Operational and Fraud Risk Manager

Lesaka Technologies Inc.; Cape Town; On-site; ZAR 600,000 - 900,000; Full time

Job summary

A technology firm in South Africa seeks an Operational and Fraud Risk Manager to enhance risk management across the Enterprise Division. You will monitor risks, manage fraud investigations, and ensure effective controls while fostering a strong risk-aware culture. Ideal candidates must have 5-7 years of experience in risk management, preferably in financial services. The role requires strong analytical skills, a BCom degree in a relevant field, and proficiency in risk systems.

Qualifications

• 5–7 years’ experience in Operational Risk and Fraud Risk Management.
• Experience within financial services, payments, or fintech is essential.
• Competent in conducting investigations and risk reporting.

Responsibilities

• Support the design and implementation of Operational and Fraud Risk management.
• Monitor and analyse Operational Risk indicators and fraud trends.
• Investigate fraud cases and ensure timely resolution.

Skills

Analytical skills

Problem-solving skills

Communication skills

Risk management expertise

Education

BCom Degree in Risk Management, Law, Economics, Finance, or related fields

Additional Operational Risk or Fraud certifications

Tools

Risk systems

Reporting tools

Data analysis platforms

Job description

Overview

The Operational and Fraud Risk Manager supports the design, implementation, and continuous improvement of Operational Risk and Fraud Risk management across the Enterprise Division. The role is responsible for day-to-day risk operations, monitoring emerging risks, managing fraud investigations, ensuring effective controls are in place, and driving a strong risk-aware culture within business units. Working under the Executive Head of Risk and Fraud, the incumbent ensures timely reporting, operational execution, and stakeholder engagement to safeguard the organisation’s operational stability, financial integrity, and customer trust.

Key Performance Areas

• Strategy Execution and Support
• Support the implementation of Operational Risk and Fraud Risk strategies aligned to business objectives.
• Translate strategic plans into operational actions for the Enterprise Division.
• Provide input into risk policy updates, frameworks, and standards.
• Coordinate risk-related projects and ensure successful execution.
• Risk Identification, Data Analysis and Trend Monitoring
• Monitor and analyse Operational Risk indicators, fraud trends, and transactional patterns to identify weaknesses, emerging risks and control failures.
• Conduct analysis on risk events, control failures, and fraud incidents to determine root causes.
• Recommend preventative and corrective actions to reduce future occurrences.
• Maintain accurate and up-to-date Operational Risk and Fraud MIS.
• Operational Management and Control Execution
• Act as 1st Line of Defence for business units in identifying, assessing, and mitigating Operational Risks.
• Maintain and update Operational and Strategic Risk Registers in collaboration with business teams.
• Conduct business assurance and control testing to validate effectiveness of key controls.
• Provide Operational Risk subject-matter support during product, process, or channel changes.
• Facilitate training sessions to embed a risk-aware culture in the business.
• Proactively escalate risk concerns and track remediation actions to closure.

Fraud-specific Responsibilities

• Investigate fraud cases and ensure timely resolution.
• Identify control breakdowns and recommend improved controls to prevent future fraud.
• Test enhancements to ensure controls operate effectively.
• Track fraud metrics against acceptable thresholds and escalate variances.
• Team Support, Management and Cross-Functional Collaboration
• Assist in coordinating operational activities within the Risk and Fraud teams.
• Work closely with internal and external specialists to test for vulnerabilities.
• Support collaboration between business teams, IT, and Fraud Operations to prevent duplication of effort.
• Manage Operational and Fraud Risk teams as is necessary.

Experience

• 5–7 years’ experience in Operational Risk and Fraud Risk Management.
• Experience within financial services, payments, or fintech is essential.
• Experience working within Risk frameworks and performing control testing.
• Competent in terms of conducting investigations, root-cause analysis, and risk reporting.

Qualifications And Skills

• BCom Degree in Risk Management, Law, Economics, Finance, or related fields.
• Additional Operational Risk or Fraud certifications advantageous.
• Strong analytical and problem-solving skills.
• Ability to translate complex information into actionable insights.
• Proficiency with risk systems, reporting tools, and data analysis platforms.

Work Behaviours And Attributes

• Strong organisational and execution capability.
• Proactive, structured, and analytical thinker.
• Able to engage stakeholders at all levels and build trust.
• Good communication (written and verbal) and reporting capability.
• Collaborative team player with the ability to influence without authority.
• High level of integrity, attention to detail, and accountability.