REPORTING TO : Head of Operational Risk
JOB PURPOSE : To assist and manage the Anti-Fraud activities, various aspects of fraud risk mitigation, data analytics and modeling function for the Bank. This includes all products and services rendered by the Bank.
PRINCIPAL ACCOUNTABILITIES :
- Review and update the existing fraud risk policies and procedures for the Bank while taking into account the market conditions, UAE regulators, internal & external auditors, Basel Committee recommendations and other international and local best practices.
- Develop, review, recommend and implement fraud risk policies and procedures to detect and prevent frauds, illegal or inappropriate activities. This includes; daily review of various reports, transactions and online activities.
- Manage the process for identification, detection, prevention and investigation of all frauds and suspicious activities across the Bank.
- Ensure that fraud risks and controls are included in RCSA and KRIs. Ensure that these are reviewed at least on annual basis.
- Responsible for conducting periodic fraud risk assessment activities throughout the bank to ensure that industry best practices are utilized while assuring compliance with applicable regulations and corporate policies and objectives.
- Responsible for assisting with the development and implementation of new customer authentication, fraud prevention and scam detection models for the Bank various digital web and mobile sites.
- Works with third party service providers to direct and architect the next generation of fraud and scam detection models.
- Directs and implements risk monitoring rules that operate in conjunction with the fraud/scam detection risk system/models. Performs ongoing assessment of risk monitoring rules to evaluate rule effectiveness, identify enhancements to reduce false positives, and improve fraud detection capabilities.
- Manage fraud prevention and detection system implementation and automated solutions.
- Responsible for data analytics – performs analysis of fraud trends and patterns to identify opportunities for process and systemic improvements to optimize risk/return trade offs.
- Prepare regular reports/presentations for the management & various committees such as Executive Management, Fraud Risk committee, Operational Risk Committee, Board Risk Committee as guided by senior management
- Coordinate and/or perform fraud or suspicious event investigations that could result in losses or claims against the Bank.
- Oversee, coordinate and / or assist with the recovery of losses due to fraud, illegal or inappropriate activities.
- Keep informed of current laws, regulations, common practices and trends in the fraud risk areas
- Bachelor Degree in Management / Business Admin or other equivalent degree
- Certified Risk Professional is preferred
10 to 15 years experience in financial industry out of which 7 years in the fraud risk and investigations at the same position.
The role has a preference for a UAE National