Group Senior Fraud Manager

2 weeks ago

Nairobi, Nairobi Area, Kenya Equity Bank Kenya Full time
Equity Bank Limited (The "Bank") is incorporated, registered under the Kenyan Companies Act Cap 486 and domiciled in Kenya. The address of the Bank's registered office is 9th Floor, Equity Centre, P.O. Box Nairobi.

Job Purpose:


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.


The pivotal position of Group Senior Fraud Manager – Credit is instrumental in the seamless implementation of the Fraud Risk Management Framework within the Credit (Borrow) businesses across the Group.

Collaborating closely with subsidiary heads of risk and fraud management, the incumbent is tasked with ensuring the continuous identification, assessment, and evaluation of credit fraud risks, followed by their proficient mitigation.

This role reports directly to the Group Fraud Risk Management Director.

Job Responsibilities:

Review fraud risk assessments for both existing and new credit products and services while ensuring anti-fraud controls are evaluated as part of Risk & Control Self Assessments by the lending business and operation units.

Conduct credit fraud risk assessments taking a risk-based approach for businesses, products, processes, and systems to identify emerging fraud trends, vulnerabilities, and areas for improvement.

Collaborate with subsidiaries heads of risk to formulate comprehensive credit fraud risk management strategies aligned with the Group's enterprise risk management framework.

Provide credit fraud expert advice to the business on fraud risk management, controls, and initiatives in line with business strategy, enterprise risk, and fraud management policies and framework.

Monitor Key Performance Indicators (KPIs) for credit fraud, analyzing trends and their impact on the business, while measuring the effectiveness of fraud prevention and detection controls.

Ensure a clear understanding, evaluation, and agreement on inherent and residual credit fraud risks, including their likelihood, impact, and ratings with respective subsidiary risk heads.

Analyze credit business processes to identify control failures/weaknesses and/or procedure breaks related to fraud risk events, including an evaluation of the performance of credit fraud risk controls, tools, and data usage across all credit units and channels.

Prepare comprehensive management and board reports on credit fraud risk exposure, incidents, and mitigation efforts to senior management and relevant board committees.

Respond to inquiries from credit business units regarding fraud risk management issues.
Collect and analyze credit fraud data and insights for use in fraud prevention and detection.
Curate and disseminate credit industry best practices related to fraud risk management.
Develop relevant credit anti-fraud materials for internal training and customer fraud awareness.
Instill a robust fraud risk awareness culture within credit businesses, fortifying the Group's values and code of conduct.

Requirements
Qualifications

Bachelor's degree in accounting, business administration, risk management, or information technology.

7+ years of experience in Financial Services with at least 5 years' experience in fraud risk management, prevention, detection, or investigations.

Experience in Credit will be an added advantage
Professional certifications such as Certified Fraud Examiner (CFE) is highly desirable.

Competencies:
In-depth knowledge of fraud prevention and detection techniques, technologies, and Credit industry best practices.
Understanding of Credit fraud risks, business controls, regulatory issues, and market practices.
Ability to collaborate with other teams and influence change within business units and teams.

Strong analytical and problem-solving skills, with the ability to deduce insights from diverse data sets and identify potential fraud indicators.

Excellent communication, negotiation, and presentation skills, with the ability to convey risk management concepts to diverse audiences.
Proficiency in regulatory frameworks and compliance requirements related to credit/lending.
Leadership and team management abilities, with a track record of championing the implementation of control recommendations.

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