Fraud Analyst

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With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

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Job Summary

The role holder will ensure the fraud controls both manual (fraud sampling, exception reports, spot checks etc.) and system-based monitoring and detection for all fraud related activities are proactively attained. Support with the execution of the Fraud strategy as set in-country. Primarily, monitor workflow and fraud (prevention and detection) activities as per assigned portfolios are completed within agreed service level. Further, track and report by submitting the relevant returns or management information to the Fraud Management.

Job Description

Accountability: Fraud Risk Management and Monitoring 80%

• Work closely with Fraud Manager and team members to deliver exceptional business performance as per defined portfolios.
• Support embeds fraud prevention/detection processes and procedures, including systems to manage fraud losses within the given budget, as per given portfolio.
• Responsible for researching on behalf of Head of Unit into suspect and report frauds, operational losses, staff fraud and other breaches as per defined timeframe.
• Assist the Fraud Manager to deliver on the Fraud Management programs as derived in the RBB and CIB policies to reduce losses. The portfolios include:
• Monitoring of Debit & Credit Card
• Monitoring of Device & Session
• Product/Application Sampling & Review
• Monitoring of Merchant Transactions
• Monitoring of Client’s Profile & High-Risk Channels
• Monitoring of Internal Activities and Accounts
• Customer Site Visits (where applicable)
• Conduct necessary preliminary checks to determine authenticity of documents, customer or third-party identity and truthfulness of details as and when required.
• Undertake the monthly reconciliation of the Fraud losses and recoveries against the appropriate P&L accounts and submit for review to the Fraud Manager.
• To undertake desktop investigation on fraud related incidents, examine appropriate records and documentation, interview relevant parties as may be required and report findings to the Fraud Manager and Head of Unit.
• Support with tracking and actioning Fraud recommendations from the Forensic Investigation team. Further, provide root cause analysis back to the business with remedial recommendations.
• To proactively utilize available fraud detection tools and systems to undertake data-mining activities and analytics to enhance pro-active identification and detection of fraud.
• Support the Fraud Manager with the various management reporting by making available relevant information. Compiling and consolidating of the country Fraud KRI’s.
• Proactively advocate the fraud awareness and best practices with colleagues in the business and customers externally.
• Deliver on the spot check defined plan at branches on a regular basis and in other high risk operation areas.
• Update the central Fraud database, parameter review (in conjunction with Fraud Strategy) utilizing Forensic Investigations reports & articles in various newspapers, news bulletin, DC&G outcomes and as may deemed appropriate.
  
  

Risk Management: Time split 10 %

• Adherence to Operational Risk policy by ensuring risk event is raised within 24 hrs whenever fraud is identified.
• Diarize any regular monitoring and reporting required as part of Fraud Standards and Policies where necessary.
• Supports the team in the on-going monitoring of the fraudulent activities, by providing guidance based on profiling and intelligence.
• Escalate any irregular activities or possible fraud to senior management.
• Supports the relevant stakeholders to comply with any regulatory or internal Fraud policies.
• Supports the team to satisfactorily close all findings related to assurance work, as well as external reviews.
  
  

Risk and Control: Time split 10%

• Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Absa Policies and Policy Standards.
  
  

Preferred Education

• Diploma in Business Studies or Business Administration or equivalent in any Business-related field.
  
  

Knowledge And Skills

• Sound and practical experience of bank systems and operational processes.
• Prior experience of handling customer disputes and complaints.
• Exposure to governance, control and risk management.
• Risk management skills and knowledge of different fraud types.
• Proven ability to effectively work within teams at all levels
• Understanding of Absa governance process. Understanding of Absa policies.
• Broad understanding of technology used in transaction monitoring and review.
• Service driven and Customer relationship management skills.
• Very strong analytical skills with attention to detail
  
  

Education

Further Education and Training Certificate (FETC): Law, Military Science and Security (Required)