Senior Manager: Fraud Risk Management at Liberty Group South Africa

Purpose

• To develop tactical strategy and delivery plans, formulate associated practice/s and to ensure operational implementation and adaption i.t.o. forensic methodology, governance and delivery objectives.

Key Responsibilities

• Provide strategic leadership and oversight on fraud risk management within the retail and group risk business units.
• Act as a representative of the Head of Fraud Risk at governance and operational meetings, delivering key strategic messages.
• Offer assurances around fraud risk management processes, supporting the organization's objectives.
• Develop and maintain fraud risk policies, procedures, and controls in alignment with regulatory standards.
• Work closely with internal stakeholders to identify and mitigate fraud risk within specific business areas.
• Ensure the delivery of accurate and insightful fraud risk reporting to senior management and governance committees.
• Support the business in implementing fraud prevention and detection strategies.

Key Skills

• Risk Management Expertise: Extensive experience in managing risks, especially within the financial services sector.
• Fraud Risk Understanding: Strong knowledge of fraud risk management; however, primary focus is on broad risk management capabilities.
• Strategic Thinking: Ability to translate strategic objectives into actionable risk management practices and communicate them effectively at senior leadership levels.
• Stakeholder Engagement: Proven ability to collaborate with and influence senior management and governance committees.
• Industry Insight: Familiarity with the financial services industry, particularly in retail and group risk insurance.

Minimum Experience

• 5 - 8 years experience in a similar environment

Minimum Qualifications

• Bachelor's Degree and Advanced Diplomas [NQF Level 07] in Finance, Risk Management, or related field. Professional certifications in Risk Management or Fraud Risk are an added advantage.

Process

• Accountable for strategy implementation through the integration and optimisation of operational activities to practices and systems across an internal value chain.
• Proactively identify interconnected tactical problems, determine the impact, patterns and trends to identify alternatives and best practice solutions, anticipating future challenges.
• Plan for delivering work outputs , manages independent practices, processes or systems and addresses and balances the demands of different priorities to optimise efficiency.
• Utilises the Refund, no Refund guidelines with consideration for the client, product, platform and risk.
• Contributes to relevant technology requirements application fraud, fraud prevention and detection systems including I and A tools, fraud case management, messaging engines like authentication tools biometric and in-app requirements.
• Monitors and identifies critical external data sourcing (i.e. negative listings).

Customer

• Build strong customer-centric relationships and develop service level agreements that promote the organisation with stakeholders aligned to Treating the Customer Fairly (TCF) principles.
• Defines the client messaging and communication strategy for fraud awareness and prevention in collaboration with FRM Domain and IAM Country.
• Identifies and monitors the appropriate communication channels to execute the client messaging.
• Ensures and monitors adherence to minimum standards for client authentication (e.g., client authentication, etc.).

Finance

• Compile an operational or business area budget aligned with the delivery plans, and ensure the implementation and monitoring of financial controls, management of costs and corporate governance to optimise cost savings and/or profit margins.
• Assists with procurement processes (RFP’s), where required.
• Monitors FRM operating costs and other metrics e.g. Gross Fraud Losses, Nett Losses, Customer Losses, Recoveries, etc. and ensures remedial actions are prioritised and implemented accordingly.

Learning and Growth

• Balance, optimise and manage human resources across disciplines through executed human capability plans.
• Monitors and reports on implementation of the FRM Domain Learning and Development plans.
• Measures, reports and ensures learning effectiveness.

Governance

• Implement the governance management model, framework and policy in own practice and/or tactical area to identify and manage governance and risk exposure liability pro-actively.
• Ensures the risk appetite is maintained regarding fraud rules mandate and customer friction.
• Monitors operational and product risk regimes and parameters such as offline card parameters, chip configuration, fraud recovery strategies.
• Monitors recovery strategies for products and platforms.
• Applies and monitors the fraud risk parameters and recovery strategies for products and associated platforms (e.g., Application fraud, Fraudulent Insurance Claims etc.) in collaboration with FRM Domain and IAM Country stakeholders.
• Monitors and ensures compliance with relevant fraud risk associated regulatory bodies.
• Identifies and escalates control weaknesses that have a fraud impact to relevant Risk Control Committees (RCC’s) to ensure remediation and tracking.
• Ensures that the control weaknesses are collated on a central control weakness repository.