Head, Fraud Controls & Fraud Regulatory Compliance, Fraud Solutions

Empowering Africa’s tomorrow, together…one story at a time 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 Job Summary The Head of Fraud Controls & Fraud Regulatory Compliance, Fraud Solutions is accountable for providing leadership, strategic direction, co-ordination, and oversight in ensuring that Fraud Solutions functions adhere and comply with internal Absa Group Risk policies, Enterprise Risk Management, Process Management frameworks, Fraud Risk Management Standards and Regulatory & Industry compliance. As an independent first line of defense, the role is accountable for independently ensuring effective controls are in place across different disciplines ranging from people, processes and systems; mitigating operational risks and preventing regulatory fines, penalties and/or reputational risks while ensuring compliance to industry association through high quality and robust fraud management process. This includes ownership of quality assurance frameworks and process assessments, the delivery of satisfactory audit and management assurance outcomes. Be the point of contact for risk functions across the group while shaping and influencing fraud risk policies and standards.

To develop tactical strategy and delivery plans, formulate associated practice and to ensure operational implementation and adoption across a single practice i.t.o. risk methodology, governance and delivery objectives Job Description

• Understand and stay up to date on all relevant Group Enterprise Risk Management (ERM), compliance, legislative and regulatory requirements and standards, and lead implementation of requirements across Fraud Solutions functions.
• Work collaboratively with Group Fraud and Operational Risks to influence development of Fraud Risk policies and standards.
• Oversee the planning and implementation of various risk assurance and risk compliance reviews and audit activities in line with Fraud Solutions priorities and aligned to Absa assurance plans to ensure compliance.
• Lead the development and or implementation and governance of Fraud solutions Business Assurance, Quality Assurance and testing frameworks (process effectiveness, targeted Management Control assessments) and standards.
• Provide oversight on the delivery of Business Assurance assessments including testing operational effectiveness of critical processes and Targeted Management Control Assessments and counsel on remedial actions.
• Deliver initiatives that optimise that enhance capabilities and the performance of the function.
• Sustain business continuity by continuously assessing process adherence to standards and adherence to risk controls.
• Partner with functional heads to develop risk and control registers and dashboards to monitor risks. Maintain a detailed risk register with mitigation plans and controls for Fraud Solutions to mitigate operational risks.
• Provide management oversight and guidance on the delivery and continuous improvement of quality assurance and testing processes and reports and Targeted Management Control Assessment investigations and reports on high-risk exposure areas.
• Drive the delivery of compliance activities (e.g., compliance training, outside business affiliations).
• Oversee and serve as point of contact for Data Privacy to investigate POPIA and data related breaches and BCM for input on Disaster Recovery Plans.
• Deliver financial reconciliations (provisions and journals) and loss reporting and ensure Functional heads are informed of STP targets and actual losses to ensure fraud losses are operating within the defined Risk Appetite parameters.
• Develop and manage budgets and drive cost efficiencies to optimise both business efficiency and financial performance
• Manage internal stakeholder engagements as it relates to risk and control management and adherence. Stakeholders include Clusters, products and clusters served by Fraud Solutions and not limited to Fraud Solutions Functional Heads and supporting functions.
• Be the eyes and ears for Fraud Solutions in ensuring that a positive risk culture and climate is achieved and sustained through being the voice of reason and independence in challenging processes, project governance and ways of work that support a positive risk landscape.

Education Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required) Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank. Absa Bank Limited reserves the right not to make an appointment to the post as advertised