Main purpose
The RCS Group is one of the largest consumer finance businesses in South Africa, and a subsidiary of BNP Paribas. We believe in unlocking possibilities for our customers and our retail partners. We proudly service over 2.2 million retail credit customers in collaboration with more than 600 brands and retailers across South Africa, Namibia & Botswana. We provide credit solutions to clients across multiple platforms and channels, including digital and online.
The primary purpose of this role is to provide accountability and take responsibility for Fraud Risk Management in the business covering application and transactional fraud across multiple channels and products available to our new and existing clients.
For this reason we are seeking a highly skilled and dynamic individual to fill the role of Head of Fraud. The successful candidate will demonstrate strong leadership capabilities, a comprehensive understanding of fraud risk management for secured and unsecured products across multiple platforms, including digital and online platforms, and the ability to drive change across various functions within the organization. This position requires strategic thinking, effective communication, and a proactive approach to identifying and mitigating fraud risks within the application, transactional and digital credit industry. Furthermore, this role will focus on developing and implementing a fraud prevention framework and strategy operationally, and manage the successful implementation thereof. The core fraud strategy resides within the credit risk team with operational fulfillment sitting with the Fraud Operations functional team.
Key responsibilities
Fraud Prevention Strategy Development across all credit solutions, platforms and products.
Manage and optimise performance of fraud risk management tools across all credit solutions and platforms.
Application and transactional fraud Controls and Restrictions
Establish card production, merchant controls and card storing strategies
Oversee Internal Fraud monitoring
Ensure Fraud trend analysis and forecasting with inputs on targets that are set by Credit risk function
Create Fraud management information - Data mining, Business Analysis and Reporting
Accountable for Fraud Loss and Budget projections, including the management of the Fraud Operations and labour budgets
Managing the Fraud Operations, Analytics and Investigations teams
Developing and maintaining good working relationships with external and internal stakeholders
Ensuring compliance with applicable legislation and Group requirements
Effectively integrating with Group and PF teams
Leading direct reports and their teams to ensure optimal performance, engagement and succession
Continuously assess company fraud risk management tools against best practices in the market.
Define and update key parameters for fraud prevention and detection processes.
Develop best in class departmental fraud processes and procedures.
Develop tailored training programs for department members.
Collaborate with key stakeholders to increase fraud awareness and foster a company-wide fraud prevention culture.
Lead special investigation teams reviewing and investigating anomalies and alerts on a regular basis.
Manage and mentor teams and foster a continuous improvement culture.
Communicate with relevant third parties, including customers and suppliers, as needed.
Liaise with key departments (e.g., IT, Finance, Operations, Sales, Collections and Risk to name a few) to drive improvements in fraud prevention and detection.
Key competencies
Specific knowledge, skills & aptitudes (required to deliver the main purpose & key accountabilities)
Strong analytical, strategic and creative problem solving skills
Ability to thrive in a fast paced changing environment
Excellent communication skills and ability to interact at all levels
Ability to deliver accurate outputs
Ability to identify new ideas and alternative ways of working
Ability to absorb new information and learn new techniques quickly
Anticipates problems and makes decisions enabling team to achieve outcomes
Good planning and organizational skills
Must be able to work to and manage deadlines
Customer-oriented, high quality service delivery to internal and external customers
Ability to operate at the conceptual level
Qualifications, Skills and Experience
Relevant Bachelor’s Degree
Minimum 3 to 5 yrs. experience in a similar role
Key understanding of the Fraud investigation process
Knowledge of the criminal justice system and civil recovery procedure
Substantial knowledge and extensive experience in using data analytics, robotics and AI to further strengthen Fraud Prevention & Detection
Forensic Auditing skills
Knowledge of Financial industry, Retail environment and Commercial crime
In depth knowledge of risk management frameworks, governance and controls.
Proven experience in developing and implementing fraud prevention strategies across multiple platforms available to clients. .
Proven track record of successfully implementing fraud prevention initiatives.
Excellent team coordination and leadership skills.
Effective communication and negotiation skills.
Analytical mind-set with the ability to interpret complex data and draw actionable insights.
