Risk and Compliance Associate

Job description

PURPOSE OF JOB:

Support collaboration of service delivery and interlock functions to manage risk in service delivery to an acceptable level. Help increase the level of awareness and compliance with policy and process related matters.

MAIN ACTIVITIES / TASKS:

• The role holder is expected to analyse documentation, screen applicant profiles and investigate credit applications and transactions for suspected fraud, received from Edcon system generated alerts or via stores, RCO's and customers.
• The Risk & Compliance Associate will use various investigation methodologies/systems/processes, to ensure minimization of fraud losses.
• Make a decision on whether to approve or decline fraud on new credit applications and disputed purchases based on investigation and provide feedback to all stakeholders and customers.
• The Risk & Compliance Associate will need to ensure that Debt Review applications are processed within the timelines set out by the National Credit Regulator.
• They are required to work closely with debt counsellors in order to meet SLA's set out by the National Credit Regulator.
• The Risk & Compliance Associate will need to review Debt Review proposals received from debt counsellors and ensure they meet the set criteria, where applications are not within the set criteria, the fraud officer will be required to submit a counter proposal to the debt counsellor.
• Conduct independent investigation into all application and transactional alerts received via the Edcon fraud alerts rules system by scrutinising the application/ customer information for falsified documentation or suspicious information.
• Responsible for the detection and prevention of application fraud by completing a full inhouse investigation.
• Conduct extensive investigation of Disputed Purchases in line with guidelines and procedures to identify legitimate disputed transactions.
• Action alerts by screening application information against the credit bureaux and internal Fraud file database for potential fraud matches.
• Screen application information against the credit bureaux trace functions for potential identification of identity theft through irregular/abnormal enquiry patterns.
• Search for additional suspect links through Edcon's IBase system, if a match is found review the account matched to, payment behaviour and months on book.
• Scrutinise all related documentation for forged and altered information as well as decision making.
• Contact all references linked to account profile to validate legitimacy
• Link syndicate activity to the current or previous fraud cases through the scrutiny and identification of similar fraud application patterns (Modus Operandi)
• Feedback on the investigation should be concluded within required timeframe unless further documentation is requested resulting in the delay.
• Report identified fraud and syndicate activity to Forensic Investigators for further investigation
• Keep an internal record of the confirmed cases for analysis.
• Load confirmed fraud data onto to the Edcon Internal Fraud file database without delay for maximum benefit.
• Record and manage own number of fraud referrals received by transaction/account on a daily basis
• Record the number monetary value of all referrals received and the monitory value of accounts declined based on fraud investigation.
• Manage own investigations and keep record for audit purposes.
• Know and understand the Edcon credit process as well as the principles and policies of credit risk and fraud.
• Submit suggestions to management teams on ways to refine and improve the existing fraud processes.
• Interact with other retailers, banks fraud network of investigators and staff in the verification of retail accounts, bank statements and employment information received during an investigation.
• Be familiar with the layout and security features of other retailers account and banks statements.

Desired profile

Qualifications :

COMPETENCES AND EXPERIENCE:

• Customer Interaction Handling
• Negotiation skills
• Operational Excellence
• Risk Management