Senior Officer, Fraud Prevention - Risk Department

United Arab Bank; Sharjah; On-site; AED 60,000 - 120,000; Full time

Job summary

A financial institution in UAE seeks an experienced professional for the Fraud Risk Management role. Responsibilities include implementing fraud prevention strategies, monitoring suspicious activities, and training staff on fraud detection. Candidates should hold a Bachelor's degree and have over 10 years of relevant banking experience. Professional certifications are a plus. This position is essential to maintaining the integrity and security of the bank's operations.

Qualifications

• Bachelor's degree from a recognized institution is required.
• Professional certifications are an advantage.
• 10+ years of experience in Fraud Risk Management is preferred.

Responsibilities

• Implement fraud prevention strategies and policies.
• Analyze and monitor applications for signs of fraud.
• Prepare detailed reports on fraud incidents.
• Utilize data analytics to identify potential threats.

Skills

Fraud prevention strategies

Fraud monitoring

Data analytics

Training staff on fraud detection

Education

Bachelor's degree

CFE, CISA, CISM certifications

Job description

Job Purpose:

• Implement fraud prevention strategies and policies.
• Adequate fraud monitoring to prevent and mitigate incidence of both Internal & External Frauds, with a view to enhance controls.
• Developing an anti-fraud culture by conducting fraud awareness programs.
• Assist in investigations relating to incidences of actual, attempted or suspected fraud, and all instances of major control breaches.
• Prevent, deter, detect and investigate acts of fraud committed against the bank or its customers including internal fraud.

Principal Accountabilities:

• Analyze and monitor applications/ transactions for signs of fraudulent activity and conduct analysis on suspicious transactions and activities.
• Prepare detailed reports on fraud incidents and findings, alongside staying updated with the latest trends and techniques in fraud prevention.
• Review and recommend enhancements to the existing controls to prevent/ detect fraud.
• Utilize data analytics and software tools to identify potential threats.
• Impart training to the bank staff employees on fraud detection and prevention techniques.
• Proactively assists in the oversight of a Fraud Risk Management Program using data extraction, data analytics and management reporting.
• Detect and prevent fraudulent activity based on reports, alerts, or notifications from third parties requesting assistance. Maintain detailed records of fraud cases and investigations through a tracker which is updated periodically.
• Ensure confidentiality of all information collected during the fraud risk management unit (FRMU) analysis.
• Ensure Special Assets Management (SAM), Legal, law enforcement officials and Insurance companies are provided with required information from time-to-time to facilitate faster resolution/recovery of the case.
• Conduct analysis on the routine checks for the external and internal referrals and monitor the implementation of recommendations.
• Conduct sample review of customer applications from sourcing to disbursement for all products.
• Implement and automate current fraud prevention processes.

Job Requirements (Qualification/Experience):

• Bachelor's degree from a recognized institution
• Professional certifications (e.g., CFE, CISA, CISM) are an advantage
• 10+ years of banking experience in Fraud Risk Management
• Understanding concepts of fraud prevention/ detection as part of risk management in banks
• This vacancy will be on a second party contract