Manager- Fraud Monitoring
4 days ago
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 Bank’s front office and support / control functions.
FAB is committed to fight financial crime and prevent onboarding of fraudsters and restrict extending credit facilities to customers who are known fraudsters and/or have high risk of being a fraudster.
The incumbent is responsible to ensure the effective review of alerts assigned to his/her queue, including preparation of diary notes and have ability to analyze the fraudulent pattern/behavior while making decisions, besides supervising the work of analysts in his/her team. Aid the VP Fraud Monitoring in providing periodic reports and ensure adherence to standards and other predefined requirements in order to timely identify and prevent fraud. Responsible to appropriately handle alerts attended to by the team 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.
Key Accountabilities:
Review and conclude alerts generated in the fraud prevention system to identify fraud and mitigate the risk, as per agreed TAT. Collaborate with different departments within FAB to obtain data that assists in investigation of fraud. Document the research conducted to support the decision taken on alert closure. Expected to complete the agreed alert finalization per day, as well as be measured on decision accuracy, and ensure the reporting analysts do the same. Ability to handle alert reviews for all fraud monitoring systems used by the Bank. Identification of new fraud typologies and risk on the basis of emerging trends. Proactively, suggest or amend rules or changes in the detection/prevention process. Actively participate in the planning and execution of complex, sensitive or high-risk related fraud monitoring alerts under the guidance of VP Fraud Monitoring and/or Head Governance and/or Group Head of Fraud Risk & Investigations. Work with VP Fraud Monitoring to monitor efficiency and effectiveness of the team and take appropriate 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. Work with the VP Fraud Monitoring to provide input to the development of a comprehensive global fraud alert monitoring framework. Provide inputs to create, develop and ensure that Quality Assurance is executed across samples of alerts from all fraud detection systems. Work with VP Fraud Monitoring in supporting the Project team for POC’s and other ad hoc/planned developments involving fraud prevention & detection systems and alert monitoring. Collaborate with Bank’s business teams and support functions such as Group Legal, Group HR, IT etc., during the course of fraud monitoring. Provide assistance for 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. 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. Adhere to and 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 5 years’ experience in fraud monitoring, preferably in the banking sector. In-depth understanding of banking operations. Strong analytical, problem-solving, and decision-making skills. Excellent report writing skills. Excellent communication and presentation skills. Ability to travel as needed to bank's global locations and ability to work in shifts including night shifts.-
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