Job Description

MAIN FUNCTIONS OF THE JOBFraud Detection and Prevention

• Monitor real-time transaction data and account activity using fraud detection tools.
• Identify patterns, anomalies, and potential indicators of fraud.
• Recommend and implement preventative measures to mitigate risk.

Investigation and Reporting

• Conduct thorough investigations of suspicious transactions, customer accounts, or system alerts.
• Collaborate with internal teams and external stakeholders, including law enforcement agencies, to gather evidence and resolve cases.
• Prepare detailed reports and summaries for management and regulatory compliance.
• Report to the Anti-financial crimes committee / ECC / Risk & Audit committee
• Reporting confirmed Fraud cases to SAFPS
• Reporting confirmed fraud cases to PRECCA where applicable.

Risk Assessment

• Evaluate fraud risks for new and existing financial products or services.
• Analyse emerging fraud trends and develop strategies to counteract them.
• Contribute to the development of fraud detection models and thresholds.

Customer Interaction

• Communicate with customers to validate transactions and gather additional information, ensuring a professional and empathetic approach.
• Educate customers on fraud prevention best practices.

Compliance and Training

• Ensure adherence to legal and regulatory requirements related to fraud prevention and reporting.
• Provide training and guidance to bank employees on fraud detection techniques and policies.
• Maintain, customise, and update the fraud procedure in line with the environment.
• Maintain and update the Fraud Manual applicable to Albaraka South Africa and aligning the manual with Albaraka Banking group.

QUALIFICATIONS

• Bachelors degree in finance, Accounting, Business, Computer Science, or a related field.
• Professional certifications such as Certified Fraud Examiner (CFE) or Certified Anti-Money Laundering Specialist (CAMS) are advantageous.
• Awareness of current and emerging fraud schemes, techniques, and prevention strategies.
• Familiarity with industry standards, compliance requirements, and regulatory frameworks.

PREFERRED EXPERIENCE

• 2-5 years of experience in fraud detection, risk analysis, or a similar role in the banking or financial services sector.

KNOWLEDGE

• Knowledge of Fraud Trends and Regulations
• Proficiency in fraud detection software, data analysis tools, and CRM systems.
• Strong knowledge of banking systems, payment processes, and regulatory frameworks.
• Familiarity with SQL, Excel, and data visualization tools is a plus.
• Ability to analyse complex data sets and detect unusual patterns or anomalies.
• Familiarity with fraud detection tools, data analysis software, and banking systems.