Let's Write Africa's Story Together!

Old Mutual is a firm believer in the African opportunity and our diverse talent reflects this.

Job Description

At OM Bank, we strive to attract great people who are passionate about coming together for a higher purpose- building something unique and aspirational, always aiming to be the best they can be. We are rooted in our purpose of inspiring and enabling our customers to grow and sustain their prosperity. 

ROLE OVERVIEW

The Fraud Alerts Analyst at OM Bank will be instrumental in safeguarding the bank's integrity and customer trust by monitoring, investigating, and mitigating potential fraudulent activities. The role involves leveraging advanced fraud detection tools and analytics to respond to alerts, analyse suspicious behaviour, and reduce fraud risks while ensuring an excellent customer experience. 

 

KEY RESULT AREAS

 

Fraud Monitoring and Detection: 

Monitor real-time and system-generated fraud alerts for suspicious transactions or account activity on customer accounts. Monitor real-time and system-generated fraud alerts relating to the credit application process on new or existing customer accounts. Identify patterns and trends in fraudulent behaviour to prevent further occurrences. 

 

Investigation and Verification: 

Conduct in-depth investigations into flagged transactions or activities. Contact customers to verify transactions and protect their accounts. Escalate high-risk cases to fraud prevention specialists or management. 

 

Collaboration and Reporting: 

Work closely with Risk Management, Compliance, Service Operations and fellow FRAML trailblazers to resolve fraud cases. Prepare detailed reports on fraud activity, trends, and resolutions for internal use. Act as a subject matter expert for fraud prevention initiatives and provide insights to enhance fraud detection strategies and tools. 

 

Compliance and System Optimization: 

Ensure compliance with all fraud prevention policies, procedures, and regulatory requirements. Recommend system enhancements and participate in testing new fraud prevention tools. 

 

Customer Protection and Advocacy: 

Educate customers on fraud risks and preventative measures. Handle customer concerns regarding fraudulent activity with professionalism and empathy. 

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ROLE REQUIREMENTS

Education: 

Bachelor’s degree in Risk Management, Finance, Business, or related fields (preferred). 

 

Experience: 

2–3 years of experience in fraud detection, financial crime prevention, or a similar role. Knowledge of banking operations and fraud prevention tools. 

 

Skills and Competencies: 

Proficiency in fraud detection software (e.g., SAS, Falcon, Actimize, or equivalent). Strong analytical and critical-thinking skills. Attention to detail with a solid knowledge on Card and Payments fraud is a plus. Excellent communication skills pertaining to collaboration and customer engagements is required with problem-solving abilities. 

Contribute to the formulation of anti-fraud policies in a specific area, such as digital, anti-terrorism, or money laundering. Manage and deliver fraud-prevention reporting and analysis to mitigate fraud risk. Take action to improve systems and procedures, resolve issues, and limit consequential damage.

Responsibilities

Fraud/Financial Crime Management

Deliver fraud prevention reporting and analysis for a designated area of operations, using financial crime/fraud prevention systems to identify instances, patterns, and trends of suspicious activity, to enable the prevention of fraud and enable the initiation of loss mitigations and fraud investigations.

Fraud/Financial Crime Investigation

Investigate cases of suspected fraud or financial crime. Identify lines of inquiry, and gather and retain information and physical or electronic evidence to support criminal investigation and/or legal action, engaging specialist investigators or subject-matter experts where necessary. Review the evidence gathered and recommend appropriate action to the organization

Fraud/Financial Crime-Management Systems Development

Research and identify fraud trends and emerging risks, contribute to the drafting of fraud prevention policies and procedures, and identify opportunities for new and/or improved anti-fraud systems functionalities to support the development of fraud/financial crime prevention strategies, policies, procedures, and monitoring systems..

Organizational Risk Management

Keep track of risk parameters, identifying any deviations and reporting them to more senior colleagues. Involves working within established risk management systems.

Horizon Scanning

Explore and develop a basic understanding of external developments or emerging issues and contribute to the evaluation of their potential impact on, or usefulness to, the organization..

Information and Business Advice

Resolve queries from internal or external customers or suppliers by providing information on complex processes and the related policies, referring issues to others where necessary for interpretation of policy

Data Collection and Analysis |

Collate and analyze data using preset tools, methods, and formats. Involves working independently.

Document Preparation

Organize and prepare complex documents using a variety of applications for technology devices, such as standard office software. Also responsible for gathering and summarizing data for special reports.

Data Management

Help others get the most out of data management systems by providing support and advice.

Operational Compliance

Identify, within the team, instances of noncompliance with the organization's policies and procedures and/or relevant regulatory codes and codes of conduct, reporting these instances and escalating issues as appropriate

Personal Capability Building

Develop own capabilities by participating in assessment and development planning activities as well as formal and informal training and coaching; gain or maintain external professional accreditation, where relevant, to improve performance and fulfill personal potential. Maintain an understanding of relevant technology, external regulation, and industry best practices through ongoing education, attending conferences, and reading specialist media.

Skills

Adaptive Thinking, Data Analysis, Data Controls, Financial Auditing, Information Management, Management Accounting, Planning and organisational skills, Risk Management, Threat Assessment

Competencies

Business Insight

Collaborates

Communicates Effectively

Cultivates Innovation

Decision Quality

Financial Acumen

Instills Trust

Manages Complexity

Education

Bachelors Degree (B) (Required)

Closing Date

12 February 2025 , 23:59

The appointment will be made from the designated group in line with the Employment Equity Plan of Old Mutual South Africa and the specific business unit in question.

Old Mutual Limited is pro-vaccination and encourages its workforce to be fully vaccinated against Covid-19.

All prospective employees are required to disclose their vaccination status as part of the recruitment process.

Please refer to the Old Mutual’s Covid-19 vaccination policy for further detail. Kindly note that Old Mutual reserves the right to reinstate the requirement to vaccinate at any point if it is of the view that it is imperative to do so.

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