Head of Fraud Risk Management
Job Type Full Time
Qualification BA/BSc/HND
Experience 5 years
Location Nairobi
Job Field Banking
REF: HOFRM/09/2020


The role holder will be responsible for leading and managing a team of fraud risk professionals within the Group. He/ She will be responsible for the design and implementation of the fraud risk management program across the Group. This includes developing, implementing and maintaining the necessary policies, procedures and controls as well as providing training required to assist the bank in preventing, monitoring, detecting, investigating and reporting on fraud and misconduct related matters.


The Incumbent will report to the Group Chief Risk Officer and will be responsible for:

  • Developing and executing Fraud Risk Management Framework and strategy.
  • Developing policies and procedures to prevent and detect  fraud activities within the Group
  • Working with relevant stakeholders e.g. Insurance companies, Legal Team etc. to recover any monies lost through fraud.
  • Identifying any weaknesses in the internal control environment which may expose the bank to fraud risk and recommend appropriate enhancements
  • The overall coordination of the fraud risk management program (strategy/policy development, analytics, fraud risk assessments, Investigations, collaboration with Business units in the implementation of internal control programs)
  • Providing subject matter expertise on Fraud Risk Management, drawing on deep banking product and banking operations experience; law enforcement networks; professional bodies and associations e.g. Kenya Institute of Bankers.
  • Undertaking staff training on fraud risk awareness campaigns on a regular basis.
  • Assessing the fraud risks faced by the Bank and its subsidiaries through the implementation of a fraud risk assessment programs on all bank channels, products and processes to ensure that vulnerabilities are identified and mitigated.
  • Coordinating with Head of Security & Investigations to conduct investigations and  make recommendations to management on appropriate action to be taken based on the findings of  the investigations
  • Taking a leading role in the selection of systems and tools used for fraud risk management and ensuring that regulatory, bank requirements and standards are met as well as devising fraud risk rules for such systems based in in-depth banking product and banking operations experience.
  • Working closely with the Head of Security & Investigations to conduct and otherwise assist in fraud investigations, corruption or staff misconduct cases across the Group.
  • Reviewing and analyzing allegations and whistleblowing information to determine relevancy and reliability as well as conducting  sensitive interviews involving Senior Members of staff across the Group
  • Work closely with the Head of Security & Investigations to either lead or participate in the conduct of sensitive and complex investigations across the Group.
  • Gathering intelligence through engagement with various stakeholders such as telecom companies, banks and forensic investigation networks, BFID etc.  to get information on emerging fraud trends and proactively advise on mitigation strategies
  • Providing leadership to staff within the Fraud Risk Management Unit and developing the Team to ensure the delivery of the Group Fraud Risk Strategy.
  • Communicating the outcomes and lessons learned from investigations and working with the relevant Unit to enhance controls
  • A degree from a reputable University, preferably in Risk Management / Finance/ Accounting/ Law / Management
  • Professional / Technical Qualifications / Diplomas in Banking,  Accounting or other similar qualification
  • Minimum of 5 years of fraud risk management/ investigations experience in banking fraud & Investigations department, combined with  a minimum of 5-year banking experience gained largely in the areas of bank operations e.g. central operations, card operations, back-office operations etc
  • Excellent working knowledge of data mining and analysis tools e.g. ACL, IDEA, and SAS etc.
  • Previous experience in leading and managing fraud units/teams at a senior level.
  • Experience in interaction with the police and other authorities in fraud matters preferable
  • Excellent Analytical and investigation skills, meticulous and detailed( pays attention to detail)
  • Communications Skills: – Strong verbal and written communication skills.
  • Teamwork – Balances team and individual responsibilities, exhibits objectivity and openness to others’ views, gives and welcomes feedback, contributes to building a positive team spirit, puts success of team above own interests, supports everyone’s efforts to succeed.
  • Planning/Organizing and Control- Prioritizes and plans work activities, uses time efficiently.
  • Management and People skills – Ability to manage a team, provide guidance and mentoring
  • Logical and independent thinking as well as assertive
  • Applies objectivity and sensitivity when dealing with confidential information.
  • Ability to work under pressure
  • Excellent interpersonal skills;
  • Good organization and presentation skills.
  • Excellent Report writing and numeric skills


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About I&M Bank Ltd

I&M Bank is a wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). The bank possesses a rich heritage in banking.