge of equipment, policies, procedures, and strategies needed to support investigative operations.
• Ability to identify discrepancies and problems.
• Analytical and dispute resolution mindset.
• Ability to multi-task and function under pressure with little or no supervision.
• Proficient in Microsoft Office Suite or related software programs.
• Bachelor's degree in Accounting, Finance, or a related field is required.
• 3+ years experience in Fraud Desk, Customer Service, or Dispute Resolution Team.
   

Benefits

• Private Health Insurance
• Pension Plan
• Paid Time Off
• Work From Home
• Training & Development

Recruitment Process

• A screening interview with one of the members of the Talent Acquisition team for 30 minutes.
• Takeaway assignment to be done at home.
• Technical interview with the Hiring Manager for 45-60 minutes.
• Interview with the Head of Risk for 45 minutes.