JOB DESCRIPTION / ROLE
JOB PURPOSE
The purpose of this job is to establish an enterprise fraud governance and control framework for the bank including the testing of existing fraud controls.
Principal Accountabilities
- Develop an enterprise fraud risk controls framework, fraud risk assessment standards, RCSA and KRI working in conjunction with the Head of Fraud Risk Management
- Knowledge of banking products, operations and systems
- Risk assess business and operations activity to identify fraud risks and implement mitigating controls
- Assess the design and effectiveness of the banks fraud prevention program
- Provide the required support and guidance to the business to embed and implement fraud policy requirements and control measures within their business areas
- On a risk based approach undertake fraud risk control assessment to test the effectiveness of existing controls
- Develop fraud detection rule strategy to be implemented in the fraud detection system
- Analyze rule performance on an ongoing basis and manage the exercise to fine tune rules on an ongoing basis to improve detection rates
- Assess risks associated with launch of new products and services to ensure appropriate controls are there in place to mitigate fraud risks
- Understand business strategy and fraud risk priorities and work closely with the business units to implement best practice guidelines and controls to enable proactive detection and prevention of fraud
- Plan and undertake annual fraud risk assessment partnering with audit, operational risk and other control functions as applicable
- Prepare management dashboard for Operational Risk Committee meetings and periodic reporting to management
- Provide oversight on the monthly fraud cases investigated
- Review investigations reports prepared by the investigators to ensure the reports are clear and concise
- Maintain internal blacklist of confirmed fraud cases
- Develop content for fraud awareness training and campaigns
- Manage the roll-out and completion of fraud awareness training program across the bank
- Prepare monthly fraud reports for Head of Fraud Risk and Head of Operational Risk
- Support the Head of Fraud Risk to track, manage and minimize fraud losses across all products, segments and service lines
- Develop and maintain strong working relationship with internal stakeholders and act as a point of contact for subject matter expertise on topics related to fraud prevention
REQUIREMENTS
Requirements
QUALIFICATIONS
- A Bachelor's Degree, MBA or Master's degree in business accounting or legal
- Certified Fraud Examiner- Preferably
EXPERIENCE
- 10+years of experience in a fraud governance and control role within the banking industry or big 4 consulting firm as Manager.
- Experience in developing and enhancing fraud prevention programs
- Sound knowledge of undertaking fraud risk assessment, developing and implementing control frameworks and best practice guidelines.
- Experience interacting with functional heads, internal control, audit and senior management within the bank
SKILLS
- Excellent verbal and written communication skills
- Strategy development
- Leadership skills
- Strong partnering skills across functions
- High emotional intelligence and interpersonal skills
- Ability to acquire, build and inspire a high performance team
- Advanced knowledge of SQL and Structured Coding
- Working knowledge of credit card, core banking and customer facing channel
- Risk assessment of new products, digital channels and services
COMPETENCIES
- Strategy development
- Cross functional team work
- Analytical thinking and problem solving
- Project and change management
- Capability development and team building
- Result oriented and execution skills
ABOUT THE COMPANY
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.
