Head: Fraud Risk Management (D5) at Postbank (SOC) Ltd

Purpose of the Job

• The Head: Fraud is responsible for the strategic leadership, governance and operational oversight of the organisation’s fraud risk management function. Ensure the prevention, detection, analytics, investigation, case management, mitigationvand reporting of fraud, while maintaining compliance with applicable South African legislation and regulatory standardsin safeguarding the organisation, its clients and stakeholders. Strengthen Postbank’s fraud-risk resilience by ensuring effective systems, controls, methodologies and reporting and by driving collaboration with internal and external stakeholders to reduce financial crime exposure. Ensure alignment to legislation, regulatory requirements (FICA, POCA, PRECCA, POPIA) and industry best practice local and international, fraud-risk frameworks while enabling a proactive, intelligence-driven approach to fraud management.

Job Responsibilities
Strategic and Executive Leadership

• Define and implement the enterprise fraud management strategy aligned to organisational risk appetite.
• Provide executive-level advice to senior management and governance committees on fraud risk trends andemerging threats.
• Establish and monitor fraud risk metrics, KPA’s, KPIs, KRI’s, and reporting frameworks.
• Ensure data analytics are built into reporting requirements for decision making.

Fraud Risk Management
Drive fraud elimination strategies.

• Lead fraud prevention, detection, and monitoring controls across all departments, products, channels, and platforms.
• Ensure timely identification, reporting and escalation of suspicious or anomalous activity.
• Drive continuous improvement of fraud controls and detection capabilities.
• Develop and maintain the fraud strategy policies and operating framework across prevention detection investigation and analytics
• Ensure alignment to FICA POCA PRECCA PFMA POPIA and corporate governance principles
• Monitor and review fraud risk appetite statements thresholds and control requirements
• Establish performance standards KPAs, KPIs and KRIs and quality benchmarks across all fraud functions
• Drive integration between Fraud, AML, Operational, Risk, Compliance, ICT Security and Legal

Investigations and Enforcement

• Provide executive oversight of forensic investigations, including internal fraud, card fraud and complex financial crime.
• Approve investigation outcomes, recovery actions and referrals to SAPS, FIC or other authorities where required.
• Support civil recovery and criminal prosecution processes in collaboration with Legal, Risk and Compliance.

Regulatory and Governance Compliance

• Ensure compliance with all regulatory requirements and industry best practice standards. Maintain audit readiness and respond to internal audit, regulators and external assurance reviews etc.
• Ensure maintenance of policies, manual and frameworks and processes/procedures.
• Ensure disclosures to relevant industry bodies when required.

People & Capability Management

• Lead, develop and retain a high-performing fraud risk management and investigations team.
• Promote a strong ethical culture and zero-tolerance approach to fraud across the organisation.

People Management

• Clarify role expectations, priorities and standards for direct reports through regular review of job profiles
• Lead the performance cycle for direct reports: set goals, conduct regular performance appraisals / reviews and provide timely feedback
• Coach and mentor direct reports to build capability and encourage professional growth by recognising achievements, supporting individual development plans, identifying skills gaps and coordinating opportunities for training/learning and development
• Allocate and balance work, set delivery timeframes, and maintain team capacity through leave management
• Partner with HR on workforce planning; participate in recruitment, selection, onboarding and probation management
• Promote a favourable, inclusive, respectful team climate that supports well-being, safety and constructive collaboration and engagement
• Oversee adherence to HR policies and South African Labour Legislation in people practices
• Address performance, conduct and attendance issues promptly; manage grievances and, when necessary, initiate disciplinary steps in line with procedure
• Encourage continuous improvement and adopt enabling tools and technology that enhance team effectiveness

Minimum Requirements

Qualifications:

• Bachelor’s degree in finance, Risk Management, Law, Forensic Studies, or a related field
• Master’s degree in finance, Forensics, Risk, Law or a related field.

Ideal:

• Postgraduate degree or professional qualification such as:
• MBA (Master of Business Administration) – risk, fraud, leadership, or strategy focus
• Masters in Fraud risk management, Finance or Law
• Postgraduate Diploma in Forensic Accounting or Fraud Examination
• LLB / Legal Studies – especially for regulatory and compliance oversight
• Risk Management / Compliance / Financial Crime certifications
• Professional Certifications (Highly Advantageous):
• Certified Fraud Examiner (CFE) – Association of Certified Fraud Examiners
• Certified Forensic Accountant (CFA / SAICA forensic streams)
• Certified Risk Management Practitioner (CRM Prac)
• Certified Compliance Practitioner (CPrac)
• ACAMS – Certified Anti-Money Laundering Specialist
• ISO 37001 / Anti-Bribery Management Systems Awareness

Legal Requirements

• Certified Fraud Examiner (CFE) – Association of Certified Fraud Examiners

Experience:

• 10+ years’ experience in fraud risk management, financial crime, forensic investigations, or risk management within a banking or financial services environment. Managed fraud risk across an orgainsation.
• 10+ years’ experience in fraud risk management or financial crime, with senior management experience in a financial services environment
• Strong knowledge of South African regulatory environment. Risk, fraud and compliance frameworks knowledge will be advantageous. 
• Senior management or executive role with responsibility for:
• 5+ years leading fraud mitigation strategies, operate independently with a preventative and control focused orientation, financial crime, fraud risk governance, and leading an investigations team Setting strategy, budgets, and performance targets Reporting to Exco, Risk Committees, or Board-level forums

Knowledge and understanding (special requirements)

• Regulatory & Legal Fitness
• High-Level Security & Integrity Requirements
• Advanced Regulatory Knowledge
• Forensic & Investigative Competence
• Strategic Fraud Risk & Loss Management
• Executive & Board-Level Engagement

Skills and Attributes

• Independence & Objectivity
• Availability & Operational Readiness
• Ethical Leadership & Culture
• Data & Technology Exposure