Experience Required: 10 years in the banking industry with a focus on fraud management and prevention. The daily job responsibilities of a Senior Business Analyst specializing in Fraud Management within the banking industry would involve a range of tasks aimed at identifying, analyzing, and mitigating fraud risks Key Responsibilities: Fraud Detection and Analysis: Fraud Detection Strategy: Develop and implement effective fraud detection strategies in collaboration with cross-functional teams, leveraging advanced analytics and technologies to identify potential fraud risks. Risk Assessment and Analysis: Conduct comprehensive risk assessments and analysis to identify emerging fraud trends, patterns, and vulnerabilities within banking operations. Requirements Gathering: Lead requirements gathering sessions with stakeholders to understand business needs and translate them into detailed functional and non-functional requirements for fraud management systems and processes. Solution Design: Collaborate with technical teams to design fraud detection and prevention solutions, ensuring alignment with business objectives, regulatory requirements, and industry best practices. Data Analysis: Perform data analysis and visualization to identify suspicious activities, patterns, and anomalies indicative of fraudulent behavior, leveraging data mining techniques and fraud detection tools. Fraud Prevention Measures: Recommend and implement fraud prevention measures, including process enhancements, system controls, and policy updates to mitigate fraud risks and losses. Regulatory Compliance: Ensure compliance with regulatory guidelines and standards related to fraud detection and prevention, including Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Stakeholder Management: Collaborate closely with internal stakeholders, including fraud investigators, risk managers, IT teams, and legal counsel, to facilitate effective fraud management practices and initiatives. Duties Analyzing transactional data and customer behavior patterns to identify potential fraudulent activities. Investigating suspicious transactions or activities flagged by fraud detection systems. Reviewing alerts generated by fraud monitoring tools and conducting in-depth analysis to determine the legitimacy of transactions. Collaborating with fraud investigators and forensic analysts to assess fraud risks and develop mitigation strategies. Requirements Gathering and Solution Design: Facilitating meetings with stakeholders to gather requirements for enhancing fraud detection and prevention systems. Documenting business needs and translating them into detailed functional and non-functional requirements. Collaborating with technical teams to design and implement fraud management solutions, ensuring alignment with business objectives and regulatory requirements. Data Analysis and Reporting: Performing data analysis and visualization to identify trends, patterns, and anomalies indicative of fraudulent behavior. Generating reports and dashboards to communicate key fraud metrics, trends, and insights to senior management and relevant stakeholders. Monitoring key performance indicators (KPIs) related to fraud detection rates, false positive rates, and mitigation effectiveness. Fraud Prevention Measures: Recommending and implementing fraud prevention measures, including process improvements, system controls, and policy updates. Conducting fraud risk assessments to identify vulnerabilities and gaps in existing fraud prevention controls. Developing and implementing fraud awareness and training programs for employees to enhance fraud prevention capabilities across the organization. Regulatory Compliance: Ensuring compliance with regulatory guidelines and standards related to fraud detection and prevention, including Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Staying abreast of regulatory developments and industry best practices in fraud management to ensure ongoing compliance and risk mitigation. Stakeholder Management: Collaborating closely with internal stakeholders, including fraud investigators, risk managers, IT teams, and legal counsel, to facilitate effective fraud management practices and initiatives. Providing regular updates and insights to senior management and relevant stakeholders on fraud-related matters and mitigation efforts. Overall, the daily job of a Senior Business Analyst in Fraud Management involves a combination of data analysis, solution design, collaboration with stakeholders, and regulatory compliance activities to proactively detect, prevent, and mitigate fraud risks within the banking environment. POPIA By submitting your CV, you confirm that: • We may retain your personal information in our database for future matching. • If you haven't heard from us within two weeks consider your CV unsuccessful. • We may contact you when suitable opportunities arise. • The information you have provided to us is true, correct, and up to date. Skills and Qualifications: Bachelor's degree in Finance, Business Administration, or related field. Advanced degree preferred. Proven track record of 10 years in fraud management within the banking industry, with experience in both retail and commercial banking environments. In-depth knowledge of fraud detection and prevention methodologies, tools, and technologies, including machine learning, predictive modeling, and anomaly detection. Strong analytical skills with the ability to interpret complex data sets and identify fraudulent patterns and trends. Excellent communication and stakeholder management skills, with the ability to effectively engage and influence cross-functional teams and senior leadership. Familiarity with regulatory requirements and compliance frameworks governing fraud management in the banking sector. Professional certifications such as Certified Fraud Examiner (CFE) or Certified Fraud Specialist (CFS) preferred. Apply Now

Share this job with someone you think should apply!

Facebook

Senior Business Analyst Johannesburg - Johannesburg

Related Jobs

Manager Risk Johannesburg - South Africa

Operations Manager: Fraud and Risk - Johannesburg

Operations Manager Johannesburg North - North Johannesburg

Operations Manager Midrand - Midrand

Operations Manager - Midrand

Want to do another search?