Fraud And AML Manager at Momentum Metropolitan Holdings Limited

Role Purpose    

• An opportunity exists for a dynamic, focused individual to manage the Fraud and AML function. Assist Momentum Money to accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of fraud risk whilst driving fraud mitigation initiatives across the entire business. In addition to that ensure the management of AML risks to ensure an adequate and effective control environment in terms of anti-fraud controls.

Requirements    

• Own key fraud relationship within the business and across the Group
• Honours degree in Finance, Business, Economics and or Risk Management
• CFE qualification
• AML Certification - ACAMS ( advantages
• 8 + years’ experience within the Fraud and Anti-Money laundering or Financial Crime Risk Management
• Substantial knowledge of data analytics and PC based tools i.e Excel (other analytical tools)
• Experience in leading large, complex projects with business wide impact
• Experience in the financial sector (banking experience is an advantage)
• Good working knowledge of technology systems, e-Commerce, Online/Electronic Payments, Accounting/Finance analytical skills with proven ability to identify and develop solutions to improve fraud stabilization, reduction, and avoidance
• Good track record within Compliance, Risk, Finance and/or Regulatory Management
• Good understanding of internal control frameworks as well as internal and or external auditing
• Proven track record of delivering useful and relevant fraud risk information to project teams, business analysts as well as to Exco and board level committee

Duties & Responsibilities    
Fraud Strategy and Fraud Operationalization

• Develop and implement the fraud strategic for the Momentum Money business, defining banking industry leading prevention and detection strategy and policies to support business in managing fraud
• Lead the development of the fraud operating model within the business appropriate for banking environment, working work business in the operationalization of the operating model.
• Oversee the design, development and management of real-time systems and models to combat systematic fraud
• Work with business to assess the current control strength across the Momentum Money business and propose strategies that are aligned to the business ambitions
• Ensure that the fraud strategy deliver fraud results that are aligned to the business fraud risk appetite and business KPI
• Define fraud business cases and projected ROI on investment to identify and prioritize opportunities
• Drive commercial solutions and mature the use of technology that will optimize the business fraud risk management capabilities
• Work closely with Group Forensic Services to ensure commercial approaches to fraud risk is aligned to Group requirements and sufficient to mitigate fraud risk exposure
• Selection of systems / tools used for Fraud Risk Management, ensuring enterprise requirements are met and support fraud strategy, framework and policy.
• Implementing a fraud strategy considering innovation, continuous development and improvement to ensure the maturity of the fraud function
• Drive the operationalization of capabilities for fraud performance, tracking, analysis , reporting and insights.
• Providing appropriate and regular assurance reporting and awareness of new trends in relation to Fraud Risk to all internal stakeholders as well as to Group Risk owners.
• Manage fraud costs in terms of fraud losses and costs on fraud tools / services acquired

Fraud Risk Management

• Develop the Anti-Fraud framework through active collaboration with business and Group Forensic
• Ensuring that Fraud Risk Framework and policies satisfy and exceed all regulatory requirements in relation to Fraud Risk Management.
• Defining Fraud Risk Appetite and ensure alignment to the business and Group Fraud risk appetite
• Developing robust fraud prevention and investigation activities to reduce the threats of employee, contract and client fraud.
• Actively partner with business in identifying and providing fraud requirements when developing and implementing new processes.
• Coordinate appropriate Fraud Investigation activities through agreed structure
• Define the Fraud Investigation Materiality and collaborate with Group Forensic in all investigation done for the business, reporting the investigation results to the business CEO, CRO and other senior leaders of the business
• Identification and implementation of cost-effective fraud deterrent, prevention, detection, response (investigation and remediation), mechanisms and controls.
• Work with the Operational Risk to determine fraud risk landscape and provide longer-term remediation efforts to reduce impact & likelihood of fraud risk and ensure the implementation of relevant controls
• Ensure appropriate and timely initial responses to Fraud incidents / events

3rd Party management

• Own key fraud 3rd party relationship
• Source appropriate 3rd party service providers for the delivery of a fit for purpose fraud capability
• Monitor the adherence of 3rd parties to the contractual obligation set out in the fraud contracts
• Ensuring the accuracy of all fraud invoices prior to the approval by the CRO

Fraud risk culture maturity

• Champion fraud awareness across the business to ensure the maturity of the fraud risk culture within the business
• Partner with Compliance in driving the completion of fraud training aligned to business KPIs
• Own the fraud governance process within the business by chairing the fraud steerco and reporting all fraud risks to the Momentum Money Exco, Combined Assurance Forum and where necessary the entity board.
• Deliver fraud risk management activity to the highest of ethical and professional standards.
• Supporting Whistleblowing and sound ethical culture in support of the Fraud Risk Management framework and Group Fraud Risk Management Policy

Anti-Money Laundering Risk

• Be aware of the legislative requirements relative to Anti-Money Laundering and specifically FICA, POCDATARA and POCA
• Liaison with compliance with regards to the anti-money laundering requirements.
• Ownership of the Risk Management Compliance Programme (RMCP) by being the business custodian
• Be a member of the Enhance Due Diligence (EDD) forum as a SME in anti-money laundering
• Drive Anti-money laundering investigation
• Coordinate and participate all Suspicious Transactions Investigation with Group Forensic Services and all appropriate stakeholders
• Work with CCD team to ensure continuous monitoring of suspicious client behaviour and reporting identified by the operations team.
• Work with the MLCO in ensuring the timeous reporting of suspicious and unusual transactions to the FIC and other investigating authorities
• Assist Compliance with any FICA / Money laundering related projects and implementation thereof
• Liase with the CDD team and Group Forensic Services on various AML related tasks

Stakeholder Engagement

• Building and continually developing close relationships with Business Unit counterparts for Fraud Risk Management.
• Collaborate with Momentum Metropolitan Group Forensic Services, Risk and Compliance to leverage internal insight and capabilities.
• Collaborate with Operations to put an operating model in place to effectively manage fraud.

Competencies    

• Ability to co-ordinate and manage several engagements.
• Strong analytical ability, technical and interpersonal skills.
• Excellent understanding of risk management and governance framework.
• Excellent understanding of risk of money laundering
• Strong personal integrity.
• Excellent written and verbal communication skills.
• Excellent Resilience and Adaptability Skills – deals effectively with pressure, maintains focus and intensity and remains optimistic and persistent.
• Excellent Technical Credibility – understands and appropriately applies procedures requirements, regulations and policies related to Governance and Compliance.

Closing Date    
2023/03/31