Associate Manager Fraud Monitoring

Job description / Role

Job description

The role is responsible to monitor fraud in banks and acts as a crucial tool to mitigate risks and protect assets. He/she will detect unusual and suspicious account activity, financial transactions, accounting paperwork, and other financial documents promptly and analyze the data to identify any potential fraudulent activity.

Responsibilities

• Implement the SAMA's CFF detection standards.
• Develop clear guidelines to deal with various fraud alerts including false positives, positive alerts, etc.
• Comply with the bank's code of conduct within the fraud monitoring process and ensure adherence to the highest standards of ethics.
• Ensure the fraud alerts process is cleared in a timely manner and alerts are closed via the appropriate system and escalation channel.
• Analyze fraudulent transaction data and fraud alerts to identify and investigate suspicious activities and take appropriate action.
• Provide required reports to the governance committee and related stakeholders within the bank after completion of investigation and timely reporting to SAMA on the results of fraud monitoring, investigation including corrective actions taken.
• Manage, lead, and oversee the team to ensure the effective fraud monitoring process across various products and departments of the bank.
• Review potential fraud alerts to protect customers from fraud while also protecting the bank's assets.
• Document the research conducted to support decisions taken on alerts.
• Perform any other duties assigned by the line manager related to the nature of the work.
• Enforce, incorporate, and comply with all necessary controls and related information security policies, procedures, practices, training, reporting, personal due diligence, and vigilance within departmental/unit activities and operations.

Qualifications

Preferred qualifications

• A tertiary-level qualification from an internationally recognized institution.

Years & nature of experience

• Recommended to be fresh graduate to 3 years of experience in the same or a similar domain in fraud monitoring.
• If experienced, would have been accountable for completion of assigned tasks and project work and has developed a level of competence to carry out work independently.

Technical competencies

• Fraud monitoring
• Project management
• Ethical culture
• Risk appetite

Behavioral competencies

• Proactive and self-directed
• Excellent communication skills
• Integrity and agility

About us

D360 Bank is a shariah-compliant digital bank that aims to provide the best financial experience in the Kingdom. Our vision: to reinvent finance through innovation and technology making it convenient, accessible, and fair to all.

About the team

Joining the D360 Bank compliance team opens the door to an extraordinary opportunity. You become an integral member of a vibrant and forward-thinking group, committed to upholding the highest levels of integrity and compliance. We champion ethical behavior and adhere unwaveringly to the rules, regulations, and protocols that govern D360's business operations. At the core of our compliance department, you'll find a remarkable ensemble of dedicated professionals tirelessly working to ensure our bank's unwavering compliance.