VP- Fraud Monitoring

2 months ago

bangalore, India First Abu Dhabi Bank Full time

Job Description

Job Purpose:

The Group Fraud Risk & Investigations function is part of the group’s Risk Management function and provides second line Fraud Risk oversight for the firm’s front office and support / control functions.

The role of the VP Fraud Monitoring entails leading and establishing a team of Fraud alert Analysts operating on a 24*7 basis. The incumbent will be responsible to document and implement appropriate SOP’s and SLAs with various stakeholders. The incumbent is responsible to ensure the effective day to day operations of the alert monitoring team, provide periodic reports and ensure adherence to standards and other predefined requirements in order to timely identify and prevent fraud. The incumbent is responsible to appropriate handling of alerts with aim of minimizing impact to customer experience and business efficiency, identify emerging risks and trends and closely collaborate with departmental peers to develop mitigation measures aimed at reducing fraud and losses while maximizing recovery opportunities.

Key Accountabilities:

Strategic Contribution

Team Supervision (only for Team leaders and supervisors)

Organize and supervise the work of the assigned team to ensure that all work within a specific area of the activity is carried out in an efficient manner, which is consistent with operating procedures and policy. Provide on-the-job training and constructive feedback to assigned team to support their overall development. Promote the organization’s values and ethics in all activities within the team in order to support the establishment of a value drive culture within the bank .

Budgeting and Financial Performance

Monitor the financial performance of a given area of activity versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to management.

Policies, Systems, Processes & Procedures

Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

Continuous Improvement

Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction.

Reporting

Prepare sectional statements and reports timely and accurately to meet FAB and department requirements, policies and quality standards.

Job Context:

Job Specific Accountabilities

Establish a 24*7 fraud alert monitoring capability by documenting and implementing appropriate processes and methodologies to support the Bank’s fraud detection and preventon strategy. Provide input to the development of a comprehensive global fraud alert monitoring framework. Ensure that monitoring standards are adhered to by the analysts and team leaders. Create, develop and ensure that Quality Assurance is executed across samples of alerts from all fraud detection systems. Lead a diverse team of Fraud Monitoring Analysts and their team leads in the day to day execution of the functions tasks. Coach the team of fraud analysts and team leaders on fraud modus operandi by reviewing findings/reports of alerts investigated, reported frauds and define alert action methodology to keep pace with emerging fraud modus operandi. Monitor efficiency and affectiveness of the teamand take appropsiate corrective action if monitoring output deviates from expected outcomes. Conduct rule efficiency analysis and make recommendations to improve the functions performance as well as possible rule and/or system enhancements to improve fraud prevention/detection rates and reduce false positives. Ensure regular measurement of monitoring performance to metrics to demonstrate effectiveness and efficiency of the function in pursuance of the Department’s objectives. Where performance deviates from expectations take necessary corrective action. Actively participate in the planning and execution of complex, sensitive or high risk related fraud monitoring alerts under the guidance of Head Governance and/or Group Head of Fraud Investigations. Ensure adherence to all TAT’s. Support the Project team for POC’s and other adhoc/planned developments involving fraud prevention & detection systems and alert monitoring. Lead collaboration efforts between the team and Bank support functions such as Group Legal, Group HR, IT etc, during the course of fraud monitoring. Provide fraud monitoring support to international operations when required. Participate and provide subject matter expertise input to risk assessments of new products, initiatives and channels when required. Act as subject matter expert and provide input to the creations of fraud awareness and training material as well as participating in the delivery of the material when required. Provide monthly data, statistics and information to the Head of Fraud Governance & Oversight to facilitate production of periodic monitoring submissions into the departments consolidated report. Ensure that analyts adhere to all applicable regulations that the Bank may be subject to. Collaborate with external parties such as Police and Public Prosecution where required. Network with industry peers to share intelligence and best practices. Stay updated with latest trends in banking fraud, technology, monitoring and investigation techniques. Foster a culture of integrity and compliance within the team.

Qualifications

Minimum Qualification

Bachelor’s degree in criminal justice, Law, Finance, Business, or a related field. ACFE certification preferred.

Minimum Experience & Competencies

Minimum of 10 years’ experience in fraud monitoring, preferably in the banking sector. At least 4 years’ leadership experience managing a team of people. In-depth understanding of banking operations. Strong analytical, problem-solving, and decision-making skills. Strong focus on managing a team executing operational activities. Excellent report writing skills. Excellent communication and presentation skills. Ability to travel as needed to bank's global locations.

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