Head of Fraud

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Job Summary

Provide leadership to the Frauds Operations team (Acquiring Fraud Monitoring, Cards Fraud Monitoring, Issuing & Acquiring Chargebacks, Transaction, Application and E-Channels) to ensure implementation of Fraud Management programs through embedding Retail, Business Banking and CIB policies to reduce losses.

Job Description

Job Purpose

• To embed fraud prevention/detection processes and procedures, including systems to manage fraud losses within the given budget & Implementation of Fraud Strategy.
• Work with industry counterparts and Fraud Strategy to deal with emerging fraud trends.
• Represent the Bank in external Frauds forums.
• Respond to high fraud exposure incidents.
• Control of merchant fraud by ensuring proper monitoring of exception reports and merchants deposits for all Absa Pan African Countries.
• Monitor Issuing and Acquiring chargebacks adhering to the rules & regulations guided by card schemes by ensuring proper reason codes are being used and card scheme policy is followed to maximize recovery through chargebacks.
• Review all new products for fraud risk.
• Review of Forensic Investigation Reports and provide root cause analysis back to the business with remedial recommendations.
• Test controls on ad-hoc basis.
• Pro-actively seek suspicious looking transactions with a view to pre-empt hits on the bank.
• Query and support business to prevent fraud.
• Link to, and participate in network of stakeholders e.g., other banks, investigators, law enforcement agencies, Card Schemes and Absa risk and compliance functions collate and interpret loss exposure and data.
• Review Fraud Trends and Recommend new strategies to make a difference.
• Steer the Fraud Operations team to undertake desktop investigations into suspicious fraudulent activities.
• Provide expertise and intelligence on fraud prevention, related risk management information and controls.
• Develop training on fraud awareness courses workshops, brochures, and other material to alert employees as to the bank's policy on fraud and how to detect, investigate and report on fraud.
• Develop and implement merchant fraud training.
• Monitor all P & L and suspense accounts related to the Fraud Operations function.
• Be proactive in safeguarding customer interests.
• Review and implementation of fraud monitoring tools.
• Provide expertise and intelligence on fraud prevention, related risk management and controls and reporting of fraud to the various forums.

Key accountabilities/Deliverables/Outcomes

Operational & Risk Management 50%

• Ensure compliance by staff in the department, to the Fraud policy, Fraud Risk Framework service standards and procedures as laid down in the Bank’s procedures.
• Ensure fraud is within agreed fraud appetite
• Ensure fraud alerts are sent to both employees and customers when new fraud trend is identified.
• Ensure fraud is reported to the scheme and regulator as per laid down procedures
• Ensure schemes fraud is within schemes agreed fraud thresholds
• Review chargebacks and ensure Schemes rules and procedures are followed
• Review fraud parameters on quarterly basis
• Develop Fraud strategy

Budget Management 20%

• Implement plans and initiatives to rectify shortfalls in cost performance, actively engage staff in cost effective task management.

Service Management 10%

• Manage customers relationship where fraud is involved
• Ensure complaints are minimized

Staff management/Team leadership 20%

• Develop and agree individual and team performance objectives, standards, and targets.
• Review individual performance, ensuring that training needs are identified and addressed.
• Provide ongoing coaching and feed-back on new initiatives etc.
• Responsible for Team administration

Role/person specification

Qualification

• First Degree in Business /Technology related fields
• Professional Certifications in Fraud, Analytics or Accounting

Experience

• Experience in Risk Management and fraud prevention
• Knowledge and experience of card schemes Risk Management rules, policies and procedures
• Contacts with Law enforcement in relation to fraud
• Experience & Knowledge in customers, and employees Fraud Prevention Training
• Understanding of customers’ needs

Knowledge and Skills

• Thorough knowledge of all of the products and services of Card and Merchant businesses in Africa.
• Thorough knowledge of bank products
• Excellent Risk Management skills- this role is dealing with a cross section of countries across Africa.
• In-depth knowledge of fraud management

***Application Deadline – 20th December 2024***

Absa Bank Kenya is an equal opportunity, affirmative action employer. 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.

Education

Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)