Fraud Officer

**MAIN FUNCTIONS OF THE JOB**

**Fraud Detection and Prevention**
- Monitor real-time transaction data and account activity using fraud detection tools.
- Identify patterns, anomalies, and potential indicators of fraud.
- Recommend and implement preventative measures to mitigate risk.

**Investigation and Reporting**
- Conduct thorough investigations of suspicious transactions, customer accounts, or system alerts.
- Collaborate with internal teams and external stakeholders, including law enforcement agencies, to gather evidence and resolve cases.
- Prepare detailed reports and summaries for management and regulatory compliance.
- Report to the Anti-financial crimes committee / ECC / Risk & Audit committee
- Reporting confirmed Fraud cases to SAFPS
- Reporting confirmed fraud cases to PRECCA where applicable.

**Risk Assessment**
- Evaluate fraud risks for new and existing financial products or services.
- Analyse emerging fraud trends and develop strategies to counteract them.
- Contribute to the development of fraud detection models and thresholds.

**Customer Interaction**
- Communicate with customers to validate transactions and gather additional information, ensuring a professional and empathetic approach.
- Educate customers on fraud prevention best practices**.**

**Compliance and Training**
- Ensure adherence to legal and regulatory requirements related to fraud prevention and reporting.
- Provide training and guidance to bank employees on fraud detection techniques and policies.
- Maintain, customise, and update the fraud procedure in line with the environment.
- Maintain and update the Fraud Manual applicable to Albaraka South Africa and aligning the manual with Albaraka Banking group.

**QUALIFICATIONS**
- Bachelor’s degree in finance, Accounting, Business, Computer Science, or a related field.
- Professional certifications such as Certified Fraud Examiner (CFE) or Certified Anti-Money Laundering Specialist (CAMS) are advantageous.
- Awareness of current and emerging fraud schemes, techniques, and prevention strategies.
- Familiarity with industry standards, compliance requirements, and regulatory frameworks.

**PREFERRED EXPERIENCE**
- 2-5 years of experience in fraud detection, risk analysis, or a similar role in the banking or financial services sector.

**KNOWLEDGE**
- Knowledge of Fraud Trends and Regulations
- Proficiency in fraud detection software, data analysis tools, and CRM systems.
- Strong knowledge of banking systems, payment processes, and regulatory frameworks.
- Familiarity with SQL, Excel, and data visualization tools is a plus.
- Ability to analyse complex data sets and detect unusual patterns or anomalies.
- Familiarity with fraud detection tools, data analysis software, and banking systems.