Fraud Analyst

Job Summary

Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within the Bank.

Job Details

• Develop and maintain an up-to-date Fraud Rule Book comprising of regulatory and industry requirements.
• Conduct Fraud Risk Assessment in collaboration with the Operational Risk Management and Fraud Operations teams and develop measures to mitigate identified risks.
• Design and maintain a fraud loss and recovery database across Business groups and product/service lines.
• Keep abreast and maintain a collaborative relationship with regulators, peer industry players, Card Schemes, and Law Enforcement Agencies and fraud risk industry forums to help detect and mitigate fraud.
• Provide Fraud Risk Advisory services including developing Fraud Scenarios for new and existing products and services.
• Collaborate with Fraud Operations to develop to drive standardization, automation and process improvement initiatives, review application User Access Matrix for applicable fraud solutions.
• Review and ensure blacklisted profiles – Merchants, Cardholders - are updated and set fraud, Transaction and Merchant Categorization Limits in line with business risk and fraud appetite.
• Recommend changes to the process control environment or to business practices, where necessary, to reduce the level of fraud risk exposure to within the agreed appetite.
• Develop monthly, quarterly, and ad-hoc fraud risk analytics reports.
• Monitor constantly customer and transactional records to identify unauthorized transactions and fraudulent accounts.
• Ensure confidentiality of all information collected during investigation.
• Determine existing fraud trends by analyzing accounts and transaction patterns.
• Identify system improvements to prevent fraudulent activities.
• Recommend anti-fraud processes for changing transaction patterns and trends.
• Act quickly and decisively when Fraud become apparent and ensure it is addressed within an appropriate timeframe and escalated appropriately to mitigate loss of fund.

Requirements

• Bachelors degree
• Minimum 3 years relevant experience in related fields in the financial services sector
• Data Analytics and programming/scripting experience
• Strong interpersonal and communication skills including the ability to interact with different stakeholders
• Ability to work independently with minimum supervision
• Good organisational skills needed to manage a high volume of assigned cases
• Proficient with the Financial procedures and regulations
• Hands on experience with relevant Information System
• Honest and ethical with high levels of integrity and confidentiality

About Company

Wema Bank

https://www.wemabank.com

Wema Bank is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them to achieve their personal and financial goals.