New Business Fraud Detector (Centurion) at AVBOB South Africa

Description

• We are looking for a Fraud Investigator to join our Retentions team and play a key role in detecting and investigating suspicious transactions, application activity, trends related to fraud, misrepresentation and maladministration.
• This position is vital in ensuring that all findings are escalated appropriately and in alignment with AVBOB’s policies, procedures, and compliance standards.
• You will be working for a company that is over 100 years old with strong values. In return for your services, you will be paid a competitive remuneration package.
• You will be working for an organization that values employee development and rewards excellent performance.

YOUR RESPONSIBILITIES WILL INCLUDE:

Exception Report Analysis & Investigations

• Analyse daily exception reports across multiple internal systems.
• Identify fraudulent or irregular transactions such as duplicate contact details, repeated policy cancellations, and suspicious payment activity.
• Investigate anomalies like tampered documents and forged paperwork.
• Communicate findings with District Managers, Broker Consultants, and Area Managers, ensuring timely follow-ups.

Fraud & Misrepresentation Detection

• Investigate repeated use of bank accounts or cellphone numbers across unrelated policies.
• Detect signs of policy churning, low-retention high-sales patterns, and irregular stop order cancellations.
• Verify employment and supporting documents for facility-based business to confirm legitimacy.

Reporting & Escalation

• Report validated fraudulent or suspicious transactions to relevant internal stakeholders.
• Escalate cases to Operations Support or Employee Relations for disciplinary consideration.
• Compile and submit monthly reports to monitor fraud trends.
• Maintain accurate and complete case files according to internal guidelines.

Regulatory Compliance & Oversight

• Confirm accreditation status of brokers and representatives, ensuring compliance with industry regulations.
• Track unusual shifts in broker/marketer business volumes to identify risks.
• Contribute to system improvements affecting fraud detection.
• Assist team members with system training or exception report guidance when needed.

Requirements

• Matric (Grade 12) – Required
• FAIS-accredited qualification – Advantageous
• RE5 Regulatory Exam – Advantageous
• 2–3 years of experience in the insurance industry
• Strong administrative, investigative, and reporting capabilities
• Proficient in MS Office (Word, Excel, Outlook – Intermediate)
• Clear credit and criminal record