Overview
Fraud Officer Jobs in KwaZulu-Natal at Al Baraka Bank Pty Ltd
MAIN FUNCTIONS OF THE JOB
Fraud Detection and Prevention
Monitor real-time transaction data and account activity using fraud detection tools.
Identify patterns, anomalies, and potential indicators of fraud.
Recommend and implement preventative measures to mitigate risk.
Investigation and Reporting
Conduct thorough investigations of suspicious transactions, customer accounts, or system alerts.
Collaborate with internal teams and external stakeholders, including law enforcement agencies, to gather evidence and resolve cases.
Prepare detailed reports and summaries for management and regulatory compliance.
Report to the Anti-financial crimes committee / ECC / Risk & Audit committee
Reporting confirmed Fraud cases to SAFPS
Reporting confirmed fraud cases to PRECCA where applicable.
Risk Assessment
Evaluate fraud risks for new and existing financial products or services.
Analyse emerging fraud trends and develop strategies to counteract them.
Contribute to the development of fraud detection models and thresholds.
Customer Interaction
Communicate with customers to validate transactions and gather additional information, ensuring a professional and empathetic approach.
Educate customers on fraud prevention best practices.
Compliance and Training
Ensure adherence to legal and regulatory requirements related to fraud prevention and reporting.
Provide training and guidance to bank employees on fraud detection techniques and policies.
Maintain, customise, and update the fraud procedure in line with the environment.
Maintain and update the Fraud Manual applicable to Albaraka South Africa and aligning the manual with Albaraka Banking group.
QUALIFICATIONS
Bachelor’s degree in finance, Accounting, Business, Computer Science, or a related field.
Professional certifications such as Certified Fraud Examiner (CFE) or Certified Anti-Money Laundering Specialist (CAMS) are advantageous.
Awareness of current and emerging fraud schemes, techniques, and prevention strategies.
Familiarity with industry standards, compliance requirements, and regulatory frameworks.
PREFERRED EXPERIENCE
2-5 years of experience in fraud detection, risk analysis, or a similar role in the banking or financial services sector.
KNOWLEDGE
Knowledge of Fraud Trends and Regulations
Proficiency in fraud detection software, data analysis tools, and CRM systems.
Strong knowledge of banking systems, payment processes, and regulatory frameworks.
Familiarity with SQL, Excel, and data visualization tools is a plus.
Ability to analyse complex data sets and detect unusual patterns or anomalies.
Familiarity with fraud detection tools, data analysis software, and banking systems.
Title: Fraud Officer
Company: Al Baraka Bank Pty Ltd
Location: KwaZulu-Natal
