Head Fraud Risk Management

Raqami Islamic Digital Bank; Karachi Division; On-site; PKR 18,000,000 - 32,000,000; Full time

Job summary

Raqami Islamic Digital Bank in Karachi seeks an experienced Head of Fraud Risk Management to lead fraud prevention and detection across all digital channels. You will define the fraud risk strategy, oversee real-time monitoring and response, and embed robust controls into customer journeys to minimize losses.

You will ensure SBP compliance for digital fraud, build and lead the Fraud Risk Management Department, and report to senior management and the Board on KPIs, KRIs, and strategic trends.

Qualifications

• Minimum 15 years in banking/fintech with at least 5 years heading a fraud risk management function.

Responsibilities

• Set fraud risk strategy and risk appetite; own the Digital Fraud Prevention Policy and fraud risk framework for Board approval.
• Head the Fraud Risk Management Department for real-time monitoring, investigations, and analytics.
• Own the Enterprise Fraud Management (EFM) solution across digital channels, with real-time monitoring and risk-based authentication.
• Approve fraud detection rules, risk scores, limits, and blocking policies across accounts, channels and devices.
• Deploy behavioural profiling, device fingerprinting and device binding controls, and report fraudulent devices to PTA.
• Design fraud controls into customer journeys with Digital Products and IT, including limits and NADRA checks.
• Detect and prevent onboarding fraud, account takeover, social engineering, SIM-swap and mule accounts.
• Ensure SBP timelines for FTDH disputes, fund blocking, investigations, and run 24/7 fraud operations.
• Lead major/high-value fraud investigations; coordinate with FIA, NCCIA and LEAs.
• Manage card fraud risk (Visa, Mastercard, PayPak) and chargebacks; oversee fraud program
• Ensure digital fraud reporting and returns to SBP on time.
• Report KPIs and KRIs to senior management; present quarterly summaries to the Board.
• Provide fraud trend content for customer awareness campaigns and staff training.
• Decide customer compensation for fraud losses per SBP rules and delegated authority.
• Manage EFM and device-intelligence vendors; coordinate with Information Security.

Skills

Fraud Strategy & Framework Design

Real-Time Fraud Monitoring & Rule T9n

Digital & Card Fraud Investigations

Card Schemes & Chargebacks

Fraud Data Analytics & Machine9ne (ML

Device & Behavioural Analytics

FTDH & Dispute Management

Digital Payments & RAAST

SBP Digital Fraud Regulations &9port

Customer Journey Control Design

Board & Regulator Engagement

Leadership & People Development

Decisiveness Under Pressure

Integrity & Independence

Education

Master's degree in Business Administration, Finance, IT, Computer Science or Data Science

Certified Fraud Examiner (CFE) preferred; CAMS, CISA or CRISC will be an added advantage

Exposure to Islamic banking will be an added advantage

Tools

BPC SmartVista

FICO Falcon

Clari5

NICE Actimize

Feedzai

Job description

Job Title: Head Fraud Risk Management
Department: Compliance

Job Overview

We are seeking an experienced and decisive Head Fraud Risk Management to lead the Bank's fraud prevention and detection across all digital channels. The role will set the Bank's fraud risk strategy, run real-time fraud detection and response, and design fraud controls into customer journeys. It will also ensure full compliance with SBP's digital fraud prevention requirements, so that Raqami grows as a trusted digital Islamic bank with minimal fraud losses.

Key Responsibilities

• Set the Bank's fraud risk strategy and risk appetite, and own the Digital Fraud Prevention Policy and fraud risk framework for Board approval.
• Build and head the Fraud Risk Management Department, covering real-time monitoring, investigations, and fraud analytics and strategy.
• Own the Enterprise Fraud Management (EFM) solution, providing real-time monitoring of the mobile app, RAAST, IBFT, cards and wallets, with risk-based step-up authentication and automatic suspension.
• Approve fraud detection rules, risk scores, limits, and the Bank's account, channel and device blocking policy.
• Deploy behavioural profiling, device fingerprinting and device binding controls, and block and report fraudulent devices to PTA.
• Design fraud controls into customer journeys with Digital Products and IT, including limits, cooling-off periods, beneficiary and device-change controls, and NADRA biometric checks.
• Detect and prevent onboarding fraud, account takeover, social engineering, SIM-swap and mule accounts.
• Ensure FTDH disputes, fund blocking, investigations and reversals are completed within SBP timelines, and run 24/7 fraud operations, including instant channel blocking for customers.
• Personally handle major and high-value fraud cases, lead investigations and root-cause analysis, and coordinate with FIA, NCCIA and other LEAs.
• Manage card fraud risk, including Visa, Mastercard and PayPak scheme fraud programs and chargebacks.
• Ensure digital fraud reporting and other fraud-related returns to SBP within prescribed timelines.
• Report fraud KPIs and KRIs to senior management, quarterly fraud summaries to the Board Risk Committee, and an annual fraud review to the Board.
• Supply content on fraud trends and safety messages for customer awareness campaigns, and deliver fraud training for staff and contact centre agents.
• Decide customer compensation for fraud losses in line with SBP's liability framework and delegated authority.
• Manage the fraud function's budget, EFM and device-intelligence vendors, and coordinate with Information Security on cyber-enabled fraud.

Experience Required

• Minimum 15 years of relevant experience in banking or fintech, with at least 5 years heading a fraud risk management function.
• Must have hands-on experience in card fraud prevention, detection and investigation (issuing and acquiring), including scheme fraud programs and chargebacks.
• Strong experience in real-time fraud monitoring and EFM rule design, digital channel fraud, FTDH dispute handling, and SBP fraud reporting and inspections.
• Proven track record of presenting to Board committees and implementing fraud systems.
• Experience at a digital bank, EMI or fintech will be a strong advantage.
• Hands-on experience with tools such as BPC SmartVista, FICO Falcon, Clari5, NICE Actimize or Feedzai will be an added advantage.

Educational Background Required

• Master's degree in Business Administration, Finance, IT, Computer Science or Data Science.
• Certified Fraud Examiner (CFE) preferred; CAMS, CISA or CRISC will be an added advantage.
• Exposure to Islamic banking will be an added advantage.

Skills & Competencies

• Fraud Strategy & Framework Design
• Real-Time Fraud Monitoring & Rule Tuning
• Digital & Card Fraud Investigations
• Card Schemes & Chargebacks
• Fraud Data Analytics & Machine Learning Models
• Device & Behavioural Analytics
• FTDH & Dispute Management
• Digital Payments & RAAST
• SBP Digital Fraud Regulations & Reporting
• Customer Journey Control Design
• Board & Regulator Engagement
• Leadership & People Development
• Decisiveness Under Pressure
• Integrity & Independence

Raqami Bank is an equal opportunity employer. We welcome applications from all qualified individuals, including Persons with Disabilities (PWDs), and are committed to fostering an inclusive workplace where everyone has the opportunity to succeed.

Last date to apply: November 16, 2026