Assistant Manager – Fraud Monitoring, Fraud Prevention & Intelligence
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Job Description
Monitor and act on fraud alerts in real-time for banking transactions. Liaise with teams to prevent fraud losses and document actions taken.
Responsibilities:
- Monitor and action on the fraud alerts generated by the Enterprise fraud module in real time and resolve queued alerts according to the defined scope guidelines.
- Responsible for the prevention and detection of potential frauds through timely review of alerts generated by EFM system.
- 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 reduce fraud losses (current and future) by action on the EFM alerts in real time.
- 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).
- Maintain awareness of key process changes, system changes and how they impact the Fraud Risk.
- Effectively communicates emerging and/or changing Fraud risk and related control opportunities and enhancements to FP&I senior managers.
- Produce appropriate analytical results obtained from the actions on the fraud alerts received.
- Contribute to the creation/enhancement of fraud scenarios, by providing analytical data to support decisions.
- Contributes to the development and implementation of Fraud Risk processes, tools, policies, standards, and procedures.
- Produce timely alert action reports / MIS to the Head of FP&I and relevant managers as appropriate.
- Assist in the development and delivery of, and to participate in education, training and awareness activities as part of the fraud awareness program.
Requirements:
- 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.
- Ability to interact and communicate effectively with all management levels to assess business needs in a professional manner.
- Must possess advanced computer skills, including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, Access), Power BI etc.
- Ability to handle pressure and tough situations.
- Ability to work in shifts.
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