Fraud Monitoring Officer

Fraud Monitoring Officer

Job Purpose

To monitor, investigate and report suspected fraudulent activities across the Bank's products and delivery channels, ensuring timely detection, escalation and resolution of fraud incidents while minimizing financial losses and supporting the Bank's fraud risk management framework.

Key Responsibilities

Fraud Monitoring

• Monitor fraud detection systems and transaction monitoring alerts for unusual or suspicious activity.
• Review and investigate alerts within established service standards.
• Escalate confirmed or suspected fraud cases in accordance with approved procedures.
• Recommend appropriate actions to prevent or mitigate fraud losses.

Fraud Investigations

• Conduct investigations into suspected fraudulent transactions and activities.
• Gather, analyse and document evidence to support investigation findings.
• Maintain complete and accurate records of investigations and outcomes.
• Prepare reports and recommendations for management review.

Customer Claims

• Investigate customer claims relating to fraudulent or disputed transactions.
• Verify supporting documentation and transaction details.
• Recommend claim outcomes in accordance with established procedures and regulatory requirements.
• Ensure timely resolution of claims.

Fraud Analysis and Reporting

• Analyse fraud incidents to identify trends and emerging risks.
• Track fraud losses and maintain fraud management information.
• Prepare periodic reports on fraud incidents, losses and investigation outcomes.
• Recommend enhancements to fraud detection rules and controls based on observed trends.

Control and Compliance Support

• Assist in testing and evaluating the effectiveness of fraud monitoring controls.
• Support audits, regulatory reviews and risk assessments relating to fraud management.
• Ensure compliance with internal policies, procedures and regulatory requirements.

Minimum Requirements

Education

• Academic: Bachelor's Degree in Banking, Finance, Business Administration, Risk Management, Criminology or a related discipline.
• Professional: Relevant qualification such as CFE, CAMS or ICA.
• Minimum of 3 years' experience in fraud monitoring, fraud investigations, operational risk, compliance, internal controls, banking operations or a related field.

Knowledge

• Knowledge of banking products and transaction processing.
• Knowledge of fraud detection and investigation techniques.
• Understanding of electronic banking, card payments and transaction monitoring.
• Working knowledge of relevant regulatory and compliance requirements.

Skills

• Analytical and investigative skills.
• Report writing and documentation skills.
• Attention to detail.
• Ability to interpret transaction data and identify suspicious activity.
• Strong communication and stakeholder management skills.