Fraud Analyst At Wema Bank Plc

Job Details

Job Title: Fraud Analyst At Wema Bank Plc
Organisation: Wema Bank Plc
Location: Lagos State
Min Work Experience: 3 year(s)
Qualification: BSc
Industry: Banking
Course: Related Discipline
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Wema Bank Plc - Widely reputed as the longest surviving and most resilient indigenous bank in Nigeria, Wema Bank Plc has over the years, diligently offered a fully-fledged range of value-adding banking and financial advisory services to the Nigerian public.

We are recruiting to fill the position below:

Job Title: Fraud Analyst

Location: Lagos
Job Type: Full Time
Specialization(s): Banking / Finance / Insurance

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 Description

  • 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.

Job Experience

  • Bachelor's 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
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