Head Fraud

2 months ago

Johannesburg, South Africa TymeBank Full time

Overall Purpose of the Role:

Tyme Bank, a leader in the South African digital banking sector, is on the lookout for an exceptionally skilled and seasoned professional to join our team as the Head of Fraud. This pivotal role demands a candidate who is adept at developing and executing robust fraud-prevention strategies, safeguarding the security and integrity of our digital banking services, and fostering a collaborative relationship with the operational fraud area to ensure the effective implementation of said strategies.

The successful candidate will report directly to the Head of Operational Risk and Fraud, assuming primary responsibility for the strategic direction and oversight of the bank's fraud prevention initiatives. This high-impact position requires a dynamic individual with a track record of excellence in fraud management within the digital banking sphere.
fraud strategies for the bank.

Experience and Skills Required:
Minimum of 5 years' experience effectively managing fraud strategies with a proven track record of implementing appropriate adjustments to strike a balance between fraud prevention and customer experience.

- Thorough knowledge of fraud prevention methodologies, industry best practices, as well as awareness of emerging trends in fraud mitigation.
- Solid understanding and experience with fraud dynamics.
- Extensive background in risk management, fraud prevention, or analogous roles, specifically within the digital banking sector.
- Robust grasp of risk management frameworks, methodologies, and associated regulatory obligations.
- Competence in identifying, comprehending, and evaluating risks in conjunction with stakeholders.
- Proficient in data analysis and the use of reporting tools, as well as software development platforms like JIRA and Confluence.
- Experience in data governance and the implementation of data-driven decision-making processes.
- Demonstrated capability in developing and executing strategies to mitigate fraud risk.
- Exceptional communication and interpersonal skills, essential for effective collaboration with stakeholders.
- Strong organizational skills and problem-solving prowess.
- Keen attention to detail coupled with the ability to thrive under pressure in dynamic, high-velocity work conditions.

Qualification/s:

- Bachelor's degree in engineering, Commerce, Business, Information Technology, Computer Science or a related field (Advanced Degree preferred).
- Advantageous: Certified Fraud Examiner (CFE).
- Professional certifications in risk management or fraud prevention are desirable.

Responsibilities:

Risk and Fraud Mitigation Strategies:

- Develop and maintain fraud risk policies and ensure all governance in relation to the banks fraud risk is managed.
- Assess fraud trends in the bank and make appropriate changes or recommendations to mitigate losses.
- Develop and implement risk management strategies and action plans to mitigate identified risks.
- Collaborate with stakeholders to establish risk tolerance levels and ensure alignment with the bank's objectives.
- Participate in industry forums, conferences, or collaborative efforts.

Fraud Mitigation through Transaction Monitoring Rules:

- Develop and maintain transaction monitoring rules to detect and prevent fraudulent activities.

Fraud Prevention Strategies and customer experience:

- Design and implement robust fraud prevention strategies and frameworks.
- Stay updated on fraud trends, industry best practices, and regulatory requirements to address emerging threats proactively.
- Recommend enhancements to fraud strategies and tools to ensure an effective customer experience while mitigating losses.
- Develop fraud awareness programs for staff and customers.

Fraud Mitigation through Product Design:

- Collaborate with product design teams to ensure adequate controls for fraud mitigation during the product build process.
- Minimise fraud incidents through the implementation of effective control measures.

Fraud Systems and Technology Management:

- Oversee fraud systems, databases, models and other fraud management software including Artificial Intelligence and Machine Learning applications.
- Evaluate and implement new technologies to enhance fraud management processes and efficiency.

Compliance and Regulatory Alignment:

- Ensure risk management and fraud prevention practices comply with relevant banking laws, regulations, and compliance requirements in South Africa.
- Collaborate with various teams to implement necessary controls and maintain compliance.

Reporting and Analytics:

- Manage and/or coordinate responses to actual fraud incidents.
- Liaise with various business stakeholders to create reports and present findings to senior management.

Team Leadership:

- The Head Fraud Strategy is expected Manage indirectly through a hybrid structure with dotted line reporting and lead cross-functional teams without

direct authority.

- This role requires excellent skills in influence, collaboration, and leadership.
- Interaction with Fraud Operations

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