Equity Group Managing Director and Chief Executive Officer (CEO) Dr. James Mwangi has announced plans to address cases of employees stealing from the bank.
Speaking while delivering the half-year results, Mwangi said David Ssegawa was picked as the Group Director, Human Resources, to help deal with rogue staff members.
Mwangi said Ssegawa’s experience has helped Equity Group deal with employees who have been stealing from customers.
He said Ssegawa will now lead his team in handling cases of employees stealing from the Group.
“When David stepped in, he said Enough is enough, let us do the audit of conduct. Now he has said we have dealt with those who are still from customers and making loans unaffordable. What about those who steal from the employer?” he asked.
Mwangi noted that some employees arrive at work, hang up their coats, and leave, which delays service provision to customers.
He explained that Ssegawa and his team now review each employee’s transactions daily to identify those who are not working.
“They come and hang their coats, causing long queues by not processing. We can catch them by looking at the number of transactions per day. I can’t wait to see this.”
How Insiders Help Leakages and Fraud Incidents
Besides, Mwangi said the bank’s past fraud cases were hatched and implemented with the help of certain staff members.
He stated that at least one employee has been charged in court for each of the past leakage incidents.
Mwangi told customers that the Group is ‘cleaning the house’ and such an incident will never recur.
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“Nothing happens without an insider. If you look at all the leakages you have talked about, there is a staff member we have taken to court. We are cleaning the house, and we will do it thoroughly. Never again will it happen because one finger is soiled; it soils all the others.”
“You can’t make a promise to the market and then undermine. You can’t create a plan and then undermine it by what you do.”
Other New Directors of Equity Group
Apart from Ssegawa, Mwangi introduced other new directors who have been hired to deal with the issue of fraud.
They include Naftali Mwangi, Group Director for Fraud Investigations and Security; Sam Gitwekere, Group Chief Risk Officer; Patrick Kinoti, Group Director for Non-Financial Risk; and Wafula Wabwire, Group Director for Internal Control and Compliance
“He (Mwangi) brings in credit risk, which is what we were lacking. As I said, this transformation was about having the skills and competencies,” Mwangi said.
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Hiring a New Team to Combat Fraud
Mwangi explained that the Group went for the best individuals in the market to help stop leakages.
He emphasized that Equity Group had no time to promote internal staff members and train them to handle the required tasks.
He stated that the money the Group has lost to fraud could have been enough to bring in the team and stop the mess.
“The best I could have done is to introduce you to the team that we have assembled. As you can see, it is not a promotion from within. We have no time to train. Get the best from the world; we can afford it. The amount of money we have lost to fraud is too much. It could have paid for these people. The problem is not the money; it is the reputation,” Mwangi said.
Mwangi stated that the Group will now tailor its market entry strategy and be professional in its dealings.
“If you see us using a hammer to kill a fly, it is because it is hurting us where it pains most: culture and brand. Internally, we will be clean as snow. Culture will change, and everyone must know it is a contractual obligation. We have been family for too long,” he added.
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