Fraud Risk Manager at Absa South Africa

Job Summary

• Monitor and continuously evaluate fraud controls within designated responsibility areas within the PSC Absa Financial Services/A&I (Advice, Investments) environment to ensure that fraud losses are minimized, fraud risks are controlled on a proactive basis whilst complying with internal policies and procedures as well as rules regulations.  
• Identify fraud vulnerabilities in the end-to-end process and assist in initiating remediation programs as required. 
• Drive Fraud Threat Assessments and Strategy drafting as well as execution for the A&I Portfolio.

Job Description

Key Accountabilities:

• Strategy and Execution of Strategy
• Support roll out and execute on signed-off fraud strategies in PSC Advice and Investments
• Perform and drive a Fraud Threat Assessments
• Support the fraud strategy manager in aligning the strategy to Fraud Threat Assessment outcomes;
• Ensure (influence) strategy execution to enable business to comply with following layers:
• Real-time monitoring (catch net controls);
• Transaction authorization; (verifications and preventative controls)
• Customer authentication; (ID & V)
• Track fraud losses to identify defined controls being challenged;
• Manage fraud controls where challenged (risk mitigation);
• Projects and Book of work – requires fraud strategy managers to lead projects where Fraud Strategy owns the projects, fraud strategy support manager to support these initiatives
• Risk and Control Management
• Adhere to governance criteria
• Monthly and Quarterly risk meeting feedback
• Monthly and Quarterly risk decks
• Internal audit support
• NAPA’s (New Product Assessments)
• CPA findings
• DWB (Dispensations, waivers and breaches)
• Analytics and anti-fraud rules:
• Support and inform fraud rulesets based on threat assessments, emerging modus operandi, significant event discovery as well as industry trends
• Support in ongoing review of rulesets in use to ensure alignment to strategy and Threat assessments
• Collaborate with Strategic and Tactical Analytics teams to absorb lessons learned into analytics approaches
• Stakeholder management
• Meet Business stakeholders on a regular basis to discuss strategy, performance and threats
• Meet Execution teams on a regular basis to discuss execution and alignment to the strategy
• MI
• Drive collation of monthly loss and prevention MI for group reporting
• Ensure that losses are identified tracked and written off in line with group policy
• Ensure that Significant Fraud event governance is initiated as and where required
• Ensure that business remediation is defined, agreed and executed for Significant Fraud losses
• Anti-fraud assurance and control testing
• Engage on an ongoing basis with business teams responsible for manual fraud control assurance to ensure that:
• Key control failures are identified and remediated timeously
• That emerging threats are identified and mitigated as controls are identified as being tested / compromised
• Inform enhancements or additions to manual control assurance based on threat assessments, emerging trends and industry trends.
• Industry engagement
• Actively engage with industry bodies to stay abreast of emerging fraud threats as well as new modus operandi
• Support Strategy Manager in collating industry MI for benchmarking exercises
• Support Strategy Manager as stand in at Industry forums when required

Preferred Requirements:

• Communication and Team skills (Advanced).
• Networking Skills & Influencing Skills (Advanced).
• Knowledge of Fraud Risk Principles and Practices (Advanced).
• Understanding of Risk and Compliance concepts (Advanced).
• Analytical Skills (Moderate).
• Interpersonal and Conflict Management Skills (Advanced).
• Ability to both Drive an objective and Deliver (Advanced).