Manager: Insights and Analytics Fraud

PRIMARY PURPOSE
The Insights and Analytics Manager is tasked with spearheading the creation and distribution of insights grounded in data to proactively identify, investigate, and avert fraud within the Bank. This position merges sophisticated analytical methodologies, analysis of fraud trends, and collaboration across various functions to pinpoint weaknesses, formulate strategic interventions, and aid in decision-making. The role aims to reduce fraud risks while facilitating business expansion and ensuring adherence to regulatory requirements.

TECHNICAL COMPETENCY REQUIREMENT
• Comprehensive understanding of various fraud categories (such as payment fraud, identity theft, account takeover, etc.) and sector-specific risks.
• Familiarity with fraud prevention frameworks, tools, and compliance obligations.
• Capability to convert technical results into comprehensible business insights.
• Proactive ability to foresee fraud trends and develop strategies for mitigation.
• Proficient in working collaboratively across departments (fraud operations, IT, compliance, product, etc.).
• High level of accuracy in data analysis, reporting, and evaluating fraud cases.
• Upholds stringent standards of confidentiality, data privacy, and compliance.
• Consistently meets deadlines while ensuring quality of output.
• Skilled in interpreting complex datasets to reveal actionable insights on fraud.
• Team-oriented.
• Strong problem-solving abilities.
• Meticulous attention to detail.

REQUIRED MINIMUM EDUCATION AND TRAINING
• Diploma in Analytics and Data Extraction or equivalent.
• CFE (Certified Fraud Examiner).

REQUIRED MINIMUM WORK EXPERIENCE
• A minimum of 5 years' experience in a Fraud Department dealing with various facets of fraud and investigations.
• At least 5 years of experience in Fraud insights and analytics.

KEY PERFORMANCE AREA (KPA)

FINANCIAL MANAGEMENT
• Mitigate losses and prevent future losses through the appropriate application of procedures.
• Establish cost-effective guidelines when necessary.
• Minimize financial losses where feasible through effective utilization of data analytics and tools.

CUSTOMER CENTRICITY
• Collaborate closely with operational teams to ensure that any generated fraud alerts are addressed with an appropriate treatment strategy based on the identified risk.
• Foster trusting relationships with management and employees at Bidvest Bank to promote compliance with AML, CTF, and sanctions programs, ensuring a culture of regulatory compliance is upheld.
• Provide ongoing feedback to Fraud Operations teams regarding alerts that have been incorrectly released, which could lead to successful fraud incidents.
• Engage in confidential communication with employees to address any concerns regarding ethical practices and other compliance-related issues within Bidvest Bank.
• Assist Alliance Partners in all aspects of Fraud prevention and detection platforms and data sets.

OPERATIONAL EXCELLENCE
• Develop and establish systems and platforms within the Financial Crime Unit responsible for analyzing fraud trends, identifying root causes, and recommending strategies to combat fraud by enhancing processes or fraud detection techniques.
• Write and negotiate SLA processes with all internal and external parties and service providers that interact with the unit and its processes.
• Continuously monitor fraud detection systems to ensure optimal performance in line with risk appetite.
• Analyze fraud patterns—implement and enhance strategies within fraud detection systems across all types of fraud.
• Manage projects and update scheme workflows related to all third-party engagements and service providers, including system enhancements and the rollout of newly approved platforms and systems.
• Ensure updates and improvements to the process and procedure manual.
• Provide regular feedback to Fraud Operations teams regarding any alerts that have been inaccurately released, leading to successful fraud incidents.
• Update and develop fraud rules.
• Enhance and refine fraud detection methods and processes.
• Assist in managing bin attacks and data extractions relevant to investigations.
• Analyze datasets to extract trends and pinpoint issues and risks.
• Conduct thorough root cause analysis to identify control and/or process/procedure failures that enable fraud attacks.
• Escalate issues to the process/control owner/stakeholder to ensure that necessary changes can be developed and implemented.
• Proactively identify potential fraud vulnerabilities and suggest improvements to systems, policies, and processes.
• Support the design of real-time alerting and case management systems to improve fraud response.
• Take responsibility for achieving operational objectives within your area of control.

PEOPLE LEADERSHIP
• Inspire, motivate, and support your team to ensure effective delivery of high-quality work while meeting both organizational and individual goals.
• Contribute to teamwork (including levels of teamwork, accountability, delivery, quality, and efficiency of shared information).
• Build a high-performing team where the best individuals are assigned to the right roles and contribute to strategic goals.
• Promote and embody the business's core values.
• Ensure that all employees are motivated and nurtured.
• Implement and uphold an effective system of internal controls and delegations of authority for the department, ensuring accountability for decisions made.
• Inspire and engage employees around the Bank's vision and strategy, maximizing engagement and willingness to put forth extra effort.
• Maintain departmental structures, processes, and resources.

REPORTING AND DATA MANAGEMENT
• Update and test fraud rules to ensure that their parameters align with the false positive ratio versus actual fraud.
• Create and develop fraud reports as necessary.
• Ensure that analytics and reporting processes conform to regulatory, legal, and audit standards.
• Uphold data privacy and ethical standards throughout all analytical activities.
• Assist in managing bin attacks and data extraction.
• Update and test fraud rules to confirm that their parameters are consistent with the false positive ratio versus fraud.
• Lead the analysis of transactional and behavioral data to uncover emerging fraud patterns, trends, and anomalies.
• Translate complex data into actionable insights and recommendations for fraud prevention and detection.
• Manage projects and update scheme workflows related to all third-party engagements and service providers, including system enhancements and the implementation of newly approved platforms and systems.
• Enhance and update process and procedure manuals.

LEARNING AND GROWTH
• Collaborate with Learning & Development and Internal Communications teams to design and implement suitable financial crime education, training, and communication for employees.
• Take responsibility for driving your own career development.
• Achieve the objectives/milestones outlined in the development plan.
• Prepare and finalize the development plan.
• Develop a knowledge base and intellectual property.

This position is advertised in accordance with our commitment to Employment Equity.