Head, Fraud Preventions, Fraud Solutions
Apply remote type: Hybrid
Locations: Johannesburg
Time type: Full time
Posted on: Posted 3 Days Ago
Time left to apply: End Date: October 3, 2024 (3 days left to apply)
Job requisition id: R-15965013
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 Preventions is accountable for providing leadership, strategic direction, coordination, and oversight of the areas within the Fraud Preventions function. The role services Everyday Banking, Relationship Banking, and Product Solutions cluster in preventing fraud that may manifest from any of these clusters. The role is not only internally focused but must build strategic relationships with external parties such as merchants and other banks to enhance fraud preventions and recoveries when fraud is suspected or has taken place. The incumbent will lead a number of senior managers that report into this role.
The incumbent is accountable for sourcing and managing suppliers that provide fraud supporting tools aimed at improving the effectiveness and efficiencies of the environment. The Preventions function manages the Fraud Hotline and e-channels which are the first point of contact for the customer, playing an important role in dealing with fraud reporting and proactively detecting and validating fraudulent activity to minimize fraud losses.
The role is accountable for supporting the development of the Fraud Solutions strategy, translating this into actionable plans, driving operational implementation and adoption with specific performance measures and control systems to track progress.
The role evaluates, reviews, and reports on risk types across the portfolio, including the identification of potential fraud trends, threats, and risk mitigation feedback. The role builds the Fraud Solutions Preventions team, manages the operating expense budget, and develops stakeholder relationships across the Bank and externally.
Job Description
Accountability: Strategy and Execution (20%)
- Support and co-create the Fraud Solutions Strategy to meet its ambition of Global leadership in providing superior fraud solutions.
- Understand the overall fraud environment, its dynamics, trends, and strategies to enable achievement of business objectives.
- Formulate and drive delivery of the Fraud Solutions Preventions function’s Strategy to ensure a best-in-class operation.
- Identify and implement opportunities to build and optimize the capability to deliver on business objectives.
- Provide management direction to translate strategic plans into tactical and operational plans and processes.
- Proactive leadership and oversight on continuous improvement of fraud detection and decision rules.
- Support the operationalisation of new fraud detection rules and mitigating controls.
- Review identified gaps in strategies, processes, and systems and take action to mitigate emerging fraud risks.
- Maintain governance and oversight by delivering internal and external reports.
- Provide oversight and input on the development and enhancement of systems and architecture.
Accountability: Business Management (20%)
- Provide management direction and oversight across management areas including Hotline and e-channel, Digital Fraud, Fleet Fraud, & Merchant Fraud.
- Define the operational architecture for the Function.
- Serve as an escalation point for operational issues.
- Drive alignment of Fraud Preventions services with the requirements of Fraud Strategy.
- Drive operational efficiencies through process and technological innovation.
- Develop and manage budgets and drive cost efficiencies.
- Monitor and report on fraud metrics.
Accountability: Provide leadership for effective people and team management (20%)
- Negotiate and agree performance targets across direct reports.
- Develop a high-performing team by embedding formal performance development.
- Determine and analyze development needs for the team.
- Develop and execute the talent management strategy.
Accountability: Risk and Control (20%)
- Ensure business risks are identified and controls are designed.
- Ensure all required risk controls are recorded and monitored.
- Review and approve Control Risk Self Assessments (RCSA's).
- Act as sponsor for the area’s Risk Management Control Framework.
Accountability: Stakeholder Management (20%)
- Manage internal and external stakeholder engagements.
- Work closely with other Fraud Solutions areas.
- Develop and maintain partnerships with local industry institutions.
- Attend Product Portfolio Quality Fraud Risk Reviews.
Preferred Education
- Bachelor's Degree: Business, Commerce and Management Studies (Required)
- Master of Business Administration or Equivalent (Advantageous)
Preferred Experience
- 8-10 years Financial Services experience.
- Leadership Operations Management Experience.
- Experience working in a Fraud or Risk environment.
- 5 years senior leadership management experience.
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.
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