Investigation Manager/Counter Fraud
Job Description of Investigation Manager/Counter Fraud
Job Title:
Investigation/ Counter Fraud Manager
Location:
Head Office
Grade Level:
6
Department:
Internal Audit
Reports to (Title):
Head of Internal Audit
Direct Reports:
Internal Audit Associates
Job Objective and Summary
The Investigation Manager/Counter Fraud Professional will be responsible for leading and managing investigations into fraudulent activities, professional misconduct, and policy violations. This role will focus on identifying, preventing, and mitigating risks associated with occupational fraud, ensuring compliance with company policies, and safeguarding the organization's assets and reputation
Core Responsibilities and Key Result Areas
Fraud Prevention and Detection
- Develop and implement strategies to prevent and detect fraudulent activities within the organization.
- Conduct risk assessments to identify areas susceptible to occupational fraud.
- Monitor transactions and operations for irregularities and unusual activities.
- Conduct training and awareness programs for employees on occupational fraud prevention
- Liaise with other departments, such as finance, HR, and operations, to address fraud-related issues.
- Act as the point of contact for all fraud-related inquiries and concerns.
- Provide expert advice and support to management on fraud prevention and investigation matters.
- Stay updated on the latest trends and developments in fraud prevention and investigation.
- Implement best practices and innovative solutions to enhance the organization's antifraud capabilities.
- Identify and assess occupational fraud risks and develop controls to mitigate them.
- Recommend improvements to internal controls and processes to prevent occupational fraud.
- Partner with other departments to improve governance and occupational fraud risk management frameworks.
Investigation Management
- Lead and manage internal investigations related to occupational fraud, theft, misconduct, and policy violations.
- Conduct investigative audits of financial records, operations, and systems to detect fraud, mismanagement, or non-compliance.
- Utilize forensic accounting techniques to trace and analyse complex financial transactions.
- Gather, preserve, and present evidence that is admissible in legal proceedings.
- Work with external forensic experts when necessary to deepen the investigation.
- Collaborate with law enforcement and regulatory agencies when necessary.
Counter Fraud and Blocking of Revenue Leakages
- Identify and investigate revenue leakage points such as fraudulent transactions, pilferage, or misreporting of sales.
- Conduct periodic assessment of applications that process and report sales and remittances to ensure data integrity, accuracy and completeness
- Develop and implement counter-fraud strategies, including the use of technology and data analytics to monitor and flag suspicious activities.
- Collaborate with the finance and operations teams to close loopholes that may lead to revenue loss.
- Conduct periodic reviews and audits to ensure ongoing compliance and prevent recurrence of identified fraud risks.
Key Performance Indicator
- Number of cases of allegations from management request and Hotlines compared to the number completed and reported.
- Percentage of recommendations implemented to reduce incidences of occupational fraud.
- Number of repeat occurrences of fraud or other forms of malpractices after investigation and reporting of fraud incidences.
- No of days spent on investigation exercise from the date of commencement to the date of completion of field work and final reporting.
- Participants percentage score on satisfaction survey for training session on counter fraud and related topics.
Knowledge Requirements
- Strong understanding of fraud detection, investigation techniques, and risk assessment methodologies.
- Proficiency in forensic analysis, data review tools, and fraud prevention systems.
- Knowledge of legal, regulatory, and ethical standards related to fraud and investigations.
- Ability to prepare concise reports, maintain accurate records, and present findings effectively.
- Awareness of industry-specific fraud risks, cybersecurity threats, and risk management frameworks.
Job Specifications
Educational Requirements
Professional Requirements
Experience Requirements
- Bachelor’s degree in accounting, Finance, Law, Criminology, or a related field.
•Professional certifications as a Certified Fraud Examiner (CFE)
•Professional certification or membership of forensic associations, for example, Chartered Institute of Forensic and Investigative Auditors of Nigeria (CIFIAN) or similar body.
•Minimum of 5 years of experience in fraud investigation, forensic investigation, and investigative audit.
Decision Expectations
- Strong analytical, investigative, and problem-solving skills.
- Mastery of report writing and presentation skills
- Excellent communication and interpersonal skills.
- Proficiency in using investigation tools and software.
- Ability to provide litigation support
- Strong leadership and decision-making skills to manage complex investigations and oversee fraud management strategies.
- A high level of integrity and ethical conduct in handling sensitive information and dealing with internal and external stakeholders.
Working Conditions
Jobholder typically work 40 hours per week, Monday to Friday, although there may involve weekend or evening work. This role is largely office-based, although at times the individual may require travel to meetings held off-site, as the company has more than one office.
Contacts and Purpose of Contact
Internal Contacts (most frequent contacts)
Purpose of Contact
- Executive Management
- Operations Management
- Legal and Compliance
- Finance and accounting
- Human Resources
- Exchange or provide information
- Obtain, clarify, and discuss information
- Present, discuss information and problems
- Collaborate, negotiate and present ideas
- Deal with, influence or motivate subordinates
- Promote, justify or settle highly sensitive matters
External Contacts (most frequent contacts)
- Service Providers/ Vendors
- External Auditors
Authorisation
Name and Signature
Date:
