About the Role
The Group Fraud Risk & Investigations function is part of the group’s Risk Management initiative, providing second line Fraud Risk oversight for the firm’s front office and support/control functions. The Specialist Fraud Investigator will support the VP of Fraud Investigations in fulfilling the function’s objectives related to investigations. This role involves conducting investigations into incidents of actual and suspected fraud, bribery and corruption, data breaches, and other misconduct as per the Fraud Policy. The role holder is responsible for gathering evidence, interviewing suspects and witnesses, evaluating findings, conducting root cause analysis, drawing conclusions, filing necessary regulatory incident reports, making recommendations, and writing detailed investigation reports.
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Key Responsibilities
- Provide guidance and on-the-job training for junior colleagues and facilitate knowledge sharing to achieve team objectives and complete tasks efficiently, consistent with operating procedures and policy.
- Promote the organization’s values and ethics in all activities within the team to support a value-driven culture within the bank.
- Monitor the financial performance of assigned activities versus budgets, ensuring adherence to approved guidelines and reporting variances to management promptly.
- Provide inputs and implement policies, systems, and procedures for the assigned team to ensure compliance with relevant procedural/legislative requirements while delivering quality, cost-effective service.
- Participate in identifying opportunities for continuous improvement and sustainability of systems, processes, and practices, considering global standards, productivity improvements, and cost reductions.
- Prepare sectional statements and reports timely and accurately to meet FGB-NBAD and departmental requirements, policies, and quality standards.
- Assist the VP of Fraud Investigations in executing the Functional Operating Model components of the Fraud Investigations capability.
- Receive cases for investigation and conduct risk assessments to identify immediate loss mitigation and recovery actions needed.
- Follow direction from AVP and VP of Fraud Investigations regarding the investigation plan.
- Ensure immediate escalation of incidents as required per departmental escalation matrix.
- Assess preliminary facts of incidents to determine if they qualify as potential insurance claims with appropriate escalation/reporting.
- Gather necessary information, documents, data, and evidence to establish facts surrounding incidents. Interview suspects and witnesses (including staff) as needed.
- Collaborate and coordinate investigations with other bank functions such as Internal Audit, IT, HR, Legal, and Compliance based on case requirements.
- Assess investigation findings, interpret evidence, conduct root cause analysis, quantify loss or potential financial exposure, and write comprehensive investigation reports with risk mitigation and remedial recommendations.
- Utilize available data analysis and forensic tools and techniques to identify patterns, anomalies, and potential areas of concern.
- Ensure timely filing of CBUAE STR or SAR reports and respond to additional information requests within prescribed timelines.
- Proactively identify and anticipate potential systemic risks and evolving fraud trends to facilitate preventative action.
- Act as a subject matter expert in creating fraud awareness and training materials and participate in delivery as necessary.
- Network with industry peers to exchange intelligence and best practices.
- Stay updated on the latest trends in banking fraud, technology, and investigation techniques.
- Promote a culture of risk awareness across the organization within the team.
- Operate within the framework and boundaries of Group policies and overall organizational governance frameworks.
- Make decisions as per the approved authorization matrix.
Requirements / Qualifications
- Bachelor’s degree in Criminal Justice, Law, Finance, Business, or a related field.
- Minimum of 2 years’ experience in fraud investigations, preferably in the banking sector.
- Basic understanding of banking operations.
- Working knowledge of law and criminal justice procedures.
- Strong analytical, problem-solving, and decision-making skills.
- Good report writing skills.
- Good communication and presentation skills.
