The role is responsible for monitoring fraud in banks, acting as a crucial tool to mitigate risks and protect assets. He/she will detect unusual and suspicious account activity, financial transactions, accounting paperwork, and other financial documents promptly and analyze the data to identify any potential fraudulent activity.
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Responsibilities
- Implementing the SAMA’s CFF detection standards.
- Develop clear guidelines to deal with various fraud alerts including false positives, positive alerts, etc.
- Comply with the Bank’s code-of-conduct within the fraud monitoring process and ensure adherence with the highest standards of ethics.
- Responsible for ensuring the fraud alerts process is cleared in a timely manner 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.
- Provide required reports to the Governance Committee and related stakeholders with the Bank after completion of investigations and timely reporting to SAMA on the results of fraud monitoring and investigations, 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.
- Review potential fraud alerts to protect our customers from fraud while also safeguarding the bank’s assets.
- Document the research conducted to support decisions taken on alerts.
- Perform any other duties assigned by the line manager related to the nature of the work.
- Enforce, incorporate, and comply with all necessary controls and related information security policies, procedures, practices, training, reporting, personal due diligence, and vigilance within departmental/unit activities and operations.
Requirements
- Preferred qualifications: A tertiary-level qualification from an internationally recognized institution.
- Recommended to be a fresh graduate to 3 years of experience in similar domains for Fraud Monitoring.
- If with experience, must have been accountable for completion of assigned tasks and project work, developing a level of competence to carry out work independently.
- Technical competencies: Fraud Monitoring, Project Management, Ethical Culture, Risk Appetite.
- Behavioral competencies: Proactive and self-directed, Excellent communication skills, Integrity, and Agility.
Location
Riyadh, Saudi Arabia
