Job Description
Job Purpose:
- Monitor and investigate fraud alerts generated by the Enterprise Fraud Management (EFM) system in real time on a 24/7 shift basis, ensuring timely decision-making on suspicious transactions to prevent both current and potential financial losses.
- Support case logging and ensure timely updates in the Fraud Incident Management (FIM) system, and manage endtoend investigations to minimize losses and maximize recoveries.
- Contribute to the preparation and submission of Fraud STRs for regulatory reporting to the Central Bank.
Key Result Areas:
- Monitor and action fraud alerts generated by the Enterprise Fraud Management (EFM) system in real-time, and resolve queued alerts in accordance with defined scope and guidelines.
- Conduct preliminary investigations and take immediate preventive actions upon identifying or suspecting fraud to minimize potential losses (current and future) to the Bank.
- Liaise with internal teams to initiate preventive measures or recall funds to safeguard the Bank, customers, and thirdparty interests.
- Accurately record all actions and decisions in the Intelligent Case Management System (ICMS).
- Ensure comprehensive investigation of alerts, covering all applicable scenarios/ rules through highquality, timebound reviews.
- Manage and validate fraud incidents reported, investigate them, and initiate immediate riskmitigation measures.
- Support case logging and ensure timely updates in the Fraud Incident Management (FIM) system, and manage endtoend investigations to minimize losses and maximize recoveries.
- Gather, document, and securely retain evidence related to investigations in line with FP&I Division guidelines.
- Manage payment screening and independently take decisions to allow, hold, or stop suspected/ actual fraudulent payments within defined timelines.
- Support enhancement of EFM system effectiveness, fraud scenarios/ rules, and thresholds by providing analytical insights and data.
- Contribute to the preparation and submission of Fraud STRs for regulatory reporting to the Central Bank.
- Produce timely alertaction reports and MIS to the manager, ensuring accuracy, completeness, and adherence to submission timelines.
- Maintains awareness of key process changes, system changes and how they impact the Fraud Risk.
- Communicate emerging fraud risks, control gaps, and process improvement opportunities to the Manager.
- Assist the Manager in fraud investigations through datadriven analysis and presentations, and support the implementation of fraud prevention and detection systems, tools, and processes across the Bank.
- Contribute to the development of fraud awareness materials and communication nuggets.
- Ensure compliance with internal policies, procedures, escalation protocols, and regulatory requirements.
Operating Environment, Framework and Boundaries, Working Relationships
- Specialized role requiring careful review of fraud alerts, investigation of reported cases and extraction of relevant information without disrupting the evidence trail, ensuring admissibility in external investigations and legal proceedings.
- Requires disciplined prioritization based on alert/ case severity and value, ensuring high-risk alerts/ cases receive immediate action.
- Strict adherence to policies, procedures, timelines, and the organization's goals, values, and SPIRIT culture.
- Strong knowledge of banking products, services, core banking systems, other Banking operational policies and procedures and working knowledge of EFM/ FRM systems.
- Must possess advanced computer skills, including but not limited to proficiency in Microsoft Office (Word, Excel, Power Point, Access), Power BI, SQL, etc.
Problem Solving
- Specialist for monitoring transactions, conduct of investigations to identify and determine the extent of fraud and losses.
- 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.
- Exercise control over preparation and submission of MIS reports.
Decision Making Authority & Responsibility
- Prevention and detection of potential frauds through review of alerts generated by the Enterprise Fraud Management (EFM) system in near real time, investigating frauds and regulatory reporting to the Central Bank.
- Manage payment screening and independently take decisions to allow, hold, or stop suspected/ actual fraudulent payments within defined timelines.
- Conduct preliminary investigations and take immediate preventive actions upon identifying or suspecting fraud to minimize potential losses (current and future) to the Bank.
- Manage and validate fraud incidents reported, investigate them, and initiate immediate riskmitigation measures.
- Support case logging and timely updates in the Fraud Incident Management (FIM) system and manage endtoend investigations to minimize losses and maximize recoveries.
- Maintain confidentiality of the information reviewed regarding the Bank, its customers and employees, at all times.
Knowledge, Skills and Experience
- Ability to work in on a 24/7 shift basis.
- 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 4-7 years of banking experience of which 2-4 years should be within Fraud monitoring and investigations.
- Strong knowledge of banking products, services, core banking systems, other Banking operational policies and procedures and working knowledge of Enterprise Fraud Management/ Fraud Monitoring tools/ systems.
- Ability to work with little or no supervision while performing duties.
- Ability to handle pressure and tough situations.
- Excellent written and verbal communication with the ability to create clear and concise summary documents of ongoing investigations.
- Ability to analyze complex situations and resolve them, make 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, SQL, etc.
