Fraud & Risk Manager (EBKL) at Equity Bank Kenya

Job Purpose:

Objective of this role is to support the business in driving efficiency in execution of below responsibilities.

Review of Fraud related Incidences and Investigations

• Tracking and receiving of investigations reports and maintaining of a database on fraud and incidences.
• Reviewing and approval of investigations recommendations.
• Reviewing, follow-up and approvals of refund executive approval memos.
• closure of the executive approved investigations recommendations by either refunding customers.
• Communicating investigations outcome with the branch management for further relationship management and dispute resolution.
• Requesting for evidence in support of investigations findings and recommendations.
• Following-up and raising change requests on control gaps identified through the investigations process and ensuring timely closure.
• Liaison with Fraud risks on implementation of Fraud preventions measures identified and follow-up on control gaps identified.
• Engagement with auditors and satisfactory supporting fraud related Operational Losses amount.

Recovery Of Reported Losses.

• Timely recovery of branch reported cash shortage amounts as per branch operations procedures.
• Minimizing and controlling Operational Losses from fraud related activities.
• Review of HR surcharge and implementation of recoveries as per documented proposals.
• Timely follow-up of recovered or held as proceeds of fraud related activities including reversals from mule accounts.

Sundry Debtors and Cash Shortage Management.

• Review of reported cash variance incidences.
• Recommending shortage cases for HR disciplinary as per policy on management of variances.
• Maintaining an up-to-date record of receivable Debtors and shortage amounts.
• Propose timely write off non-recoverable receivable amounts.
• Maintaining Sundry Debtors and Cash shortage balances within annual budget and provision.

Overage Accounts Management

• Maintaining up to date record of both Cash Overage and ATM Overage accounts.
• Review of overage accounts and recommend HR disciplinary as per new policy on management of variances.
• Propose timely write back of unclaimed overage amounts.

Insurance claims.

• Review of insurance policies and renewals of Professional Indemnity, Bankers Blanket Bond and Fidelity guarantee bank policies
• Reviewing and determination of insurable losses incurred within operations.
• Timely reporting insurable losses to the insurer
• Reviewing of policy clauses and follow -up to ensure compliance and adherence.
• Meetings with the loss adjusters and defending insurance claims through provision of documentary evidence.
• Review and execution of Discharge Voucher final compensation offers.

Qualifications

Educational & Professional Qualifications:

• Bachelor’s degree in accounting, business administration, risk management, or information technology. 
• 6+ years of experience in Financial Services with at least 5 years’ experience in fraud risk management, prevention, detection, or investigations. 
• Professional certifications such as Certified Fraud Examiner (CFE) is highly desirable. 

Key Skills and Competencies:

• In-depth knowledge of fraud prevention and detection techniques, technologies, and payment industry best practices. 
• Understanding of payment fraud risks, business controls, regulatory issues, and market practices. 
• Ability to collaborate with other teams and influence change within business units and teams. 
• Strong analytical and problem-solving skills, with the ability to deduce insights from diverse data sets and identify potential fraud indicators. 
• Excellent communication, negotiation, and presentation skills, with the ability to convey risk management concepts to diverse audiences. 
• Proficiency in regulatory frameworks and compliance requirements related to payments. 
• Leadership and team management abilities, with a track record of championing the implementation of control recommendations.