Product Specialist – Fraud Analyst at Old Mutual South Africa

Job Description

Are you passionate about identifying and analysing large sets of data to isolate fraudulent patterns and trends and provide recommendations based on findings?
The Old Mutual Rewards team has an exciting opportunity for a Fraud Risk Analyst that is interested in mitigating loyalty fraud risks and minimizing fraud losses while protecting our members and the programme.
If you feel you can shape, influence, and transform Old Mutual Rewards fraud risk management capabilities and have excellent analytical, problem solving skills, this job could be perfect for you!

Role Overview

• The Fraud Risk Analysts purpose is to support the Management Team in reducing our exposure to Loyalty fraud. You will be responsible to provide leadership in managing the Programme’s Fraud Solutions Services, focusing on the identification of potential fraud, fraud trends and resolution thereof across the Rewards Programme.  Translate strategies into actionable goals and execute relevant projects /Initiatives aligned to Old Mutual’s Group Fraud Strategy.

Your key job responsibilities as the Fraud Risk Analyst will include:

• Responsible for the prevention and detection of potential fraud across the programme by reviewing members transactions.

• Monitor fraud alerts daily and take necessary action to protect members and the Programme.

• Identify and analyze large sets of data to isolate fraudulent patterns and trends and provide recommendations based on findings. 

• Contribute to the creation of fraud rules by providing analytical data to support decisions.

• Take corrective actions to mitigate and prevent any negative impact to Old Mutual Rewards and its members due to fraud. Perform technical investigations to identify abuse and misuse of Programme rules, systems and processes.

• Identify process improvement opportunities that result in efficient streamlined work processes to strengthen fraud capabilities and any corrective recommendations.

• Work with cross-functional teams on investigations/corrective action i.e. Operations, IT Support, Call Centre  etc.

• Drive the alignment of Fraud Solutions services with the requirements of Fraud Strategy, Fraud Forensic Investigations, Products and Segments, ensuring alignment and cooperating effectively with other business unit delivery requirements across the Group.

• Report risk information and findings to the immediate supervisor and Management team in a timely manner.

• Responsible for maintaining knowledge of fraud situation in the Loyalty & Financial Services industry.

Role Requirements

• Bachelor's degree in Bcom Risk/Finance/computer science.

• Minimum of 3 – 5 years’ experience in risk analysis.

• Strong logical reasoning skills with excellent analytical and problem solving skills

• Very good command of Microsoft office tools

• Basic SQL knowledge

• Skilled communicator able to act in a diplomatic and professional manner

• Have the ability to work as part of a team and independently, with good interpersonal skills

• A great attitude and desire to help our members

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit.