Fraud Analyst

Absa Group; United States; Remote; USD 70,000 - 100,000; Full time

Job summary

A leading company in the banking sector seeks a Fraud Risk Manager to proactively implement controls and monitor fraud activities. The role requires analyzing and managing fraud incidents, ensuring compliance with internal policies, and enhancing fraud awareness. Candidates should possess a diploma in Business Studies and relevant experience in banking operations.

Qualifications

• Knowledge of governance, control, and risk management.
• Practical experience with banking systems and operational processes.
• Understanding of different fraud types.

Responsibilities

• Implement fraud controls and monitor detection activities.
• Research and report suspected fraud incidents.
• Ensure compliance with fraud policies and regulatory requirements.

Skills

Analytical skills

Attention to detail

Customer service orientation

Teamwork

Risk management skills

Education

Diploma in Business Studies or equivalent

Further Education and Training Certificate in Law, Military Science, and Security

Job description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and a strong regional and international presence, 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.

My Career Development Portal: Wherever you are in your career, we are here for you. Design your future. Discover leading-edge guidance, tools, and support to unlock your potential. You are Absa. You are possibility.

Job Summary

The role holder will ensure that fraud controls—both manual (fraud sampling, exception reports, spot checks, etc.) and system-based monitoring—are proactively implemented for all fraud-related activities. Support the execution of the in-country Fraud strategy. Monitor workflow and fraud prevention and detection activities within assigned portfolios, ensuring completion within agreed service levels. Track and report relevant management information to Fraud Management.

Job Description

Accountability: Fraud Risk Management and Monitoring 80%

• Collaborate with the Fraud Manager and team to deliver excellent performance across defined portfolios.
• Support the implementation of fraud prevention/detection processes and procedures, including systems to manage fraud losses within budget.
• Research suspected frauds, operational losses, staff fraud, and breaches, reporting within set timeframes.
• Assist in executing Fraud Management programs aligned with RBB and CIB policies to reduce losses, including monitoring of debit & credit cards, device & session activity, product/application reviews, merchant transactions, client profiles, high-risk channels, internal activities, and accounts.
• Conduct preliminary checks to verify document authenticity and customer or third-party identities.
• Perform monthly reconciliation of fraud losses and recoveries against P&L accounts.
• Investigate fraud incidents through desktop analysis, record examination, interviews, and report findings.
• Support tracking and actioning of forensic investigation recommendations, providing root cause analysis and remedial suggestions.
• Utilize available fraud detection tools for data mining and analytics to enhance proactive fraud identification.
• Assist with management reporting, including consolidating country Fraud KRIs.
• Promote fraud awareness and best practices internally and externally.
• Conduct regular spot checks at branches and other high-risk areas.
• Update the central Fraud database with relevant information and parameters, incorporating insights from investigations and news sources.

Risk Management: Time split 10%

• Ensure timely reporting of fraud events within 24 hours per operational risk policies.
• Maintain regular monitoring and reporting of fraudulent activities, escalating irregularities as needed.
• Support compliance with regulatory and internal fraud policies.
• Assist in closing findings from assurance and external reviews.

Risk and Control: Time split 10%

• Ensure compliance with all regulatory requirements, risk management frameworks, and internal policies.

Preferred Education

• Diploma in Business Studies, Business Administration, or equivalent in a related field.

Knowledge and Skills

• Practical experience with banking systems and operational processes.
• Experience handling customer disputes and complaints.
• Knowledge of governance, control, and risk management.
• Understanding of different fraud types and risk management skills.
• Ability to work effectively within teams.
• Familiarity with Absa's governance, policies, and transaction monitoring technology.
• Strong analytical skills with attention to detail.
• Customer service orientation and relationship management skills.

Education

Further Education and Training Certificate (FETC): Law, Military Science, and Security (Required)