Fraud Risk Analyst

Job Purpose

• The fraud risk analyst is responsible for implementing the current and proposed bank's fraud controls including the monitoring of fraud rule management across the full Bank's suite including card, digital, secured and unsecured lending. The candidate must be able to manage a range of projects in assessing and enhancing fraud prevention and detection. The successful candidate will be required to monitor and report on risk exposures, implement risk management policies and procedures, and make recommendations to senior management on fraud risk management practices. Overall, the fraud risk analyst will be required to minimise the impact of potential fraud and financial crime threats.

Areas of responsibility may include but are not limited to

• Ensures the appropriate systems, processes and controls are in place to deliver on the anti-fraud strategy.
• Drives the awareness of financial crime control management to build an appropriate anti-fraud risk culture.
• Provides internal and external customers with the appropriate fraud protection, detection and investigation services, policies, controls and training.
• Provide regular reports to senior management and stakeholders on fraud risk exposure, mitigation measures, and emerging risks.
• Assesses and provides advisory to products, channels and processes from a financial crime/fraud control perspective.
• Conduct investigation and root cause analysis for fraud rule management to support customer and Bank.
• Monitor tools to track and report on fraud risk metrics on a day-to-day basis.
• Ensures that fraudulent behaviour on customer accounts, through the various channels, are monitored, analysed and detected.
• Defines and implements strategy to generate appropriate red flags to determine staff involvement.
• Highlights breaches that could impose regulatory sanction.
• Provides independent assurance on the status of fraud risk management across card, digital EFT, secured and unsecured lending offerings.
• Monitor industry trends and regulatory developments to ensure fraud risk management practices align with industry best practices and regulatory requirements.

Education and Experience

• Minimum 3 years' experience in risk management.
• Minimum Bachelor degree in Commerce, Risk, Mathematical Science or Accounting.
• 3+ years' experience in a relevant field such as banking and fraud detection and prevention.
• Retail experience is highly advantageous.
• Expert knowledge gained from experience in Retail, Online and Digital Banking as well as financial crime.
• Sound knowledge of the retail banking industry across all product areas; card, digital, secured and unsecured lending.
• Relevant experience in financial crime and fraud risk management and understanding of financial crime and reputational risk factors posed by customers.
• Knowledge and understanding of IT systems and controls.

Personal Attributes and Skills

• A sound knowledge of the financial / retail banking industry.
• Advanced computer literacy, especially MS Excel.
• Ability to identify fraud risk and translate it into practical business initiatives and prevention strategies.
• Detail conscious.
• Planning and problem solving.
• Identify, analyse and address financial crime and fraud risks appropriately in order to move the business forward.
• Must be able to critically evaluate business information.
• Must be able to work autonomously and within a team.
• Knowledge and understanding of IT systems and controls would be advantageous.
• Fraud rule writing or knowledge would be advantageous.