Fraud Risk Analyst at Absa South Africa

Job Summary

Responsible for developing fraud rule sets and performing data analysis to enhance decision rule in order to prevent and detect fraudulent events. In addition, responsible for developing, monitoring and tracking of rule performance and fraud attempts (detection and prevention).

Job Description

Strategy Design & Analysis

Tasked to support the delivery of the Fraud risk Strategy by continuously optimizing fraud detection rules through tactical and strategic rules concluded from data analytics. This includes the following actions:

• Daily health checks of fraud detection, alert queues and fraud rule optimization
• Fraud monitoring system
• Fraud strategy management
• Process mappings and execution for rule management
• Design and development of data driven strategies within Retail Risk team.
• Sourcing, consolidating and analyzing large data sets, utilizing strong SAS skills and identifying anomalies/trends.
• Liaising with relevant stakeholders, including Sales, IT, Front end & Collections Operations, Finance and other Risk teams.
• Assist New Product Development with assessments related to product refinements.
• Identifying gaps in Acquisitions, Pricing, Portfolio Management, Profitability and Collections & Recoveries processes and strategies as well as providing solutions to closing gaps / streamlining processes.
• Design, implement and monitor champion / challenger tests and analyse test results in order to better understand customer sensitivity in a manner that allows for long term strategy to be implemented.
• Presentation of analytical results and proposals to both technical and non-technical audiences, providing commentary as required.
• Ability to display strategic risk experience as well as solid SAS/Data Analytics skills will serve you well in this role.
• Strong quantitative, statistics and/or actuarial background with a track record of running with an entire project from conceptualization, to extraction of data, to formulating strategies and subsequent impacts of implementation through to excellent stakeholder engagement and management will be an added advantage.

MI & Communication

• Produce and analyse monthly MI, to provide insightful commentary to support data that details areas of potential concern and develop remedial action plans to address issues.
• Produce strategy review documentation that shows relevant performance of comparative acquisition and existing customer strategies. T his needs to include profit, volume and risk related metrics.
• Actively manage and improve risk-based profitability of new applications as measured in terms of Profit after regulatory cost of capital (PARCC) or economic profit (EP).
• Communicate analytical results to both technical and non-technical audiences
• Work together with cross functional teams, which may be geographically dispersed, to deliver risk initiatives
• Manage strategy sign-off process to ensure all stakeholders are informed of proposed strategy changes and benefit/impact of these changes to business.
• Liaise with operational areas (eg. inbound call centre managers and manual risk underwriting teams) to ensure strategies are working optimally.
• Ensure all strategies comply with Bank's credit risk policies and framework.

Customer Complaints Management

• Investigate and resolve all unresolved customer complaints that are escalated for final decisioning. Provide prompt and clear feedback to source of complaint. This needs to be done for both new acquisitions as well as existing customer’s complaints.

Education And Experience, And Competency Requirements

• B Degree in Business or Mathematics or Statistics or Engineering or Risk Management or similar.
• 3 years’ experience is required, in data analysis utilising a standard statistical package such as SAS.
• 1 year experience in SAS Advanced programming for statistical analysis and manipulation of very large data sets.
• Advanced computer literacy especially the Microsoft Office suite of programmes (MS Word, MS Excel, MS PowerPoint) (1+ years).
• SAS Programming.
• Problem Solving.
• Strong understanding of key credit risk metrics.
• Project Management experience.
• User Acceptance Testing.
• Knowledge of System Development Life Cycle (SDLC) which will assist in cases where systems / processes etc. may be impact on or provide opportunity to improve strategy execution and resulting performance.
• Totally clear criminal record