Fraud Risk Manager

1 week ago

Johannesburg, South Africa Absa Group Full time

Time left to apply: End Date: November 1, 2024 (7 days left to apply)

Job requisition ID: R-15968682

Empowering Africa’s tomorrow, together…one story at a time.

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

Monitor and continuously evaluate fraud controls within designated responsibility areas within the PSC Absa Financial Services/A&I (Advice, Investments) environment to ensure that fraud losses are minimized, fraud risks are controlled on a proactive basis whilst complying with internal policies and procedures as well as rules regulations.

Job Description

Key Accountabilities:

Strategy and Execution of Strategy

- Support roll out and execute on signed-off fraud strategies in PSC Advice and Investments
- Perform and drive a Fraud Threat Assessments
- Support the fraud strategy manager in aligning the strategy to Fraud Threat Assessment outcomes;
- Ensure (influence) strategy execution to enable business to comply with following layers:

- Real-time monitoring (catch net controls);

- Transaction authorization (verifications and preventative controls);

- Customer authentication (ID & V);

- Track fraud losses to identify defined controls being challenged;
- Manage fraud controls where challenged (risk mitigation);
- Projects and Book of work – requires fraud strategy managers to lead projects where Fraud Strategy owns the projects, fraud strategy support manager to support these initiatives

Risk and Control Management

- Adhere to governance criteria
- Monthly and Quarterly risk meeting feedback
- Monthly and Quarterly risk decks
- Internal audit support
- NAPA’s (New Product Assessments)
- CPA findings
- DWB (Dispensations, waivers and breaches)

Analytics and anti-fraud rules:

- Support and inform fraud rulesets based on threat assessments, emerging modus operandi, significant event discovery as well as industry trends
- Support in ongoing review of rulesets in use to ensure alignment to strategy and Threat assessments
- Collaborate with Strategic and Tactical Analytics teams to absorb lessons learned into analytics approaches

Stakeholder management

- Meet Business stakeholders on a regular basis to discuss strategy, performance and threats
- Meet Execution teams on a regular basis to discuss execution and alignment to the strategy

MI

- Drive collation of monthly loss and prevention MI for group reporting
- Ensure that losses are identified tracked and written off in line with group policy
- Ensure that Significant Fraud event governance is initiated as and where required
- Ensure that business remediation is defined, agreed and executed for Significant Fraud losses

Anti-fraud assurance and control testing

- Engage on an ongoing basis with business teams responsible for manual fraud control assurance to ensure that:

- Key control failures are identified and remediated timeously
- That emerging threats are identified and mitigated as controls are identified as being tested / compromised
- Inform enhancements or additions to manual control assurance based on threat assessments, emerging trends and industry trends.

Industry engagement

- Actively engage with industry bodies to stay abreast of emerging fraud threats as well as new modus operandi
- Support Strategy Manager in collating industry MI for benchmarking exercises
- Support Strategy Manager as stand in at Industry forums when required

Preferred Requirements:

- Communication and Team skills (Advanced).
- Networking Skills & Influencing Skills (Advanced).
- Knowledge of Fraud Risk Principles and Practices (Advanced).
- Understanding of Risk and Compliance concepts (Advanced).
- Analytical Skills (Moderate).
- Interpersonal and Conflict Management Skills (Advanced).
- Ability to both Drive an objective and Deliver (Advanced).

Education

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised.

About Us

Truly African

We are a diversified standalone African financial services group, delivering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth, investment management and insurance.

Absa Group Limited is listed on the JSE and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 41,000 employees.

We own majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles, South Africa, Tanzania (ABSA Bank in Tanzania and National Bank of Commerce), Uganda, and Zambia. We also have offices in China, Namibia, Nigeria, the United Kingdom and the United States of America, a Technology Hub in Prague, and insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.

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