Role Purpose

The Fraud & Operational Risk Manager is responsible for executing and strengthening first-line fraud and operational risk management across the bank/fintech. The role focuses on fraud risk identification, monitoring, analytics, investigations, remediation, and control enhancement across products, channels, systems, and customer journeys.

This position plays a critical role in protecting the organisation against fraud, financial crime, and operational losses while supporting regulatory compliance, business growth, and customer trust.

Key Responsibilities

Fraud Risk & Operational Risk Management (First Line)

• Identify, assess, and manage fraud and operational risk exposures across products, channels, systems, and processes.
• Maintain and enhance fraud risk assessments, risk and control matrices (RCMs), and fraud risk registers.
• Design, implement, and monitor preventive and detective fraud controls aligned to the organisation’s risk appetite.
• Act as a first-line risk partner to business, product, technology, and operations teams.

Fraud Monitoring & Detection

• Develop, manage, and optimise transaction monitoring rules, alerts, and fraud detection logic across core banking and digital platforms.
• Analyse fraud trends, typologies, root causes, and emerging risks.
• Review fraud alerts and support escalation, containment, and decision-making processes.

Data Analytics & Technology Enablement

• Use data analytics to identify anomalies, patterns, and fraud indicators.
• Write and optimise queries using SQL and support analytics using Python and/or Java.
• Contribute to the development and enhancement of AI and machine learning–based fraud models (rules-based, supervised and unsupervised).
• Partner with technology teams to enhance core banking systems, fraud engines, and monitoring platforms.

Investigations & Case Management

• Conduct and support fraud investigations, including transactional analysis, evidence gathering, and root cause analysis.
• Prepare investigation reports, loss assessments, and management summaries.
• Support recovery actions, internal disciplinary processes, and referrals to law enforcement where required.

Remediation & Control Enhancement

• Drive remediation actions following fraud incidents, control failures, audits, or regulatory reviews.
• Recommend and implement control improvements, system enhancements, and process changes.
• Track remediation actions to closure and report on effectiveness.

Compliance & Financial Crime

• Support compliance with FICA, AML/CFT, fraud, and financial crime regulatory requirements.
• Assist with regulatory engagements, audits, and assurance reviews related to fraud and operational risk.
• Ensure fraud risk frameworks align with regulatory expectations and internal policies.

Reporting & Stakeholder Engagement

• Produce regular fraud risk, losses, trends, and KPI reporting for senior management and governance forums.
• Present insights, findings, and recommendations to stakeholders across risk, compliance, operations, and technology.
• Contribute to fraud risk strategy, policies, standards, and procedures.

Key Competencies & Skills

Technical & Analytical Skills (preferred)

• Strong fraud risk and operational risk management capability.
• Advanced data analysis and problem-solving skills.
• Proficiency in:
• SQL (required)
• Python
• Google Cloud Console
• Looker Studio
• PowerBi
• Azure
• Experience working with AI and Machine Learning concepts for fraud detection (model development, tuning, validation, or implementation).
• Strong understanding of transaction monitoring systems, fraud engines, and core banking platforms.

Risk & Fraud Expertise

• Deep understanding of fraud typologies (card fraud, digital fraud, account takeover, internal fraud, payments fraud, etc.).
• Experience designing and maintaining risk and control matrices (RCMs).
• Knowledge of banking and fintech operating models, products, and payment ecosystems.

Behavioural & Professional Skills

• Strong investigative mindset with high attention to detail.
• Ability to translate data and technical findings into clear business insights.
• Excellent stakeholder engagement and communication skills.
• Strong ownership, accountability, and ability to work independently.
• Ability to operate in fast-paced, agile, and evolving environments.

Qualifications & Experience

Minimum Requirements

• Bachelor’s degree in finance, Risk Management, Accounting, Information Systems, or a related field.
• 3–5 years’ experience in fraud risk management, operational risk, financial crime, within a bank or fintech.
• Hands-on experience with operational risk, fraud monitoring, investigations, analytics, and remediation interventions.

Advantageous

• Postgraduate qualification or professional certification in Risk, Fraud, or AML.
• Experience with fintech platforms, digital banking, or payments.
• Exposure to regulatory engagements, audits, or assurance reviews.
• Experience implementing or enhancing AI/ML-driven fraud solutions.

Key Performance Indicators (KPIs)

• Reduction in fraud losses and repeat incidents.
• Effectiveness of fraud detection and monitoring controls.
• Timely closure of investigations and remediation actions.
• Quality of fraud risk assessments, RCMs, and reporting.
• Stakeholder satisfaction and audit/regulatory outcomes.