Fraud Risk Management Consultant

Who we are

Your role

To prevent, deter and detect fraud and other types of economic crimes and work as an independent contractor, part-time, 3 days a week for one year, contract is renewable. This role will report to the Senior Compliance Officer (most frequently) and the Head of Compliance (infrequently).

Summary
- Identifying, evaluating, and implementing effective economic crime mitigation strategies to reduce exposure to economic crimes through for example conducting fraud risk assessments, advising on fraud prevention policies and procedures and providing training and awareness programs
- Proactively identifying, evaluating, and implementing fraud and other economic crime detection strategies to ultimately protect the Company from financial loss
- Reactively investigate instances of fraud and other economic crimes, which have been identified or reported within the organisation as well as the management of the recovery of any losses incurred
- Effectively collaborating with internal departments, in respect of the above proactive and reactive work functions

Key Tasks & Accountabilities

Reactive Investigations
- Conduct and manage all reported and detected incidents of economic crime and/or misconduct, in line with departmental standards and Group guidelines.

Fraud Risk Assessment
- Identify and assess potential fraud risks within the company, considering both internal and external factors.
- Policy Development: Develop and implement fraud prevention policies, strategies, and procedures.

Training and Awareness
- Provide training and awareness programs to employees, on fraud prevention, identification and ethics, promoting Creates an environment wherein employees feel comfortable about reporting fraudulent activities.
- Control Implementation: Implement and monitor fraud control mechanisms and governance structures.

Gap Analysis
- Conduct gap analyses to identify areas where fraud controls are weak or missing.

Data Analysis
- Utilize data analysis techniques to identify patterns and anomalies that may indicate fraud.

Compliance
- Ensure compliance with relevant laws, regulations, and industry standards as relevant to economic crime

Reporting
- Prepare reports and presentations on
- Assist management with reporting to the relevant governance structures, highlighting and summarising the overall results of the function’s operations, successful practices and significant risks identified.
- fraud risk management activities.
- identified system and/or control weaknesses, which resulted in criminal activity and make recommendations as to appropriate action required
- outcome of investigations conducted
- Track recommendations made to ensure implementation takes place as agreed with business management.
- Ensure compliance with Bryte Code of Business Ethics and the Zero Tolerance Policy by recommending disciplinary action against perpetrators of economic crimes and/or initiating criminal proceedings where necessary.
- Maintain and update the case management systems, in respect of investigated incidents.
- Maintain knowledge to keep up to date with fraud trends, fraud risks and legal requirements.
- Assist with reviewing and revising anti-fraud processes and activities.
- Maintain close and regular contact with internal clients of the function to facilitate ongoing awareness, understanding and mitigation of fraud risks.

Qualification & Experience
- Relevant tertiary qualification in related fields of study (e.g. investigation, law, compliance, law enforcement, etc).
- Professional qualifications preferred e.g. Certified Fraud Examiner or studying towards qualification
- Experience in the Insurance Industry will be preferred
- Minimum of six years forensic industry experience.
- Performing fraud risk assessments and control reviews.
- Conducting investigations
- Promoting corporate governance
- Consulting and project management
- Working with external suppliers and consultants
- Interacting and communicating on different management levels
- Establishing, implementing and delivery of training.

Knowledge
- General knowledge of insurance business and diverse business practices.
- Knowledge of forensic/investigation standards and best practices
- Extensive knowledge and experience in the use of data mining tools
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills.
- Experience in risk management, fraud investigation, or compliance.
- Knowledge of relevant laws, regulations, and industry standards.
- Understanding of fraud risk assessment methodologies and fraud prevention techniques.
- Ability to work independently and as part of a team Show knowledge and understanding of the different laws and the potential impact thereof on insurance process and service, including the law of torts, contract law, the law of agency and statute law.

Relationships

Internal
- Representatives of business areas
- Other assurance functions (e.g. Legal, Compliance, Risk Management, I