Fraud Risk Analyst

3 weeks ago

Sandton, South Africa Discovery Ltd. Full time

**Business Unit**:Discovery Bank**Function**:Risk Management**Date**:20 Apr 2024**Fraud Risk Analyst**

**About Discovery**
Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.**About Discovery Bank**
Discovery Bank is a bank like no other - a shared-value bank, designed with our clients in mind. We’re all about sharing the value that clients create when they manage their money well, back with them through exceptional interest rates and rewards. Our Vitality Money programme measures how well clients manage their finances, informs them of what it means to be financially healthy, and empowers them with the knowledge to get enhanced rewards for managing their money well. If you’re adaptable, a problem-solver, always questioning the way things are done, passionate about doing what is right, and obsessed with providing a quality service experience, we have a job for you where you can be your best in an environment that’s safe and nurturing.**Job Purpose**
- **Areas of responsibility may include but are not limited to**
- Ensures the appropriate systems, processes and controls are in place to deliver on the anti-fraud strategy.
- Drives the awareness of financial crime control management to build an appropriate anti-fraud risk culture.
- Provides internal and external customers with the appropriate fraud protection, detection and investigation services, policies and controls and training.
- Provide regular reports to senior management and stakeholders on fraud risk exposure, mitigation measures, and emerging risks.
- Assesses and provide advisory to products, channels and processes from a financial crime/fraud control perspective.
- Conduct investigation and root cause analysis for fraud rule management to support customer and Bank.
- Monitor tools to track and report on fraud risk metrics on a day to day basis.
- Ensures that fraudulent behaviour on customer accounts, through the various channels, are monitored, analysed and detected.
- Defines and implements strategy to generate appropriate red flags to determine staff involvement.
- Highlights breaches that could impose regulatory sanction.
- Provides independent assurance on the status of fraud risk management across all offering i.e. card, digital (EFT), secure and unsecured lending.
- Monitor industry trends and regulatory developments to ensure the Bank’s fraud risk management practices are in line with industry best practices and regulatory requirements.

**Education and Experience**
- 3+ years’ experience in risk management
- Minimum Bachelor degree in Commerce, Risk, Mathematical Science or Accounting
- Expert knowledge gained from experience in Retail, Online and Digital Banking as well as financial crime
- Sound knowledge of the retail banking industry across all product areas; card, digital, secured and unsecured lending
- Relevant experience in financial crime and fraud risk management and a sound understanding of financial crime and reputational risk factors posed by customers
- Knowledge and understanding of IT systems and controls
- Supervisory experience will be advantageous
- 3+ years’ experience in a relevant field (e.g. in banking and fraud detection and prevention). Experience in Retail is highly advantageous

**Technical Skills or Knowledge**
- A sound knowledge of the financial / retail banking industry.
- Advanced computer literacy, especially of MS Excel
- Ability to identify fraud risk and to translate into practical business initiatives and prevention strategies
- Detail conscious
- Planning and problem solving
- Identify, analyse and address financial crime and fraud risks appropriately in order to move the business forward
- Must be able to critically evaluate business information
- Must be able to work autonomously and within a team
- Knowledge and understanding of IT systems and controls would be advantageous
- Fraud rule writing or knowledge would be advantageous
- EMPLOYMENT EQUITY
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

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