Fraud Prevention Officer Job at Stanbic IBTC Bank Plc

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Job Title: Fraud Prevention Officer

Job ID: 11530

Location: Lagos, Nigeria

Company: Stanbic IBTC Bank Plc

Parent Company: Standard Bank Group

Sector: Banking and Finance

Division: Group Governance & Assurance

Position Category: Group Financial Crime Control

Employment Type: Full Time – Permanent

Shift: Yes

Regulatory Approval: Yes

Division Proposition: The Risk & Compliance teams at Standard Bank provides the essential foundations for our constantly evolving range of financial products and services. Risk is often the business unit that acts as the vital link in the powerful relationships we enjoy with our clients worldwide, and this division is now seeking an exceptional Fraud Prevention & Support Manager to help us build on our success. Because you will work with colleagues across the business, you need to be an independent thinker, with exceptional analytical and communication skills, as you will organise and negotiate measurable solutions to fulfill challenging targets, and support our corporate business objectives

Main purpose of the job: – The implementation of a fraud prevention and detection plan to adequately mitigate fraud risk in Stanbic IBTC Bank.  – Manage, lead, provide guidance and facilitate fraud awareness initiatives rolled from GFCC as well as country initiatives.  – Proactively lead reduction in fraud through training and prevention initiatives across the country.

Key responsibilities:

Assist the Manager with proactive fraud prevention to safeguard Stanbic Bank IBTC and its Customers through:    

• Analysing relevant information to proactively develop fraud awareness / detection methods

• Providing guidance and network within the various areas within the Bank and externally to develop fraud detection methods

• Proactively determining high risk Business Units and potential internal fraud and operational risks.

• Developing, implementing and managing fraud prevention and detection initiatives in country

• Proactively facilitating the early detection of fraud leveraging off hotlines and tip-offs.

• Managing and ensuring effectiveness of Fraud Stop programme

• Executing the Anti Fraud Strategy through prevention and detection, which will be aligned to Business Goals and priorities

• On each confirmed internal financial crime matter, establishing trends, identifying modus operandi and providing remedial recommendations.

Assist the Manager  with Risk and Loss Management

• Highlight control deficiencies to the Business stakeholders.

• Apply knowledge and experience to identify fraud, risk and highlight to management.

• Identify process and procedural areas of weakness from Forensic reports and develop fraud risk mitigating controls to prevent re-occurrence.

Assist the Manager with Process and Case Management;

• Attend all relevant Stake holder meetings.

• Constantly provide intelligence regarding trends, modus operandi, type of fraud documents, and standard of fraud application, knowledge of the criminal groups / syndicates regarding the verification process, other processes of Stanbic Bank that are detected in current investigations on hand.  Secure reporting line to relevant Business Heads regarding relevant intelligence gathered through investigations.

• Support the Manager: Fraud Prevention and Support by providing daily stats, trends and relevant information to Management and Business Heads to support and secure processes to minimize and prevent losses.

• Provide Management with consistent and accurate reports regarding fraud trends, market related information regarding fraudulent activities in the Corporate Environment.  

• Support investigation initiatives and training.

• Provide sound MIS reporting.  

• Be active in supporting the different business heads, know the different product procedures. Provide constantly information to the different business heads regarding crime patterns and modus operandi. These actions will provide them with the relevant knowledge to take sound business decisions that will assist them in minimizing risk and operational losses.

Assist the Manager with Customer Service;

• Timeous input to relevant report requirements (Exco, BAC, Risk Committees)

•  Ensure effective customer service escalation matrix

• Address customer complaints timeously

• Hold regular meetings with assurance providers (Audit, Risk Assurance, Compliance) on high risk areas requiring focus, lessons learned and exchange of information.

• Development and maintain a culture in conjunction with Business that focuses on prevention of fraud and security losses

Key performance measures:

• To support the reduction of net financial crime losses to less than 5% of Headline Earnings.

• Increased staff and customer fraud awareness.

• Improved control environment.

• Increased Cost savings as a result of fraud frustrated.

Key dimensions of the job:

• Fraud Prevention

• Fraud Loss analysis, reduction and mitigation

Required Skills and Qualifications

Problem solving, planning and decision making

Problem solving:

• Has a sound recall of processes

• The ability to deal with a diversity of problems, using sound judgement and direction.

• The ability to deal with routine issues as well as customer interface when required.

Planning: Ability to deliver results within agreed time frames.

Decision making: Have the ability to make sound decisions based on the limited information, risk related factors and business needs.

Required Competencies

Knowledge, experience and personal competencies

Knowledge:

• A sound grounding in general banking

• Computer literate  

Experience: 5/10 years  general banking experience  

Personal competencies:

• Written and verbal communication skills

• Good listening skills

• Stable temperament

• Assertive and resilient

• Decisive with the ability to make clear decisions

• Exacting – considers all the facts, options and outcomes prior to making decisions

• Intuitive

• Personable – friendly and open to others, with the ability to interact with ease

Drive:

• Action orientated, persistent and resourceful

• Achievement orientated

• Tactful

• Principled and focused

• Positive and motivated

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