An expert in the financial sector, Eseosa Jacob has disclosed that with the implementation of a robust forensic accounting practices in the country, banks can now detect fraud and equally prevent it. While speaking over the weekend on the challenges faced by some banks across the country, he said that he has all it takes to uncover financial discrepancies and ensuring adherence to regulations.
He said: “I believe that by implementing robust forensic accounting practices, banks can now detect fraud and also prevent it, ultimately safeguarding both the institution and its customers.” In an interview, Jacob expressed his vision for the banking sector, saying “forensic accounting is not just about numbers; it’s about the stories they tell. My goal is to leverage these insights to foster a culture of accountability and ethical conduct within the industry”. The integral goal of combating financial crime according to him, “is a combination of accounting and investigative techniques to trace potential or actual financial misconduct. “As a seasoned forensic accountant and banking professional, in an era where financial integrity is paramount, I have stood at the forefront of a movement aimed at restoring trust in the financial industry with over a decade of rich experience in various banking roles across various financial industries and capacities. “I am not only an expert in my field but also an advocate for ethical practices and transparency, with a Masters degree in forensic accounting and Investigation.” While speaking further, he said “I have dedicated my career to uncovering financial discrepancies and ensuring adherence to regulations. My journey began at Stanbic IBTC Bank, where I honed my skills in Asset Management and Customer Service.” Findings have it that, Jacob had over the years held pivotal positions in several prestigious banks, where his contributions have driven substantial growth, efficiency and new product innovations.
He added that, “with my extensive experience as a banker I am equipped with a unique perspective on customer engagement and financial services. I have the ability to identify potential fraud and manage risk inherent accounts”. He however declared that, the banking industry is at a crossroads, emphasizing that “we can either continue down the path of complacency or embrace forensic accounting as a tool for transformation. “The Banking sector is characterized by three major components: The people. The process and the system. The power of data-driven analytics plays an important role in the laid-down procedure of the bank, protected and driven to align with system functionality to deliver clear and precise data interpretation to enhance customer experience.” While calling on the government to take advantage on a firm belief in the power of data analytics, Jacob said he has utilized tools like Tableau and SQL to create intuitive dashboards that aid in project planning and strategy implementation. He continued: “Data-driven decisionmaking is essential in today’s banking system environment. By analysing patterns and trends, we can not only improve our services but also enhance the overall customer experience”.
Speaking on his achievements as a result of his commitments to ethical practices which extend beyond his professional duties, Jacob has been recognized with multiple awards, including the Country Beyond Excellence Award and the Customer Service Staff of the Year. These accolades according to him, underscore his dedication to excellence and his belief that customers’ trust is the bedrock of a successful banking institution. When asked about what the future holds for the sector, Jacob said he envisions a banking sector that prioritizes integrity and transparency. Accordingly , he said “I hope to inspire a new generation of bankers who see forensic accounting not just as an intuitive investigation tool but as a means to build confident and long-lasting service relationships with clients. “I look forward to fostering a culture of accountability and ethical behaviour aimed at creating an environment where customers feel secured and valued. Fact-driven data for analysis for expert witness reports, arbitration, and mediation of fraud claims to mitigate any form of financial misconduct. “With the situation on ground, I am poised to make significant contributions to the banking industry through my expertise in forensic accounting. My passion for ethical practices and customer engagement serves as a beacon of hope in a sector often marred by distrust. “As the landscape continues to evolve, my vision and commitment to integrity may very well lead the way for a brighter and more transparent future in banking and the financial industry at large”.
