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Fraud Risk Analyst

Closing: May 23, 2024

This position has expired

Published: May 9, 2024 (20 days ago)

Job Requirements

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Job Summary

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The Group's Enterprise Risk Management (ERMF) integrates Fraud as a principal risk type, necessitating meticulous management to align with the Group's strategic objectives. The effective handling of fraud risks adheres to the Group's Fraud Risk Management Framework and relies on adept anti-fraud professionals.

As a Fraud Risk Analyst, you will be responsible for identifying, assessing, and mitigating potential fraud risks across the Equity Group. Your primary focus will be on analyzing transactional data, risk events and incidents data, monitoring suspicious activities and control effectiveness. You will collaborate with cross-functional teams to develop and enhance fraud detection processes and procedures and implementing strategies to prevent and detect fraudulent behaviors. 

This role reports directly to the Head of Group Fraud Risk Management. 

Qualifications

Educational & Professional Qualifications:

  • Bachelor’s degree in accounting, business administration, risk management, data analytics or IT. 
  • Experience in data analytics and knowledge of programming languages. 
  • Professional certifications such as Certified Fraud Examiner (CFE) will be an added advantage. 

Competencies:

  • Proven experience in fraud detection, risk analysis, or investigative roles within the financial services industry or a similar sector. 
  • Strong analytical skills with the ability to interpret complex data sets and identify meaningful insights. 
  • Proficiency in data analysis tools and techniques, such as SQL, SAS, Python, or R. 
  • Excellent communication skills, with the ability to articulate complex concepts clearly and concisely. 
  • Strong attention to detail and a commitment to maintaining the highest standards of accuracy and integrity. 
  • Ability to work effectively both independently and collaboratively in a fast-paced, dynamic environment.


Responsibilities

The Group's Enterprise Risk Management (ERMF) integrates Fraud as a principal risk type, necessitating meticulous management to align with the Group's strategic objectives. The effective handling of fraud risks adheres to the Group's Fraud Risk Management Framework and relies on adept anti-fraud professionals.

As a Fraud Risk Analyst, you will be responsible for identifying, assessing, and mitigating potential fraud risks across the Equity Group. Your primary focus will be on analyzing transactional data, risk events and incidents data, monitoring suspicious activities and control effectiveness. You will collaborate with cross-functional teams to develop and enhance fraud detection processes and procedures and implementing strategies to prevent and detect fraudulent behaviors. 

This role reports directly to the Head of Group Fraud Risk Management. 

Qualifications

Educational & Professional Qualifications:

  • Bachelor’s degree in accounting, business administration, risk management, data analytics or IT. 
  • Experience in data analytics and knowledge of programming languages. 
  • Professional certifications such as Certified Fraud Examiner (CFE) will be an added advantage. 

Competencies:

  • Proven experience in fraud detection, risk analysis, or investigative roles within the financial services industry or a similar sector. 
  • Strong analytical skills with the ability to interpret complex data sets and identify meaningful insights. 
  • Proficiency in data analysis tools and techniques, such as SQL, SAS, Python, or R. 
  • Excellent communication skills, with the ability to articulate complex concepts clearly and concisely. 
  • Strong attention to detail and a commitment to maintaining the highest standards of accuracy and integrity. 
  • Ability to work effectively both independently and collaboratively in a fast-paced, dynamic environment.


  • Utilize advanced analytics and data mining techniques to identify patterns and anomalies indicative of fraudulent activity across the various business and operational units.
  • Monitor transactional data and conduct regular reviews to proactively identify emerging fraud trends and risks facing Equity Group. 
  • Assess the severity and potential impact of identified fraud risks on the Group's operations, finances, and reputation. 
  • Conduct comprehensive risk assessments to evaluate vulnerabilities and weaknesses in existing fraud prevention measures. 
  • Analyze historical data and industry trends to anticipate future fraud threats and recommend proactive risk mitigation strategies. 
  • Develop and implement fraud prevention strategies and controls to mitigate risks effectively. 
  • Collaborate with internal stakeholders, including 1st, 2nd and 3rd lines of defense personnel, legal, and IT teams, to establish robust fraud prevention policies and procedures. 
  • Stay abreast of industry best practices and emerging technologies to enhance fraud prevention capabilities continuously. 
  • Prepare detailed reports and presentations on fraud trends, incidents, and mitigation efforts for senior management and regulatory authorities. 
  • Maintain accurate documentation of fraud incidents, investigations, and resolutions in compliance with regulatory requirements and internal policies. 
  • Provide training and support to employees on fraud awareness, detection techniques, and reporting. 
  • Raise awareness of fraud risks and prevention measures across the organization through regular communications and educational initiatives.


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