Counter Fraud Specialist

We’re seeking a Counter Fraud Specialist to join our Fraud Risk Oversight team (Second Line of Defense). In this role, you will play a key part in establishing, enhancing, and maintaining the company's Fraud Framework in alignment with SAMA’s Counter-Fraud Framework (CFF), ensuring governance, oversight, and compliance maturity across all internal and external fraud risk domains.

You will contribute to developing fraud risk strategies by analyzing data, investigating internal fraud cases, and assessing control effectiveness across the organization. Drawing on your experience in data analysis (SQL) and exposure to fraud operations, you will support continuous improvements to the company's fraud prevention and detection environment.

You will serve as a SAMA-facing subject matter expert, assisting in providing evidence, documentation, and responses to SAMA inquiries and ensuring full alignment with regulatory expectations. Your experience in working with or within Big Four consulting firms on fraud risk management frameworks will be valuable in building a robust and sustainable second-line function.

Your Responsibilities:

• Support the development, implementation, and continuous enhancement of the company's Internal Fraud Framework, ensuring alignment with SAMA’s Counter-Fraud Framework (CFF).
• Analyze fraud and operational data to detect trends and control weaknesses — leveraging SQL and analytical tools to generate actionable insights.
• Investigate internal fraud cases and perform deep-dive analyses into potential internal misconduct, collaborating with relevant stakeholders for resolution.
• Assist in preparing evidence, documentation, and reports required by SAMA or internal governance bodies; serve as a SAMA-facing representative on fraud risk topics when needed.
• Perform fraud risk assessments, control testing, and thematic reviews to evaluate the effectiveness of preventive and detective measures.
• Draft, update, and maintain fraud risk policies and procedures.
• Collaborate with Fraud Operations and other business lines to ensure accurate root cause analysis and remediation of fraud cases.
• Contribute analytical input into the design and calibration of internal fraud detection/prevention and internal controls.
• Monitor fraud and risk alerts daily related to internal fraud and take appropriate oversight actions to ensure operational teams act effectively and timely.
• Identify emerging fraud patterns and work with control owners to implement risk mitigation measures.
• Maintain proper documentation for all investigations, reviews, and control testing performed.

Your Expertise:

• 4–7 years of experience in fraud risk management, internal fraud, or governance, preferably within a regulated financial institution or fintech.
• Experience within or alongside Big Four consulting firms in establishing or assessing internal fraud frameworks aligned with SAMA CFF or similar regulatory standards.
• Technical proficiency in SQL and comfort with analyzing large datasets.
• Strong investigative and analytical skills with hands-on exposure to fraud operations and risk assessment.
• Demonstrated experience in working with regulators (SAMA), preparing documentation, and ensuring full compliance and maturity against regulatory frameworks.
• Strong collaboration and communication skills, with the ability to work cross-functionally and influence stakeholders.
• Educational background in IT, Computer Engineering, Software Engineering, or another technical field preferred.
• High attention to detail, structured thinking, and ability to work independently under minimal supervision.
• Strong business judgment, discretion, and integrity when handling confidential and sensitive matters.