Fraud Consultant

Company : Paytech Nexus Ltd

Job Description - Fraud Consultant

About the job Fraud Consultant

JOB TITLE: Fraud Consultant

TERM: 12 months

CLIENT LOCATION: SNB Jeddah head office, Al-Baghdadiyah Al-Gharbiyah, Jeddah 22233, Saudi Arabia

RELEVANT EXPERIENCE: 10-12 years of experience in fraud

MANDATORY REQUIREMENTS: Worked in a bank and has a good understanding of fraud systems. Refer to knowledge and skills section of the JD

PURPOSE OF JOB:

Fraud Consultant

TASKS

Core Responsibilities and Accountabilities

Provide analytics support to optimize fraud rates while keeping authorization rates at a satisfactory level
Be the interface between Mastercard and client fraud team and setup governance
Ensure fraud rule tracking and enhancing to improve False Positive and Account Detection rates
Assess fraud alerts
Improve fraud reporting to enhance Decision Intelligence capabilities
Enhance fraud reporting to fraud and loss database (FLD) to enhance NFS capabilities
Enhance fraud management reports
Understanding of SNB fraud monitoring systems to identify suspicious patterns in transactions and accounts.
Recognize transactions that have been compromised at different parts of the transaction lifecycle.
Recognize fraud patterns such as counterfeit, lost and stolen, manipulation of cardholders, relay, and BIN attacks.
Identify 3 types of fraud detection: rules-based fraud detection; profile-based fraud detection; AI based fraud detection.
Identify best practices when responding to suspected fraud.
Monitor and work the approved alerts and follow up open respective cases.
Communicate with FMaS team to tag alerted txns (ESS or Issuer's rules) with unreported fraud data/unworked alerts
Uploading updated white and blacklists on case management system
Maintain accurate fraud case records, track financial impact, and correctly document findings.
Describe Mastercard fraud reporting requirements.
Categorize fraud types reported to the Fraud and Loss Database.
Apply the criteria for fraud case prioritization.
Support in minimizing transactional fraud losses by effective transaction monitoring global practices abiding the policies and procedures of Fraud monitoring Unit
Assist in implementing effective Fraud Risk Management Framework
Ensure effective on job skill transfer and share knowledge of monitoring systems to the respective team
Periodic catch up, feedback and training to the team on latest fraud trends
Monitor approval rates and decline rates, analyze decline rates to improve auth rates
Provide MIS to management with respect to portfolio wide fraud detection performance & reporting

Knowledge and Experience

10-12 years of experience in Fraud

SKILLS

Good understanding of Falcon system
Good understanding of Mastercard NFS
Good understanding of Mastercard DSA solution
Good understanding of Group IB
Ability to develop and implement Fraud rules while ensuring positive business performance and minimal false-positive rates
Worked in a bank and has a good understanding of fraud systems.

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Fraud Consultant

Job Description - Fraud Consultant

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