Fraud Operations Manager at Discovery Limited

Job Purpose 

• The Fraud Operations Manager oversees the fraud risk function at an operational level. This role oversees the detection and investigation of banking fraud that has a direct impact on bank clients. The incumbent manages the sophistication and rigour of the technology to ensure that fraud is detected, investigated and mitigated within acceptable timelines for the client.
• At an operational level the incumbent ensures that the appropriate systems, processes and controls are implemented so as to drive the anti-fraud strategy. 
• The Fraud Operations Manager also speedily manages fraud alerts and intelligently monitors and identifies trends to implement mitigation initiatives for the prevention of further client fraud.

Areas of responsibility may include but are not limited to:

• Translates the anti-fraud strategy into operational action plans to mitigate and prevent future occurrences of fraud for the client.
• Keeps on top of all the client enabling technology within the bank and regularly critiques it from an anti-fraud perspective ensuring the best possible second line of defence for the client.
• Implements the best possible systems and processes that ensure protection, detection, investigation services, policies, controls and training for Discovery Bank.
• Critically evaluates and assesses changes to products, channels and processes from a client fraud prevention perspective. 
• Manages a team who monitor clients’ accounts at an operational level to proactively detect possible fraudulent activity. When fraudulent activity is detected this will trigger an investigation, and if fraudulent activity is confirmed, it will be resolved for the client.
• Monitors and keeps track of any breaches that could result in regulatory sanction being imposed.
• Works with the cybercrime prevention team to identify and prevent real or potential fraud.
• Ensures that a detailed risk register with mitigation plan and controls exists for fraud ops to mitigate operational risks.
• Regularly communicates and coordinates cross departmental fraud detection and/or investigative issues with departments such as Collections, Client Services, Credit and Legal.
• Creates, maintains and enhances internal and external stakeholder relationships in order to improve overall efficiency and ensure compliance.
• Takes accountability for the continuous up-skilling of employees within the division to ensure that current and future business demands for fraud mitigation are met.
• Develops, executes and give inputs into the policies, procedure and standards within fraud ops aligned to the regulatory framework.
• Keeps abreast of trends and business practices in the fraud environment both locally and internationally.
• Oversees and manages the fraud process SLAs to ensure that breaches are kept at a minimum

Personal Attributes and Skills 

• Planning and organising
• Problem solving
• Judgment and decision making
• Conflict management
• Innovative process management
• Client service orientation
• Verbal and written communication
• Strong analytical skills and attention to detail
• Interpretation of data leading to decision making insight
• Business analysis
• Cybercrime detection
• Knowledge of the banking industry and financial crime
• Understanding of Visa and or financial transaction processing within banking
• Risk Management theoretical knowledge
• Understanding of enforcement agencies
• Case Management

Education and Experience 

• Bachelor degree specialising in Finance or Forensics
• Degree in risk management, fraud or financial crime is preferred
• NQF level 9, MBL, MBA, M Comm is advantageous
• At least 7 years’ experience in financial crime, fraud or forensics roles in a financial environment
• At least 3 to 5 years’ experience in managing a team
• At least 5 years of experience in loss prevention/risk management including operations management experience in financial services or banking.
• Experience in risk management within a financial or banking environment.