Manager - Fraud Risk Investigation - Risk Management

Manager - Fraud Risk Investigation - Risk Management

D360 Bank Riyadh, Saudi Arabia Posted 2 days ago Permanent Competitive

Job Description The Fraud Investigation Manager is responsible for minimizing losses by monitoring fraud alert transactions through the bank's transaction monitoring system to identify unusual or suspicious account activity (internal & external fraud). Investigate alerts, and manage the bank's response. He/she is responsible for developing policies and procedures to prevent fraud activities and recover any incurred losses, identifying the weaknesses of the current control process, and recommending enhancements. He/she oversees the operations of a fraud detection team to ensure cases of unlawful financial maneuvers are properly handled Responsibilities

• Implementing the SAMA's CFF fraud detection standards.
• Develop clear guidelines to deal with various fraud alerts including false positives, positive alerts, etc
• Responsible for ensuring the fraud alerts process is cleared promptly and alerts are closed via the appropriate System and escalation channel.
• Analyze fraudulent transaction data and fraud alerts to identify, and investigate suspicious activities and take appropriate action.
• Responsible for managing fraud rules/scenarios configured in Fraud Monitoring Fraud Key Risk Indicators (KRIs) to monitor internal and external activities of any fraudulent behavior and unusual transaction patterns.
• Investigate (L1& L2) suspected fraud incidents following investigation standards and take appropriate remedial actions.
• Provide required reports to the Governance Committee, and related stakeholders with the Bank after completion of the investigation and timely reporting to SAMA on the results of fraud monitoring and investigation including corrective actions taken.
• Manage, lead, and oversee the team to ensure the effective fraud monitoring process across various products and departments of the Bank.
• Coordinate with Fraud Risk Assessment and Analytic unit for continuous enhancement of fraud-detecting rules/scenarios

Qualifications Preferred Qualifications

• A tertiary-level qualification from an internationally recognized institution
• Industry-recognized certifications in related fields e.g. Fraud is an advantage

Years & Nature of Experience

• Would have 5 to 7 years of equivalent experience where required competencies and experience have been demonstrated in Finance, Risk, or relevant fields
• A specialist individual contributor or a team lead who has managed and delivered projects
• Has team or technical supervision skills
• Demonstrated expertise and experience with complex technical activities
• Has worked with more senior staff and dealt with complex issues, larger clients, accounts, projects, or internal relationships.

Technical Competencies

• Fraud Investigation
• Testing and Auditing
• Evidence Collection

Behavioural Competencies

• Communication
• Interpersonal skills
• Decision Making

About Us D360 Bank is a shariah-compliant digital bank that aims to provide the best financial experience in the Kingdom. Our Vision: To reinvent finance through innovation & technology making it convenient, accessible & fair to all.

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