Head of Fraud Prevention and Investigation

Job description / Role

The Head of Fraud Prevention and Investigation is responsible for leading and managing the fraud risk management program and fraud unit of the Bank. This includes developing, implementing and maintaining the necessary policies, procedures, controls and training required to assist the bank in preventing, monitoring, detecting, investigating and reporting on fraud and misconduct related matters

Role Descrition:
- Develop a fraud risk management program and standards for fraud monitoring, detection, case management, investigating and reporting.
- Take ownership for the execution of the Bank’s -Fraud Risk Management Framework.
- Responsible for the overall coordination of the fraud risk management program (strategy/policy development, strategy/loss analytics, and Investigations, collaboration with Businesses, Operations and Legal/Compliance on execution of strategies/policies).
- Manage, lead and develop the Fraud team.
- Provide subject matter expertise on Fraud Risk Management, drawing on financial intelligence and law enforcement networks, professional qualifications and experience.
- Liaise with other Heads of Fraud at banks so as to exchange views and gain insights into the fraud risk management practice.
- Acting as initial point of contact for law enforcement agencies, internal and external sources, receiving reports of data compromises and fraud related events and ensuring appropriate action taken.
- Work closely with line and business managers to understand the business, identify key issues and promote pertinent solutions.
- Assess the fraud risks faced by the Bank and its subsidiaries through the implementation of a fraud risk assessment and prevention process and ensure that an appropriate action plan is in place to address control weaknesses and mitigate fraud risk.
- Coordinate and lead fraud investigations to ensure appropriate and timely responses to fraud incidents and longer term remediation efforts implemented to reduce likelihood and impact.
- Ensure that significant fraud investigations are concluded internally and externally where relevant.
- Oversee the appointment of external private investigators as appropriate.
- Issue investigation reports, make recommendations and advise senior management on appropriate action to be taken based on the outcome of investigations and investigation report findings.
- Ensure that appropriate fraud management controls (prevention, detection, recovery, deterrence) and monitoring processes are in place for existing products/services.
- Continually monitor the external environment through a variety of internal/ external sources and the media to identify fraud risks which may potentially impact the Bank in the future. Manage the mapping and assessment of those risks, the quantification of the potential impact and escalate to senior management where necessary.
- Monitor fraud trends and the productivity / performance of the fraud unit to optimise fraud analyst and system performance based on appropriate indicators and risk based strategy.
- Ensure that the senior management of the Bank and its subsidiaries and the regulators are provided with assurance that fraud risks are managed in line with the Bank’s fraud risk management program , risk tolerance and regulatory expectations.
- Take a leading role in the selection of systems and tools used for fraud risk management, ensuring that regulatory and bank requirements and standards are met.
- Review and approve (from fraud-risk perspective) all significant new products, new channels, credit changes and other significant high-risk (new/changed) processes (such as activation, PIN processes, card delivery, verification strategies and outsourcing of credit processes) to assess fraud risk.
- Initiate proactive measures/strategies to curb fraud and identify rising trends to execute timely corrective action plan.
- Develop strategies to counter different fraud types and take timely and appropriate response within detection process to mitigate the fraud risk exposure.
- Provide second line oversight of controls put in place in the business areas of the Bank and its subsidiaries that are relevant to fraud and misconduct.
- Manage the escalation of significant fraud and/ or misconduct incidents with the Bank’s stakeholders and external parties as appropriate.
- Maintain acceptable fraud rates considering the risks, rewards, expense and operating environment and cultivate fraud awareness across the bank.
- Report to the relevant authorities where appropriate.
- Accountable for fraud case management data and assurance and for escalating significant issues to senior management.
- Develop efficiencies in establishing contacts with customers when suspicious fraudulent activities are identified through internal controls or detection systems/ methodologies to determine if the activities are fraudulent
- Develop management information on the Fraud Portfolio.

On Card fraud:
- Work with the business and Card Operations, to advise on the appropriate card-related limits, systems, call-backs and other procedures so as to balance customer satisfaction and risk;
- In the event of a major incident, to assist and advise the business and Card Operations on appropriate steps to mitigate the risk / impact on the Bank while maintaining optimal customer usability.

- Report Card fraud incidents as part of regular monthly reporting, analyzing trends and providing industry comparisons with any recommendations to address changing threat environments.
- Initiate and follow up enforcement procedures to apply necessary actions against fraudsters and their associates, in coordination with Legal Department. Apply measures to recover bank’s misappropriates assets, including but not limited engage with and negotiate with insurers, loss adjusters, professional asset tracers and recovery agents
- Exercises the highest levels of sensitivity, confidentiality and discretion in performing duties. Carries out work in accordance with general directives, Bank policies, local and international laws. Work accomplishments are subject to general review by the Chief Risk Officer

Specialist Skills Required for the Job:
- Analytical and Investigation–Excellent Analytical and Investigation skills and attention to detail.
- Project Management - Develops project plans, coordinates projects, communicates changes and progress, completes projects on time and within budget, manages project team activities.
- Communications Skills - Strong verbal and written communication skills.
- Teamwork - Balances team and individual responsibilities, exhibits objectivity and openness to others' views, gives and welcomes feedback, contributes to building a positive team spirit, puts success of team above own interests, supports everyone's efforts to succeed.
- Planning/Organizing and Control- Prioritizes and plans work activities, uses time efficiently.
- Management and People skills – Ability to manage a team, provide guidance and mentoring

Requirements

- Completion of a tertiary qualification from a reputable institution, preferably in Risk Management / Finance/ Accounting/ Law / Management
- Professional / Technical Qualifications / Diplomas: CFE , ACFE , FRM, or other similar qualification
- Minimum of 10 years of senior Fraud risk management/ investigations experience in banking, forensic, intelligence, police or consulting with atleast 5years of which in banking.
- Previous experience in leading and managing fraud units/teams is preferential.
- Experience in interaction with the police and other authorities in fraud matters

About the Company

QNB Group is the biggest bank in Qatar, and a leading financial institution in the Middle East and Africa is hiring.

QNB Group’s presence through its subsidiaries and associate companies now extends to more than 30 countries across 3 continents, providing a comprehensive range of products and services. The total number of staff is more than 28,000 operating from over 1200 locations.

QNB will assist you to take charge of your career with rich and varied opportunities to experience different parts of our global business and develop a valuable portfolio of skills and knowledge.