Company Brand: Lesaka Enterprise Division

Location: Cape Town 

Workplace Type: Onsite 

PURPOSE OF JOB 

The Operational and Fraud Risk Manager supports the design, implementation, and continuous improvement of Operational Risk and Fraud Risk management across the Enterprise Division. 

The role is responsible for day-to-day risk operations, monitoring emerging risks, managing fraud investigations, ensuring effective controls are in place, and driving a strong risk-aware culture within business units. 

Working under the Executive Head of Risk and Fraud, the incumbent ensures timely reporting, operational execution, and stakeholder engagement to safeguard the organisation’s operational stability, financial integrity, and customer trust. 

The Operational and Fraud Risk Manager responsibilities include the following: 

KEY PERFORMANCE AREAS 

1. Strategy Execution and Support 

• Support the implementation of Operational Risk and Fraud Risk strategies aligned to business objectives. 
• Translate strategic plans into operational actions for the Enterprise Division. 
• Provide input into risk policy updates, frameworks, and standards. 
• Coordinate risk-related projects and ensure successful execution. 

2. Risk Identification, Data Analysis and Trend Monitoring 

• Monitor and analyse Operational Risk indicators, fraud trends, and transactional patterns to identify weaknesses, emerging risks and control failures. 
• Conduct analysis on risk events, control failures, and fraud incidents to determine root causes. 
• Recommend preventative and corrective actions to reduce future occurrences. 
• Maintain accurate and up-to-date Operational Risk and Fraud MIS. 

3. Operational Management and Control Execution 

• Act as 1st Line of Defence for business units in identifying, assessing, and mitigating Operational Risks. 
• Maintain and update Operational and Strategic Risk Registers in collaboration with business teams. 
• Conduct business assurance and control testing to validate effectiveness of key controls. 
• Provide Operational Risk subject-matter support during product, process, or channel changes. 
• Facilitate training sessions to embed a risk-aware culture in the business. 
• Proactively escalate risk concerns and track remediation actions to closure. 

Fraud-specific responsibilities: 

• Investigate fraud cases and ensure timely resolution. 
• Identify control breakdowns and recommend improved controls to prevent future fraud. 
• Test enhancements to ensure controls operate effectively. 
• Track fraud metrics against acceptable thresholds and escalate variances. 

4. Team Support, Management and Cross-Functional Collaboration 

• Assist in coordinating operational activities within the Risk and Fraud teams. 
• Work closely with internal and external specialists to test for vulnerabilities. 
• Support collaboration between business teams, IT, and Fraud Operations to prevent duplication of effort. 
• Manage Operational and Fraud Risk teams as is necessary. 

5. Reporting and Communication 

• Prepare Operational Risk and Fraud reports for internal committees and stakeholders. 
• Compile monthly and quarterly MIS for EXCO and Group Operational Risk. 
• Draft internal communications related to fraud trends, learnings, and awareness campaigns. 
• Ensure accuracy, timeliness, and clarity in reporting. 

6. Compliance, Governance and Industry Engagement 

• Ensure Risk and Fraud practices align to regulatory, card-scheme, and sponsorship requirements. 
• Participate in relevant industry forums such as SABRIC, PASA, and issuer engagements. 
• Support audit processes and assist in control testing activities. 

7. Technology, Automation and Process Improvement 

• Work with technology teams to enhance fraud detection, risk monitoring tools, and reporting automation. 
• Review system access controls, investigate anomalies, and recommend improvements. 
• Identify opportunities to automate and streamline processes to improve efficiency and reduce risk. 

8. Business Continuity and Risk Framework Support 

• Assist with Business Impact Assessments (BIAs) for business units. 
• Support the maintenance and testing of the Business Continuity Management Plan. 
• Help embed the Division Risk Appetite and Tolerance statements within business operations. 

EXPERIENCE 

• 5–7 years’ experience in Operational Risk and Fraud Risk Management. 
• Experience within financial services, payments, or fintech is essential. 
• Experience working within Risk frameworks and performing control testing. 
• Competent in terms of conducting investigations, root-cause analysis, and risk reporting. 

QUALIFICATIONS AND SKILLS 

• BCom Degree in Risk Management, Law, Economics, Finance, or related fields. 
• Additional Operational Risk or Fraud certifications advantageous. 
• Strong analytical and problem-solving skills. 
• Ability to translate complex information into actionable insights. 
• Proficiency with risk systems, reporting tools, and data analysis platforms. 

WORK BEHAVIOURS AND ATTRIBUTES 

• Strong organisational and execution capability. 
• Proactive, structured, and analytical thinker. 
• Able to engage stakeholders at all levels and build trust. 
• Good communication (written and verbal) and reporting capability. 
• Collaborative team player with the ability to influence without authority. 
• High level of integrity, attention to detail, and accountability