Fraud Specialist

CORE RESPONSIBILITIES:

Make sure that the materials for training on fraud are current.

Identify changing fraud trends, document, and report to appropriate department personnel in a timely manner to assist in reduction of fraud losses.

Partner with the risk department to ensure that all fraud risks are considered, and appropriate controls are in place.

Make certain that the fraud prevention procedure is incorporated into all new developments.

Escalate issues to management and other functional areas as necessary regarding unusual activities, abnormal transactions, and customer issues. Make recommendations for system improvements to prevent fraudulent activities.

Control testing of accounts, to ensure that they are categorised according to the applicable risk profile.

Document fraudulent activities and flag fraudulent accounts identified during onboarding.

Analyse transaction patterns and respond quickly to high-risk traders.

Attend fraud related meetings, especially on new products and assist with release controls.

Daily, weekly, and monthly resolving of escalations from the Fraud Support Team.

Provide support for all investigations, internal and external.

OTHER RESPONSIBILITIES:

Conduct investigation of syndicates and internal fraud incidents.

Monitoring and conducting of fraud investigations, recording of cases on the fraud databases (internal and external). Including writing of formal incident reports.

Contribute on enhancements and improvement of fraud reports, internal and external (Liaising with the BI team in creation of efficient fraud reports).

Monitor and review flagged transactions generated by the fraud detection system and take appropriate actions to mitigate fraud.

Provide support on the fraud risk assessment.

Assist with identification of fraud risks and provide recommendations.

Analyse transactional data to detect unusual or suspicious activities, and to draw useful insights.

Assist with UAT Usability testing to be done for all deployments.

Manage fraud helpline email inbox and WhatsApp.

Building Stakeholder Relationship.

Participate in IT projects and new product development to bring a proactive risk management focus into new business initiatives.

Liaising with role players in law enforcement and intelligence agencies, assisting with compiling of evidence for successful prosecution.

Ensuring that the business units are aware of relevant loopholes, best practises and assisting them in the implementation of solutions.

Assist in coordination of the Fraud Strategy.

Maintain knowledge of fraud, industry best practices and trends.

MINIMUM REQUIREMENTS:

5+ years of experience in fraud investigations and driving fraud detection and mitigation strategies (experience within data intensive industries such as banking or financial services is preferred)

Certified Fraud Examiner (CFE), Forensic Practitioner (FP)SA Designation or other relevant tertiary qualification

TECHNICAL SKILLS:

Must be fully computer literate - including advanced experience using a wide variety of software packages (i.e., Word processing, spreadsheets and databases) with a strong emphasis on analytical software including Excel and Microsoft Power BI

ADVANTAGEOUS:

Experience in fraud dispute resolution and chargeback process

Anti-money laundering experience or Association of Certified Anti-Money Laundering Specialists (ACAMS)

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