Fraud Prevention & Detection Specialist (1)
Job Purpose:
The job holder shall review transactions alerts and collate data from the real-time Fraud Management System and other reporting sources with a view to identifying fraudulent transactions, instituting prompt mitigation actions and create awareness on fraud trends across the Bank network.
Main Responsibilities:
Constantly monitor real time queues and identify high risk transactions, unauthorized transactions and fraudulent accounts.
Identify fraudulent transactions and institute prompt mitigating action.
Review and provide resolution to queued transactions within defined SLA to reduce potential revenue losses.
Review daily reports & compromise alerts to track and prevent fraud.
Recommend for appropriate holds on accounts identified as having potentially fraudulent issues.
Undertake research on fraud patterns by tracking confirmed fraudulent transactions to develop rules to prevent and detect fraud.
Contact customers & banks by phone and emails to verify transactions and resolve fraud-related account issues, if fraud is confirmed, create a case in the Case Management system to initiate investigations and dispute process.
Facilitate understanding of fraud prevention and detection across the Bank network.
Track status of resolved items to provide a record of activity and support identification of trends or persistent issues.
Recommend changes to fraud detection system parameters to higher management to optimize fraud detection while minimizing negative customer impact.
Daily Responsibilities.
Alert management and investigations
Taking necessary action on alerts and creating cases in Case Management system for investigations
Review of parameters set to optimize fraud prevention and detection
Contact customers to verify transactions and resolve fraud related issues
Liaise with customers, Branches and Law enforcement to seek/provide additional information where necessary
Educational qualifications and work experience:
Bachelor’s degree in computer science, Finance Banking Criminal Justice studies, Law or another relevant field
Professional qualification in Computer Assisted Audit Techniques (CAAT’s) or related field
At least Three (3) Years’ experience in Analytical Skills in Fraud Prevention, Use of Fraud Prevention tools, Investigation.
Master's Degree is an added advantage
