Fraud Desk Officer

The Fraud Desk Officer shall be responsible for monitoring, investigating, and reporting fraudulent activities across the bank’s operations, channels, and customer transactions. The officer shall work closely with internal departments to detect and prevent fraud, ensuring compliance with regulatory requirements and internal control frameworks. The role supports the integrity of the bank’s operations and protects the bank from reputational and financial losses.

Key Responsibilities:

§ Monitor transactions and operations for red flags or unusual patterns indicative of fraud.

§ Receive, review, and escalate reported fraud incidents or allegations from staff, agents, and customers.

§ Conduct investigations into suspected fraudulent activities and prepare investigation reports with findings and recommendations.

§ Collaborate with internal audit, risk, operations, and IT departments to analyze fraud incidents and identify process weaknesses.

§ Maintain an up-to-date fraud register and ensure timely reporting to management and regulatory authorities such as CBN and NDIC.

§ Perform root cause analysis on fraud trends and recommend process improvements or policy amendments to reduce exposure.

§ Support the development and implementation of anti-fraud strategies, tools, and awareness campaigns.

§ Participate in staff training sessions on fraud detection, reporting channels, and preventive measures.

§ Liaise with law enforcement agencies or legal advisors when required in the prosecution of fraud cases.

§ Monitor digital channels (e.g. mobile banking, POS, internet banking) for suspicious activities.

§ Maintain the confidentiality and integrity of fraud-related data and investigations.

§ Maintain confidentiality and integrity in handling sensitive information related to fraud Investigations.

§ Perform other duties as assigned by the supervisor.

Qualifications and Experience:

§ Bachelor’s degree in accounting, Banking & Finance, Economics, Business Administration, or related fields.

§ Minimum of 2–4 years’ experience in fraud desk operations, internal control, fraud investigation, risk management, or audit within a financial institution, preferably a microfinance bank.

§ Strong understanding of banking operations, microfinance systems, digital financial services, and fraud types.

Skills and Competencies:

§ High level of integrity and confidentiality.

§ Analytical and investigative skills.

§ Sound judgment and problem-solving abilities.

§ Knowledge of anti-fraud tools and techniques.

§ Report writing and documentation skills.

§ Good interpersonal and communication skills.

§ Proficiency in Microsoft Office (Excel, Word, PowerPoint) and core banking systems.

§ Familiarity with CBN regulatory framework and anti-fraud guidelines.