Group Senior Fraud Manager – Insurance

4 weeks ago

Nairobi, Nairobi Area, Kenya Equity Bank Kenya Full time

ABOUT THE COMPANY

Equity Bank Kenya Limited, a financial services provider based in Nairobi, Kenya, operates as a commercial bank under the regulatory oversight of the Central Bank of Kenya.

JOB DESCRIPTION

  • Bachelor's degree in accounting, business administration, risk management, or information technology.
  • Minimum 7 years of experience in the Financial Services sector, with at least 5 years focused on fraud risk management, prevention, detection, or investigations.
  • Preference for candidates with experience in Insurance and Investment.
  • Professional certifications such as Cer

RESPONSIBILITIES

  • Review fraud risk assessments for both new and existing insurance and investment products/services, ensuring thorough evaluation of anti-fraud controls within Risk & Control Self Assessments.
  • Conduct risk assessments utilizing a risk-based approach to identify fraud trends, vulnerabilities, and areas for enhancement in insurance and investment operations.
  • Collaborate with risk heads of subsidiaries to develop comprehensive fraud risk management strategies aligned with the enterprise risk management framework.
  • Provide expert guidance on fraud risk management to business units, aligning with the overall strategy, risk, and fraud management policies.
  • Monitor Key Performance Indicators (KPIs) related to insurance and investment fraud, analyzing trends and assessing the effectiveness of prevention and detection controls.
  • Ensure clear understanding and evaluation of inherent and residual fraud risks, including likelihood, impact, and ratings, in coordination with subsidiary risk heads.
  • Analyze business processes to identify control failures, weaknesses, or procedural lapses related to fraud risk events.
  • Prepare detailed reports on fraud risk exposure, incidents, and mitigation efforts for senior management and board committees.
  • Address inquiries from business units regarding fraud risk management matters.
  • Collect and analyze fraud data and insights to enhance prevention and detection strategies.
  • Curate and share industry best practices in fraud risk management within the insurance and investment sectors.
  • Develop anti-fraud materials for internal training and enhancing customer awareness.
  • Promote a strong fraud risk awareness culture across the business, reinforcing core values and ethical conduct.

REQUIRED SKILLS

Risk Management, Reporting, Compliance, Risk Analysis, Problem Solving

REQUIRED EDUCATION

Bachelor's Degree

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