Lead - Fraud Analyst Apply Now Jobnumber MGS02122 Closing date 06-Sep-2024 Job Purpose
- To Monitor and action on the fraud alerts generated by the Enterprise fraud module in real time.
- Resolve queued alerts within the defined scope timeline.
- To reduce fraud losses (current and future) by action on the EFM alerts in real time.
- Conduct preliminary investigation to validate the transaction information received through the alerts and take a real time decision to allow or stop the ongoing transaction.
- To gather, record and securely retain evidence relating to an investigation in accordance with the laid down guidelines of FP&I Division.
Key Result Areas
- Responsible for the prevention and detection of potential frauds through timely review of alerts generated by EFM system.
- Organise and prioritise action on alerts as per defined guidelines.
- Reduce fraud losses by ensuring timely action/stoppage of cases where funds of the bank or bank's customer may be going to fraudsters.
- Liaise with various teams on the alerts received for recalling of funds or taking any/all other immediate actions to safeguard the Bank and customers interests.
- Accurately document all actions taken on an alert and update in Case Management System (CMS).
- Produce appropriate analytical results obtained from the actions on the fraud alerts received.
- To produce timely alert action reports / MIS to the Head of FP&I and relevant Managers, as appropriate.
Knowledge, Skills and Experience
- Requires a disciplined approach when reviewing fraud alerts as per its severity and weightage so as to ensure that alerts with high value are actioned on priority.
- Follow policies and procedures, complete tasks promptly, correctly & on time, and support the company's goals, values & SPIRIT.
- Sound knowledge of Banking products & processes required for conducting Fraud alert review & investigation.
- Must possess advanced computer skills, including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, Access), Power BI etc.
- Requires an analytical ability and competency in SQL query language and working with relational databases.
- Use own initiative, sound judgement and experience to reach appropriate decisions in accordance with the aims and objectives of the FP&I Division.
- Excellent Analytical skills are needed to understand the data gathered and present it in an MIS form to identify the gaps in processes from the perspective of inherent fraud risks and recommend changes to prevent fraud and under the intricacies of the investigation.
- Main responsibility will be prevention and detection of potential frauds through review of alerts generated by the Enterprise fraud module in real time.
- Conduct preliminary investigation to validate the transaction information received through the alerts and take a real time decision to allow or stop the ongoing transaction.
- Will be responsible to reduce fraud losses (current or future) for the Bank and its customers.
Knowledge, Skills and Experience (Continued)
- Preferably a Certified Fraud Examiner (CFE).
- Bachelor's Degree from an accredited university in Accounting & Auditing, Criminal Justice, or related field and a minimum of 3-5 years of banking experience of which 2-4 years should be with Fraud investigations.
- Strong knowledge of a Banks lending and operations products and services and other Banking operational policies and procedures
- Ability to work with little or no supervision while performing duties.
- Excellent written and verbal communication with the ability to create clear and concise summary documents of ongoing investigations.
- Ability to analyse complex situations and resolve them, makes recommendations, and/or escalates arising issues timely.
- Must possess advanced computer skills, including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, Access), Power BI etc.
- Requires an analytical ability and competency in SQL query language and working with relational databases.
- Ability to handle pressure and tough situations.
- Ability to work in Shifts.
