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Manager, Fraud Risk Management at Standard Bank Group


Accounting, Auditing & Finance

KES Confidential
2 weeks ago

Job Summary


Job Description/Requirements

Job Description

(adsbygoogle = window.adsbygoogle || []).push({}); Standard Bank Group is the largest African banking group by assets offering a full range of banking and related financial services. “Africa is our home, we drive her growth” Our vision is to be the leading financial services organisation in, for and across Africa, delivering exceptional client experiences and superior value. This sets the primary goals and standard of excellence we intend to achieve in the medium term. With a heritage of over years, we have an on-the-ground presence in 20 countries in sub‑Saharan Africa; fit-for-purpose representation outside Africa; and a strategic partnership with the Industrial and Commercial Bank of China (ICBC). In line with the realities of risk, regulation, technology and competition that characterise our operating context, we continue to invest significantly in our diversified operations; our people and culture; our systems and infrastructure; and our brand. In doing so, we understand that our commercial success and social relevance over the long term depends on placing our clients at the centre of everything we do, and ensures that the outcomes of our activities are a catalyst for growth on this continent we call home. The long-term foreign currency ratings for The Standard Bank of South Africa, the single largest operating entity within the Standard Bank Group, are: Fitch Ratings BBB- (negative), Moody’s Baa2 (negative) and Standard & Poor’s BBB- (negative). The group is listed on the JSE Limited, share code SBK, and the Namibian Stock Exchange, share code SNB. The largest bank in the world, ICBC, is a 20.1% shareholder in the group. Other than the 20.1% ICBC shareholding, 32.9% of Standard Bank’s shareholder base is foreign. We subscribe to the Code of Banking Practice, a set of principles governing banking in South Africa and ensuring the highest standards of professionalism, integrity and fairness.

Job Purpose;

To implement a first line prevention and detection fraud risk management capability for PPB in country in order to provide a consistent, seamless customer experience by mitigating fraud risk whilst reducing customer friction.



Defines the client messaging and communication strategy for fraud awareness and prevention in collaboration with FRM Domain and PPB Country. Identifies and monitors the appropriate communication channels to execute the client messaging. Ensures and monitors adherence to minimum standards for client authentication (e.g., magstripe pin authentication, etc.). Utilises the ‘Refund, no Refund’ guidelines with consideration for the client, product, platform and risk.

Risk Appetite

Ensures the risk appetite is maintained regarding fraud rules mandate and customer friction. Monitors the ‘Refund no Refund’ guidelines with consideration for customer, product, platform and conduct risk. Monitors operational and product risk regimes and parameters such as offline card parameters, chip configuration, fraud recovery strategies. Monitors recovery strategies for products and platforms.


Applies and monitors the fraud risk parameters and recovery strategies for products and associated platforms (e.g., Application fraud, chip enabled) in collaboration with FRM Domain and PPB Country stakeholders. Assists with procurement processes (RFP’s), where required.

Training and Awareness

Monitors and reports on implementation of the FRM Domain Learning and Development plans. Measures, reports and ensures learning effectiveness.

Information Technology

Contributes to relevant technology requirements (application fraud, fraud prevention and detection systems including I&A tools, fraud case management, messaging engines like Adeptra, authentication tools (biometric and in-app requirements). Monitors and identifies critical external data sourcing (i.e. negative listings).

Risk, Reg, Regulatory and Compliance

Monitors and ensures compliance with relevant fraud risk associated regulatory bodies. Identifies and escalates control weaknesses that have a fraud impact to relevant Risk Control Committees (RCC’s) to ensure remediation and tracking. Ensures that the control weaknesses are collated on a central control weakness repository.


Monitors FRM operating costs and other metrics (e.g. Gross Fraud Losses, Nett Losses, Customer Losses, Recoveries, etc.) and ensures remedial actions are prioritised and implemented accordingly.


Minimum Qualifications

Type of Qualification: First Degree Field of Study: Banking

Experience Required

Client Coverage Consumer & High Net Worth 5-7 years Experience in managing a complex service environment. Experience in all facets of the banking service environment and its associated products, processes, and systems with experience in fraud risk management across banking products and platforms. Experience and knowledge of dealing with client relevant legislation and how it is implemented in a banking environment.


Behavioral Competencies:

Adopting Practical Approaches Articulating Information Embracing Change Examining Information Exploring Possibilities Generating Ideas Interpreting Data Making Decisions Providing Insights Taking Action Team Working Upholding Standards

Technical Competencies:

Compliance Customer Reception and Channelling Product and Services Knowledge Risk Management Risk Reporting Verbal Communication

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