Senior Fraud Risk Officer Senior Fraud Risk Officer …

Arab Banking Corporation
in Manama, Capital Governorate, Bahrain
Permanent, Full time
Last application, 13 Feb 20
Competitive
Arab Banking Corporation
in Manama, Capital Governorate, Bahrain
Permanent, Full time
Last application, 13 Feb 20
Competitive
Job Purpose:
  • Enhance the fraud management posture of ILA & Digital Banking as per its strategic objectives (especially on cyber fraud) and in alignment with ABC Group expectations
  • Implement the fraud risk management framework including but not limited to fraud detection/prevention/response and continuous monitoring/reporting
  • Establish a fraud intelligence setup and watch for emergent fraud scenarios with a strong focus on cyber fraud and the rise of emergent technologies and new business models
  • Raise awareness with regards to fraud risks and propose improvements to mitigate fraud losses.

 

Principal Responsibilities, Accountabilities and Deliverables of Role:

A. Leadership

Lead the continuous development and implementation of the framework for the management of Fraud Risk (including Cyber Fraud), across ILA & Digital Banking.

B. Key responsibilities, accountabilities and deliverables

  1. Implement and operate the Fraud Management framework
  2. Lead the development of the key components of the framework for the management of Fraud Risk including but not limited to:
    • Risk and control self-assessment systems (bottom-up, top-down, local/ group-wide);
    • Fraud related incidents and loss events capture and analysis;
    • Key risk indicators;
    • Group-wide control standards;      
    • Standard and “ad hoc” Fraud Risk reports;
    • Appropriate MIS
    • Regulatory compliance (all applicable regulators for ILA & Digital Banking)
  3. Periodic review of Fraud policy deviations and dispensations
  4. Contribute in the elaboration & improvement of anti-fraud rules and models
    • Determine existing fraud trends by analysing accounts and transactions patterns
    • Identify system improvements for an effective fraud prevention posture
  5. Escalate and report control issues with transparency
  6. Generate periodic reporting on:
    • Risk and control self-assessment;
    • Fraud related incidents and loss events capture and analysis;
    • Group-wide control standards;      
  7. Carry out ad hoc requests from senior management, including participation in fraud investigation. 
  • Participate in the development of new products and change management projects (including projects to introduce new technologies) to ensure that the Fraud risks are assessed and mitigated prior to launch/implementation.

C. Culture and Behaviour

  • Raise awareness for Fraud Risk – Training


Job Context (Circumstances & environment surrounding the job):

  • The position of AVP – Fraud Risk Management is a new position. The roles and responsibilities are being established within the Bank.
  • There is a growing concern of not only of regulators, governments (anti-crime units) but also of the general public that banks should improve their defences against fraud especially Cyber fraud.
  • Against this backdrop ABC has decided to further strengthen its Fraud Management setup.

 

Job Requirements:

Knowledge

Extensive knowledge of Fraud Risk Management (including Cyber Fraud)

  • Practical working experience in the area of Fraud Risk Management;
  • Strong knowledge in the area of Fraud Risk Management processes and tools;
  • Broad knowledge of Banking processes (a.o. Retail, Wholesale (Treasury, Trade Finance…);
  • Good understanding of Digital Banks, Open Banks, Fintech
  • Relevant knowledge of industry standards;
  • Strong practical experience with Fraud Risk Management frameworks, tools and methodologies as applied to business processes, business applications, technology infrastructure and third parties
  • Practical knowledge of Fraud Risk Management tooling

Education / Certifications

  • Master degree from a reputable university;
  • Appropriate qualifications/certification (e.g. Certified Fraud Examiner).

Experience

At least 15 years of relevant work experience, with a minimum of 5 years in Fraud Risk Management

Personal Attributes

  • Strong written & verbal communication / presentational skills;
  • Good command of the English language, French and/or Arabic desirable
  • Good time-management skills;
  • Self-motivation and leadership attributes;
  • People management and relationship skills;
  • Good PC skills

 

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