Fraud Alerts Analyst-2 at Old Mutual South Africa

Job Description

• The Fraud Alerts Analyst at OM Bank will be instrumental in safeguarding the bank's integrity and customer trust by monitoring, investigating, and mitigating potential fraudulent activities. The role involves leveraging advanced fraud detection tools and analytics to respond to alerts, analyse suspicious behaviour, and reduce fraud risks while ensuring an excellent customer experience.

KEY RESULT AREAS

Fraud Monitoring and Detection: 

• Monitor real-time and system-generated fraud alerts for suspicious transactions or account activity on customer accounts. 
• Monitor real-time and system-generated fraud alerts relating to the credit application process on new or existing customer accounts. 
• Identify patterns and trends in fraudulent behaviour to prevent further occurrences. 

Investigation and Verification: 

• Conduct in-depth investigations into flagged transactions or activities. 
• Contact customers to verify transactions and protect their accounts. 
• Escalate high-risk cases to fraud prevention specialists or management. 

Collaboration and Reporting: 

• Work closely with Risk Management, Compliance, Service Operations and fellow FRAML trailblazers to resolve fraud cases. 
• Prepare detailed reports on fraud activity, trends, and resolutions for internal use. 
• Act as a subject matter expert for fraud prevention initiatives and provide insights to enhance fraud detection strategies and tools. 

Compliance and System Optimization: 

• Ensure compliance with all fraud prevention policies, procedures, and regulatory requirements. 
• Recommend system enhancements and participate in testing new fraud prevention tools. 

Customer Protection and Advocacy: 

• Educate customers on fraud risks and preventative measures. 
• Handle customer concerns regarding fraudulent activity with professionalism and empathy. ​

ROLE REQUIREMENTS

Education: 

• Bachelor’s degree in Risk Management, Finance, Business, or related fields (preferred). 

Experience: 

• 2–3 years of experience in fraud detection, financial crime prevention, or a similar role. 
• Knowledge of banking operations and fraud prevention tools. 

Skills and Competencies: 

• Proficiency in fraud detection software (e.g., SAS, Falcon, Actimize, or equivalent). 
• Strong analytical and critical-thinking skills. 
• Attention to detail with a solid knowledge on Card and Payments fraud is a plus. 
• Excellent communication skills pertaining to collaboration and customer engagements is required with problem-solving abilities. 
• The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit.

Skills

• Adaptive Thinking, Data Analysis, Data Controls, Financial Auditing, Information Management, Management Accounting, Planning and organisational skills, Risk Management, Threat Assessment

Competencies

• Business Insight
• Collaborates
• Communicates Effectively
• Cultivates Innovation
• Decision Quality
• Financial Acumen
• Instills Trust
• Manages Complexity

Closing Date

• 02 May 2025 , 23:59