Risk and Fraud Manager

2 weeks ago

Johannesburg, South Africa Absa Bank Limited Full time

Bring your possibility to life Define your career with us
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

To provide advice and support in operations practice formulation and associated best practice improvement tactics; enabling the provision of specialist expertise.

To provide specialist Fraud and Dispute Risk, Fraud Risk Products and Solutions and other Cyber and IT security expertise in Commercial Payments, ensuring activities are fulfilled in adherence to relevant control and compliance requirements, and quality standards as set out in relevant Absa Policies and Standards and required by the Payment Schemes and PASA.

Support Acquiring in developing and refining Absa strategies for authorization and fraud case management. Assist the Fraud Strategy team in detecting and mitigate complex fraud trends by using automated data review processes, eliminating the need for manual review. Assist Absa in developing and managing adequate dispute reporting and prevention strategies and solutions.

**Job Description**:
Specialist expertise and support: Provide specialist operations expertise, support and guidance to address complex operational issues in the business | Change programmes: Play the role of SME on operational change and efficiency programmes | Continuous improvement: Continuously identify and design ways to improve operations in the business | Compliance and Risk Management: Fulfil all activities in adherence to relevant control and compliance requirements | Governance: Ensure the effective fulfilment of all required governance activities, including tracking and reporting | : | : |:
To provide specialist Fraud and Dispute Risk, Fraud Risk Products and Solutions and other Cyber and IT security expertise in Commercial Payments, ensuring activities are fulfilled in adherence to relevant control and compliance requirements, and quality standards as set out in relevant Absa Policies and Standards and required by the Payment Schemes and PASA.

Support Acquiring in developing and refining Absa strategies for authorization and fraud case management. Assist the Fraud Strategy team in detecting and mitigate complex fraud trends by using automated data review processes, eliminating the need for manual review. Assist Absa in developing and managing adequate dispute reporting and prevention strategies and solutions.

Ensure several important benefits are realized i.e. Increased sales conversion as a result of improved risk-assessment accuracy, Fewer chargebacks resulting in lower direct and indirect costs associated with the management of fraudulent transactions, Improved customer satisfaction with increase valid order processing due to the automated fraud screening and reducing customer insult from incorrectly rejecting valid orders.

Many card-absent merchants approach acquirers with extremely attractive business propositions; however, these merchants generally have a business model with a higher propensity for risk. While these business propositions may be very appealing; there are several additional risk issues that can arise for acquirers. This may include chargebacks or refunds the merchant cannot absorb, or the hefty fines that can be assessed under Visa Risk Programs. As a result of poor acquiring decisions, many institutions have experienced:

- Significant Visa Risk Program penalties for excessive chargebacks and fraud e.g. R800k for Bolt, R1.7m for illegal activity
- Damage to their brand and reputation
- Financial losses due to inadequate reserves or chargeback and credit risk exposure e.g. air Genie merchant processing non 3D Secure fraudulent transactions
- Restrictions on future portfolio growth e.g. inability to scan for High Brand Risk merchants like Gambling

This includes:

- Support in terms of Industry / Acquiring Strategies / Roadmaps / Regulatory & Governance as it relates to Acquiring Security, Fraud and Disputes
- SME and business owner on Fraud, dispute and security operational change and efficiency programs
- Continuously identify and give input on ways to improve security, fraud and dispute operations and rules in the business
- Ensure the effective fulfilment of all required administrative duties, including tracking and reporting on Security, Fraud and Disputes
- Managing Security, Fraud and Chargeback operational matters between Absa and Third Parties that service Absa clients
- Interbank Initiatives, Payment Governance, Advisory Services and Reporting

Key Accountabilities

Accountability: Relationship Management
- Own the relationships with the internal Absa Fraud, Investigation, Cybersecurity, Security Alerts and Chargeback teams and support the third party and merchant clients relationship or regional managers, and be the first point of c

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