Head of Fraud at Kuda Bank

.Role overview: 

The Head of Fraud at Kuda will lead fraud prevention, detection, and investigation efforts across all channels, ensuring compliance, minimizing losses, and protecting our customer trust. This role involves driving fraud risk strategies, fostering collaboration, and managing a high-performing team to safeguard Kuda's operations.

Responsibilities:

• Treating and Investigation of all electronic channel complaints with regards to fraud, i.e. (USSD, Mobile Application, Web banking, Card present, and Card not present fraud).
• Resolution and documentation of investigative findings.
• Investigation of Fraudulent chargebacks lodged against Kuda through the Paystack dashboard.
• Investigation of overdraft Fraud.
• Ensuring response is provided to fraud queries across multiple channels.
• Maintain and manage a database of all fraud cases, investigative operations, and results of the analysis.
• Investigation /Resolution of all e-transaction complaints
• Prepare/Review and Render fraud reports to NIBSS weekly and monthly.
• Prepare/Review and Render Fraud and Forgeries reports to CBN every month end.
• Prepare/Review and Render BVN watchlist report to the Nigerian Interbank Settlement System.
• Monthly retrieval and implementation of all BVN watchlisted within the industry and ensuring all accounts linked in Kuda are deactivated and placed on PND for onward closure by CS.
• Monthly retrieval and implementation of all BVN watchlisted within the industry and ensuring all accounts linked in Kuda are deactivated and placed on PND for onward closure by CS.
• Providing data of all watchlisted BVN industry-wise every month to IS control, compliance, Risk/ credit admin.
• Providing data of fraudulent accounts to the Risk team for credit Qualifying, profiling, and overdraft deactivation.
• Preparation of quarterly fraud report to the board of directors.
• Prepare monthly fraud reports to management
• Monitoring of all naira denominated e-transactions across all channels.
• Monitoring of out-of-pattern transactions using Sift and Looker.
• Oversight of the day-to-day activities of the Fraud Team.
• Review of electronic transactions based on predetermined rules.
• Monitoring all electronic transactions, high-risk transactions, and activities occurring through multiple channels, including deposit accounts, online banking (OLB)/e-commerce, debit card (EFT), etc
• Make requests to other banks to provide footage of fraudulent ATM withdrawals reported by our customers.
• Review of inward and outward indemnities prepared by the Fraud team members to recall funds from Kuda to other banks and other banks to Kuda.
• Review and approve indemnities for onward forwarding to legal for signing and delivery to beneficiary banks.
• Manage fraud escalations and provide effective and efficient remediation strategies.
• Identification of process gaps, themes, trends, and lessons learned from investigations to support the continuous improvement of the Bank’s product and control environment.
• Develop and drive fraud risk management strategy for current and new products.
• Conducting interviews to obtain information helpful in resolving financial crimes.
• Liaise with stakeholders, internal teams, merchants, banks, etc., concerning fraud investigation and resolution.
• Update the team's SOP were necessary and ensure compliance with internal/regulatory requirements.
• Conduct cause and effect analysis for fraud cases and document findings.
• Implement loss prevention countermeasures and effectively communicate those countermeasures with employees and/or customers while the investigation is in progress.
• Work with law enforcement, regulatory agencies, and industry peers on incident-specific issues that may require follow-up and criminal trends.
• Regular sensitization of stakeholders on fraud risk awareness.
• Following up with appropriate business leaders or departments to ensure timely implementation of recommendations.
• Ownership and management of the SIFT fraud tool.
• Recommend relevant training to upskill and improve team members’ capacity.
• Ensuring team members are adequately trained both on and off the job

Requirements

• Bachelor’s degree in a relevant field (e.g., Finance, Accounting, Business Administration, or Law).
• Professional certifications such as Certified Fraud Examiner (CFE), ACAMS, or equivalent are highly desirable.
• Minimum of 7–10 years of experience in fraud investigation, prevention, and risk management, in the financial services or banking industry.
• Proven track record of managing fraud teams and oversight of investigative operations.
• Hands-on experience with fraud monitoring tools such as SIFT, Looker, or equivalent.
• Deep understanding of regulatory requirements for fraud reporting (e.g., CBN, NIBSS, BVN watchlist compliance).
• Expertise in drafting fraud-related reports for internal and external stakeholders (e.g., Board, NIBSS, CBN).
• Strong investigative and analytical skills.
• Ability to manage multiple priorities, escalations, and remediation strategies effectively.
• High attention to detail and strong problem-solving capabilities.
• Sound knowledge of fraud-related legal and regulatory frameworks.
• Ability to drive awareness and provide regular sensitization on fraud risks to stakeholders.
• Experience with the preparation and review of fraud reports to management, regulatory bodies, and the Board of Directors