Lead Fraud Analyst at Kuda Bank

About the role

As a Lead Fraud Analyst, you'll play a pivotal role in safeguarding our business and customers from fraudulent activity. You'll be a strategic thinker and problem solver, constantly innovating to stay ahead of evolving fraud schemes.

Key responsibilities:

• Proactive Fraud Prevention: Implement robust measures to identify and mitigate fraud risks before they materialize, ensuring the security of our financial systems and data.
• Expert Investigations: Lead comprehensive investigations into suspected fraud, gathering evidence, collaborating with stakeholders, and resolving cases efficiently and effectively.
• Swift Action & Resolution: Respond promptly to any hint of fraud, minimizing financial losses and ensuring timely action to protect customers.
• Clear Communication: Keep stakeholders and customers informed throughout the investigation process, providing transparent and accurate updates on findings and resolutions.
• Continuous Improvement: Stay abreast of emerging fraud trends, analyze data to identify patterns, and propose proactive strategies to enhance our fraud prevention efforts.
• 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 and management 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. 
• Providing data of all watchlisted BVN industry-wise every month to IS control, compliance, Risk/ credit admin. 
• Providing data of fraudulent accounts to Risk team for credit Qualifying, profiling, and overdraft deactivation. 
• Preparation of quarterly fraud report to the board of directors. 
• Monitoring of all naira denominated e-transactions across all channels. 
• Monitoring of out-of-pattern transactions using Sift and Looker. 
• 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.           
• 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. 

Requirements

• University degree in a relevant field.
• Minimum of 6 years of experience
• Managerial experience is essential
• Financial service/ Fintech experience is a must
• CFE Certification is advantageous
• Sharp analytical mind: You'll dissect complex data and identify subtle red flags to uncover fraudulent activities.
• Decisive action: You'll react swiftly and decisively to mitigate risks and minimize losses.
• Investigation expertise: You'll possess a strong understanding of fraud investigation methodologies and best practices.
• Excellent communication: You'll clearly articulate complex findings to both technical and non-technical audiences.
• Teamwork: You'll collaborate effectively with internal and external stakeholders to achieve common goals.