Job Purpose:
To monitor and prevent fraud through early fraud detection (application, AML, ATM and issuing & acquiring) resulting in fraud savings for the bank.
Key Responsibilities:
a. Establish policies and procedures for fraud detection, prevention, and response:
i. Monitor industry trends and emerging fraud threats to update strategies accordingly.
b. Team Leadership:
i. Lead, mentor, and develop a team of fraud analysts and authorisers.
ii. Foster a culture of vigilance and proactive fraud management within the team.
iii. Set performance targets and conduct regular performance reviews.
c. Fraud Detection and Prevention:
i. Implement advanced fraud detection systems and tools.
ii. Analyze transaction patterns to identify potential fraud and take appropriate action.
iii. Collaborate with other departments to ensure a coordinated approach to fraud prevention.
d. Compliance and Regulatory Adherence:
i. Ensure all fraud management activities comply with relevant regulatory requirements.
ii. Stay updated on changes in laws and regulations related to fraud management.
iii. Prepare and present reports to regulatory bodies as required.
e. Risk Assessment and Management:
i. Conduct regular risk assessments to identify vulnerabilities within the cards business.
ii. Develop and implement mitigation strategies to address identified risks.
iii. Maintain a robust incident response plan for fraud-related incidents.
f. Data Analysis and Reporting:
i. Utilize data analytics to identify trends, patterns, and anomalies.
ii. Prepare regular reports for senior management on fraud metrics and performance.
iii. Provide insights and recommendations based on data analysis to improve fraud prevention efforts.
g. Customer Interaction and Education:
i. Handle escalated customer complaints related to fraud.
ii. Educate customers on fraud prevention best practices.
iii. Develop communication strategies to keep customers informed about fraud-related matters.
Job Requirements:
- Bachelor’s degree in Finance, Business, Risk Management, or a related field.
- Minimum of 10 years of experience in fraud management, with at least 5 years in a leadership role within the cards business.
- Strong knowledge of fraud detection tools and technologies.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong leadership and team management abilities.
- Ability to work under pressure and handle stressful situations.
- Excellent communication and interpersonal skills.
- Certification in fraud management (e.g., Certified Fraud Examiner) has advantage.
- In-depth understanding of the cards business and associated fraud risks.
- Proficiency in using fraud detection and data analysis tools.
- Strong organizational and project management skills.
- Ability to develop and maintain relationships with internal and external stakeholders.
- High level of integrity and ethical standards.
- Adaptability to rapidly changing fraud landscapes and regulatory environments.
Working Conditions:
- Full-time position with occasional travel for industry conferences and meetings.
- May require working outside of regular business hours in case of urgent fraud incidents
Please note only shortlisted candidates will be notified.
