Job Purpose
To embed fraud prevention/detection processes and procedures, including systems to manage fraud losses within the given budget & Implementation of Fraud Strategy.
Work with industry counterparts and Fraud Strategy to deal with emerging fraud trends.
Represent the Bank in external Frauds forums.
Respond to high fraud exposure incidents.
Control of merchant fraud by ensuring proper monitoring of exception reports and merchants deposits for all Absa Pan African Countries.
Monitor Issuing and Acquiring chargebacks adhering to the rules & regulations guided by card schemes by ensuring proper reason codes are being used and card scheme policy is followed to maximize recovery through chargebacks.
Review all new products for fraud risk.
Review of Forensic Investigation Reports and provide root cause analysis back to the business with remedial recommendations.
Test controls on ad-hoc basis.
Pro-actively seek suspicious looking transactions with a view to pre-empt hits on the bank.
Query and support business to prevent fraud.
Link to, and participate in network of stakeholders e.g., other banks, investigators, law enforcement agencies, Card Schemes and Absa risk and compliance functions collate and interpret loss exposure and data.
Review Fraud Trends and Recommend new strategies to make a difference.
Steer the Fraud Operations team to undertake desktop investigations into suspicious fraudulent activities.
Provide expertise and intelligence on fraud prevention, related risk management information and controls.
Develop training on fraud awareness courses workshops, brochures, and other material to alert employees as to the bank’s policy on fraud and how to detect, investigate and report on fraud.
Develop and implement merchant fraud training.
Monitor all P & L and suspense accounts related to the Fraud Operations function.
Be proactive in safeguarding customer interests.
Review and implementation of fraud monitoring tools.
Provide expertise and intelligence on fraud prevention, related risk management and controls and reporting of fraud to the various forums.
Key accountabilities/Deliverables/Outcomes
Operational & Risk Management 50%
Ensure compliance by staff in the department, to the Fraud policy, Fraud Risk Framework service standards and procedures as laid down in the Bank’s procedures.
Ensure fraud is within agreed fraud appetite
Ensure fraud alerts are sent to both employees and customers when new fraud trend is identified.
Ensure fraud is reported to the scheme and regulator as per laid down procedures
Ensure schemes fraud is within schemes agreed fraud thresholds
Review chargebacks and ensure Schemes rules and procedures are followed
Review fraud parameters on quarterly basis
Develop Fraud strategy
Budget Management 20%
Implement plans and initiatives to rectify shortfalls in cost performance, actively engage staff in cost effective task management.
Service Management 10%
Manage customers relationship where fraud is involved
Ensure complaints are minimized
Staff management/Team leadership 20%
Develop and agree individual and team performance objectives, standards, and targets.
Review individual performance, ensuring that training needs are identified and addressed.
Provide ongoing coaching and feed-back on new initiatives etc.
Responsible for Team administration
Role/person specification
Qualification
First Degree in Business /Technology related fields
Professional Certifications in Fraud, Analytics or Accounting
Experience
Experience in Risk Management and fraud prevention
Knowledge and experience of card schemes Risk Management rules, policies and procedures
Contacts with Law enforcement in relation to fraud
Experience & Knowledge in customers, and employees Fraud Prevention Training
Understanding of customers’ needs
Apply via :
absa.wd3.myworkdayjobs.com
