The Fraud Analyst is responsible for ensuring the security and integrity of banking transactions by monitoring real-time queues to identify high-risk, unauthorized, or fraudulent activities. This role involves taking prompt mitigating actions, such as placing restrictions on accounts, and conducting thorough research on fraud patterns to develop prevention rules within the Fraud Management System (FMS). The analyst will also work closely with internal and external stakeholders, including law enforcement and other financial institutions, to verify transactions and resolve fraud-related issues while maintaining high levels of customer service.
Key Responsibilities
Constantly monitor real-time queues to identify high-risk/unauthorized/fraudulent transactions and institute prompt mitigating action, including instituting appropriate hold (restriction) on accounts identified as having potentially fraudulent issues.
Review and provide resolutions to queued transactions within the defined SLAs to reduce potential revenue losses, as well as checking daily reports and compromise alerts to track and prevent fraud.
Undertake research on fraud patterns by tracking confirmed fraudulent transactions and identification of trends from resolved cases and develop rules in the FMS to facilitate fraud prevention and detection.
Recommend changes to fraud detection system parameters to optimize fraud detection while minimizing negative customer impact.
Contact customers, banks, and Telcos by phone and email to verify transactions and resolve fraud-related account issues; where fraud is confirmed, create a case in the Case Management system to initiate investigations.
Study market, industry, and environmental trends in frauds to identify emerging fraud patterns and provide insights to investigators and senior managers.
Undertake Fraud awareness sessions to facilitate appropriate understanding of fraud prevention and detection across the Bank network.
Prepare periodic summaries of fraud trends as appreciated from the fraud management system and related industry sources to enhance fraud management.
Conduct initial analysis of suspected fraud cases reported and appropriately escalate them for investigations, while providing support to investigators.
Undertake Fraud Risk Assessments on identified risk areas and issue reports with recommendations as appropriate.
Gather intelligence on fraud or planned frauds and take mitigating actions; liaison with law enforcement agencies in respect of matters under investigation and attend court to give evidence.
Engage with internal and external stakeholders to resolve issues and share insights for fraud management.
Minimum Qualification Requirements
Education: Bachelor’s degree from a recognized university.
Professional Qualifications: Forensics, Ethical Hacking, Fraud Management, Data Analysis, Data Science, or any relevant area.
Experience: A minimum of 5 years of total work experience is required.
Specific Experience Breakdown
Fraud Prevention and Detection in Banking / Financial Services: 5 years (Essential).
Analytical techniques (Linear, Regression, Clustering Techniques, Neural Network, Decision Trees etc.): 3 years (Desirable).
Banking Operations: 3 years (Essential).
Automated Fraud Management Systems: 1 year (Essential).
Digital Forensics: 1 year (Essential).
Stakeholder Management: 2 years (Essential).
Criminal Litigation: 1 year (Desirable).
How to Apply
Interested and qualified candidates should apply online through the KCB Oracle Cloud recruitment portal: Apply Here
How to Apply
Interested and qualified candidates should apply online through the official KCB Bank recruitment portal hosted on Oracle Cloud via this link: https://www.myjobmag.co.ke/apply-now/1213723
