Fraud Specialist at Flash Group

CORE RESPONSIBILITIES:

• Make sure that the materials for training on fraud are current.
• Identify changing fraud trends, document, and report to appropriate department personnel in a timely manner to assist in reduction of fraud losses.
• Partner with the risk department to ensure that all fraud risks are considered, and appropriate controls are in place.
• Make certain that the fraud prevention procedure is incorporated into all new developments.
• Escalate issues to management and other functional areas as necessary regarding unusual activities, abnormal transactions, and customer issues. Make recommendations for system improvements to prevent fraudulent activities.
• Control testing of accounts, to ensure that they are categorised according to the applicable risk profile.
• Document fraudulent activities and flag fraudulent accounts identified during onboarding.
• Analyse transaction patterns and respond quickly to high-risk traders.
• Attend fraud related meetings, especially on new products and assist with release controls.
• Daily, weekly, and monthly resolving of escalations from the Fraud Support Team.
• Provide support for all investigations, internal and external.

OTHER RESPONSIBILITIES:

• Conduct investigation of syndicates and internal fraud incidents.
• Monitoring and conducting of fraud investigations, recording of cases on the fraud databases (internal and external). Including writing of formal incident reports.
• Contribute on enhancements and improvement of fraud reports, internal and external (Liaising with the BI team in creation of efficient fraud reports).
• Monitor and review flagged transactions generated by the fraud detection system and take appropriate actions to mitigate fraud.
• Provide support on the fraud risk assessment.
• Assist with identification of fraud risks and provide recommendations.
• Analyse transactional data to detect unusual or suspicious activities, and to draw useful insights.
• Assist with UAT – Usability testing to be done for all deployments.
• Manage fraud helpline – email inbox and WhatsApp.
• Building Stakeholder Relationship.
• Participate in IT projects and new product development to bring a proactive risk management focus into new business initiatives.
• Liaising with role players in law enforcement and intelligence agencies, assisting with compiling of evidence for successful prosecution.
• Ensuring that the business units are aware of relevant loopholes, best practises and assisting them in the implementation of solutions.
• Assist in coordination of the Fraud Strategy.
• Maintain knowledge of fraud, industry best practices and trends.

MINIMUM REQUIREMENTS:

• 5+ years of experience in fraud investigations and driving fraud detection and mitigation strategies (experience within data intensive industries such as banking or financial services is preferred)
• Certified Fraud Examiner (CFE), Forensic Practitioner (FP)SA Designation or other relevant tertiary qualification

TECHNICAL SKILLS:

• Must be fully computer literate - including advanced experience using a wide variety of software packages (i.e., Word processing, spreadsheets and databases) with a strong emphasis on analytical software including Excel and Microsoft Power BI

ADVANTAGEOUS:

• Experience in fraud dispute resolution and chargeback process
• Anti-money laundering experience or Association of Certified Anti-Money Laundering Specialists (ACAMS)