Apply for Job

Specialist, Fraud Rules Model and Lifecycle Mgmt.

Vacancy Details

Reference No.

TS1-44185

Synopsis

A financial services provider is seeking to employ a Specialist, Fraud Rules and Model Lifecycle Management who will be responsible for overseeing rules implementation into detection systems and ensuring rules are coded correctly and working as intended (incl. liaising with relevant stakeholders if rules are not triggering any alerts.)

Description

  • Oversee building of new rules based on emerging fraud threats and inputs from fraud rules business requirements (incl. testing of new rules, impact assessment with regards to customer friction and fraud frustration as well as continuous monitoring of rules performance)
  • Maintain an inventory of all rules and ensure overall set does sufficiently mitigate underlying risks (within as well as across portfolios) – suggest changes to current rule set to BRCM via rules performance reporting and rules (if required) (incl. explanation why a new rule / a change to an existing rule is required and what the impact of rule introduction is expected to be)
  • Ensure the right capabilities are in place within the I and A rules and model lifecycle management in order to ensure fulfilment of its mandate
  • Escalate any concerns with regards to the above to the organisation (via I and A Rules performance reporting or in urgent cases ad hoc) and the head of insights and analytics
  • Analyse known fraud cases (including customer reported fraud) to improve fraud detection and to reduce customer reported fraud

Oversee building of new rules based on emerging fraud threats and inputs from the organisations' rules / business requirements (incl. testing of new rules, impact assessment with regards to customer friction and fraud frustration as well as continuous monitoring of rules performance):

  • Oversee rules building based on emerging fraud threats and inputs from Fraud organisations' rules/ Business requirements
  • Oversee that newly designed rules  /  adjusted rules are being tested and an impact assessment is being conducted (before go-live) to assess the impact on fraud frustration and customer friction and to enable business and relevant committees (e.g. Fraud Rules Governance Committee) to take informed decision with regards to rule implementation
  • Ensure continuous monitoring of rules is taking place and that any issues on non-performing rules are flagged instantly and mitigation action is in place
  • Liaise with the Fraud Lab for complex analysis and provide content advice to ensure the outcome of the analysis adequately addresses the risk
  • Liaise with Fraud content experts to ensure a deep understanding of fraud specific threat scenarios
  • Provide input to I and A Data Management and I and A Reporting Team with regards to rule performance reporting

Oversee rules implementation into detection systems and ensure rules are coded correctly and working as intended (incl. liaising with relevant stakeholders if rules are not triggering any alerts):

  • Ensure all built and approved rules are being implemented into relevant detection systems
  • Ensure ad hoc rules are being instantly implemented to relevant detection systems (in emergency cases only without formal organisations' rules approval) to mitigate ad hoc fraud risk (only within very clear boundaries set by the business such as pre-defined FP ratios and minimum fraud voluminal etc.)
  • Ensure 4-eye checks are being conducted within the team to ensure all rules are coded correctly and ensure rules are working as intended (i.e. rule triggers an alert when it should trigger an alert)
  • Liaise with relevant stakeholders (e.g. systems IT, data delivery function, etc.) if this is not the case and define action plan to mitigate this. Also flag to organisations' rules and head of insights and analytics

Maintain an inventory of all rules and oversee inventory to ensure overall set of rules does sufficiently mitigate underlying risks – suggest changes to current rule set to BRCM via rules performance reporting (if required):

  • Develop an inventory of all rules (incl. a detailed description of what the rule is doing and what is the rationale behind each rule)
  • Continuously maintain / update developed rules inventory, incl. documentation and rationalization for changes to rules
  • Ensure that the overall set of rules mitigate underlying risk sufficiently (e.g. fraud detection rate)

Ensure the right capabilities are in place within the I and A rules and model lifecycle management in order to ensure fulfilment of its mandate:

  • Leverage synergies and ensure consistencies between different fraud risk types and reduce key person risks by ensuring team members can cover each other
  • Ensure fraud type specific knowledge exist within the team (dedicated sub-teams per fraud-type)
  • Establish required capabilities within I and A team, such as coding skills for relevant monitoring systems, extensive knowledge of underlying products and fraud scenarios, understanding of business requirements and how they translate into rules design as well as a good analytical understanding to interpret analytical inputs correctly
  • Ensure the team understands the interlinkages between different rules (within a portfolio as well as across portfolios) and the overall rule set as well as implications of potential rule changes for the entire rule set
  • Define training requirements where capability gaps are being identified and develop training strategy

Escalate any concerns with regards to the above to the organisation (via I and A Rules performance reporting or in urgent cases ad hoc) and the head of insights and analytics:

  • Escalate any identified issues for output groups 1 to 4 to the head of insights and analytics and to the organisations' rules (where applicable) – usually within the organisations’ ad hoc if required
  • Propose mitigation actions as well as concrete next steps to get back on track and facilitate alignment on these

Requirements

Qualifications and Experience

  • First Degree with field of study in IT and Computer Sciences
  • Other qualifications, certifications or professional memberships: Coding skills for relevant monitoring systems to implement rules
  • Experience of 7 to 10 years in Risk Management

 

Requirements and Skills

  • Business Acumen
  • Effective Communication
  • Fraud Detection and Management

Kindly note, if you have not heard from us within two weeks of your application please consider it unsuccessful

Position Type

Permanent

Work Level

Senior

Salary

Market Related

Industry

Banking/Finance And Investment

Salary Type

Monthly

Package

Cost To Company

Affirmative Action

No

Geographic Location

Gauteng - JHB North