Senior Manager Fraud Risk at Equity Bank Kenya

Job Purpose:

Responsible for developing, implementing, and overseeing Equity Bank Kenya Limited’s fraud risk management framework. The Senior Manager will ensure the framework effectively identifies, assesses, prevents, detects, and responds to fraud risks, minimizing potential financial losses and reputational damage. This role requires deep expertise in fraud risk management methodologies, investigative techniques, data analytics, and regulatory requirements.

Key Responsibilities 

• Framework Development & Maintenance: Design, implement, and maintain a comprehensive fraud management procedure, methodologies, risk appetite statements, and key risk indicators (KRIs). Ensure alignment with industry best practices and regulatory expectations.
• Fraud Risk Assessment: Lead the identification and assessment of fraud risks across all business units and functions, considering various fraud schemes, vulnerabilities, and potential impact. Facilitate fraud, risk assessments and gap analyses.
• Fraud Prevention & Detection: Develop and implement effective fraud prevention and detection controls, leveraging data analytics, technology solutions, and behavioral indicators. Implement fraud awareness training programs for employees.
• Fraud Monitoring & Reporting: Develop and implement a robust fraud monitoring and reporting framework, providing regular updates to senior management and the board risk committee on key risk exposures, emerging fraud trends, investigation results, and control effectiveness. Monitor KRIs and escalate potential issues.
• Loss Recovery: Develop and implement strategies for recovering losses resulting from fraud incidents.
• Regulatory Compliance: Stay informed about and ensure compliance with relevant regulations and supervisory guidance related to fraud risk management (e.g., anti-money laundering (AML) regulations, relevant industry regulations).
• Collaboration & Communication: Collaborate effectively with various departments, including legal, compliance, internal audit, IT, and business units, to foster a strong fraud risk culture across the organization. Communicate fraud risk policies and procedures effectively to stakeholders.
•  Team Leadership & Mentorship: Lead, mentor, and develop a team of fraud risk professionals, fostering a culture of continuous learning and high performance.
• Technology & Innovation: Identify and evaluate new technologies and tools to enhance fraud risk management processes and improve efficiency, including fraud detection systems and data analytics platforms.

Qualifications

Qualifications And Experience

• Bachelor’s degree in business administration, Finance, Criminal Justice, or a related field. A master’s degree or relevant professional certifications (e.g., CFE, ACAMS) are preferred.
• Minimum of 5-8 years of progressive experience in fraud risk management, preferably in the financial services industry.
• Deep understanding of fraud risk management principles, methodologies, and best practices.
• Experience in developing and implementing fraud risk frameworks and policies.
• Strong analytical, problem-solving, and investigative skills.
• Knowledge of relevant regulatory requirements and compliance standards, including AML regulations.
• Excellent communication, interpersonal, and presentation skills.
• Demonstrated leadership and team management abilities.
• Proficiency in Microsoft Office Suite, particularly Excel. Experience with fraud detection systems and data analytics platforms is a plus.

Key Competencies & Skills

• Quantitative Analysis & Modeling
• Market & Liquidity Risk Expertise
• Regulatory Awareness
• Problem Solving & Decision Making
• Communication & Presentation
• Leadership & Teamwork
• Strategic Thinking