Head, Investigations & Fraud Risk

  • Standard Bank
  • Windhoek, Khomas Region, Namibia
  • May 19, 2020
Full Time Banking

Job Description

Job Details

Risk Management: understanding all risks - from the economic to the political - that could affect our global business, and offering guidance to all parts of the bank

Job Purpose

To provide oversight and leadership in ensuring that all GIFR functions are carried out according to the GIFR mandate and that standards and methodologies are designed and aligned to add value to the Bank.

To support the Regional Head - Group Investigations & Fraud Risk (GIFR)- Southern Central Africa/Africa Regions and the Namibian Head: Risk in mitigating fraud risk in Standard Bank Namibia by providing a key strategic oversight role in the development of policy, the adoption of overall pro-active approach to financial crime control, detection and prevention controls.
To Investigate allegations of financial crime and irregularities within Standard Bank Namibia as directed by the Regional Head - Group Investigations & Fraud Risk (GIFR)- Southern Central Africa/Africa Regions, or the Namibian Head: Risk Complete investigations in accordance with the GIFR standards and methodologies aligned to adding value to the Standard Bank Namibia business, in order to recover losses by securing criminal prosecution and civil action.
Ensure that all administrative input and MIS is accurately updated as well as managing relationships with internal and external stakeholders effectively

Key Responsibilities/Accountabilities

Manage, lead, provide guidance, facilitate and pursue fraud that is committed against Standard Bank Namibia and its Customers.

    • Operate within the Code of Ethics and Values of the Bank.
    • Assist with the development of strategy towards financial crime, combating initiatives within Standard Bank Namibia business portfolio and to align this to the GIFR strategy.
    • Execute GIFR Mandate and Strategy across lines of business, i.e. PBB, CIB and Enabling Functions and thereby reduce financial crime losses and incidents.
    • Adopt a pro-active approach to financial crime control.
    • Manage, lead, collect and analyse relevant information, identify modus operandi of incidents.
    • Provide guidance, probe problem areas by following linkages between suspicious cases and entities.
    • Direct through process of elimination, identify irregularities and involved parties e.g. syndicates.
    • Provide guidance and network within the various areas within the Bank and externally to resolve fraud issues.
    • Ensuring compliance with defined processes, e.g. formulating case dockets, investigation reports, affidavits.
    • Direct investigations in determining the Bank's exposure and to actively recover losses.
    • Proactively determine high risk Business Units and potential internal fraud and operational risks
    • Proactively assist to facilitate the early detection of fraud leveraging on hotlines and tip-offs
    • Execute the Fraud Strategy through investigations, which will be aligned to Business Goals and priorities
    • Provide input and assist in the design and formulation of Banking Industry approaches at industry level e.g. Banking Forums.
    • Network with Law enforcement agencies, auditing, legal and commercial organisations combating financial crime
    • On each confirmed internal financial crime matter establish trends, identify modus operandi and provide remedial recommendations

People Management

    • Assist with the recruitment, development and retention of relevant skills within the IFR division, in order to meet business needs.
    • Assists in ensuring the effective selection of staff within the IFR division, by matching the skills and competencies to the requirements of the job.
    • Develop and maintain an open communication channel with direct reports and support staff to foster teamwork.
    • Individual career management
    • Facilitate the views of the IFR team members, resolve issues raised by the team and escalate issues if required and provide feedback to teams on an ongoing basis.
    • Foster and provide employment equity with specific attention to attaining the Standard Bank Namibia targets.
    • Promote a culture where the values of the Bank are
    • lived” and maintained.
    • Monitor and manage the performance and development of staff within the IFR division in-country. This includes support with performance management as well as mid-year and annual performance appraisals.
    • Foster a culture of continuous improvement and performance measurement.
    • Ensure that the Head: Risk, Namibia is apprised of significant achievements to ensure appropriate recognition
    • Assist in ensuring that clear targets are set and that resources are profiled and recruited accordingly.
    • Assist in the planning and overseeing the implementation of a skills development plan to address skills gaps.
    • Fostering a climate of self-development, learning and personal growth.

Risk and Loss Management

    • Accountable for ensuring the recovery of losses through all available legal remedies.
    • Highlight control deficiencies to the Business stakeholders.
    • Monitor and track implementation of control remediations, and ensure escalation to appropriate levels where these have not been timely implemented.
    • Assess and pursue recovery prospects.
    • Minimise reputational risk by interfacing with relevant parties.
    • Take overall ownership and accountability for allocated cases from the point of allocation until their “formal” conclusion as per the defined processes.
    • Apply knowledge and experience to identify fraud, risk and highlight to management

Process and Case Management

    • Adhere to the proper process of case management from the allocation of investigations, providing constant feedback to ensure that investigation goals and objectives been reached.
    • Attend all relevant Stakeholder meetings.
    • Constantly provide intelligence regarding trends, modus operandi, type of fraud documents, and standard of fraud application, knowledge of the criminal groups / syndicates regarding the verification process, other processes of Standard Bank Namibia that are detected in current investigations on hand.
    • Secure reporting line to relevant Business Heads regarding relevant intelligence gathered through investigations
    • On a regular basis, liaise with Law Enforcement agents to gather information regarding the movement of suspects, new trends, crime threat's and modus operandi that are identified from a global perspective.
    • Providing periodic stats, trends and relevant case information to Management and Business Heads to support and secure processes to minimize and prevent losses.
    • Provide Management with consistent and accurate reports regarding fraud trends, market related information regarding fraudulent activities in the Corporate Environment.
    • Be active in supporting the different business heads, know the different product procedures. Provide constantly information to the different business heads regarding crime patterns and modus operandi. These actions will provide them with the relevant knowledge to take sound business decisions that will assist them in minimizing risk and operational losses.
    • Compiling case dockets for registration with the law enforcement agencies to expedite the tracing and attachment of moveable assets and arrests of suspects.
    • Immediately report incidents discovered through investigations to the relevant business heads and GIFR regarding control deficiencies. Thoroughly investigated deficiencies and provide management with proper knowledge to address and to correct situations

Preferred Qualification and Experience

Bachelor Degree or equivalent in Information Technology, Forensic Accounting, Law, Criminology, Criminal Justice, Audit or related field. Information Technology, IT Security and Cyber Risk related experience will be an added advantage

Should have at least 5 years substantial professional experience. Experience in IT Security, Payments Systems and Card will be an added advantage

Knowledge/Technical Skills/Expertise

Information Technology skillls such such IT security & Cyber Risk
Knowledge of IT systems, risk management, payments systems, card & card processing rules
Investigations skills such as forensic acocunting/auditing