Fraud Risk Management Governance and Reporting:
Develop and implement an operational model and the strategic objectives of the FRMD..
Design and implement the Fraud Risk strategy for all channels and products across the Group.
Ensure that FRMD policies, procedures, processes, and strategies are reviewed, aligned with
regulators’ requirements & best practices, and kept up-to-date at all times.
Manage fraud risk, assisting businesses with implementing the practical tools & processes to
minimize fraud losses while maintaining and adhering to goals and objectives.
Ensure the Fraud Risk Management framework is effectively embedded and communicated
across the Business Units and Support Functions.
Develop a proactive, independent, balanced, and fraud risk awareness culture within the
Create and maintain fraud risk register and database of fraud incidents.
Design the FRMD MIS (reports and dashboards), gather data, and present them to the Line
Manager, executive management, and board committees.
Conduct data analysis to identify new trends & patterns
Identify industry best fraud risk infrastructure and management practices and assess the
benefits of their adoption to the Group.
Ensure that gross and residual fraud risks are understood and agreed upon with the respective
Business and Support Heads.
Lead and drive standardization, automation, and consolidation through re-engineering and
process improvement initiatives in the fraud-related processes across the Group. Develop and
maintain FRMD capabilities, skills, and infrastructure in compliance with internal and external
Act quickly and decisively when any fraud risk and control weakness become apparent and
ensure they are addressed within an appropriate timeframe and escalated through the
Align the fraud risk management framework with the Operational Risk Framework and
monitor the fraud risk metrics to identify potential control weaknesses.
Identify the KPIS of the FRMD.
Support the identification, engagement, and retention of high-quality FRM professionals.
Set and monitor job descriptions and objectives for direct reports and provide feedback and
rewards in line with their performance against those responsibilities and goals.
Develop a collaborative relationship with regulators, peer banks, and fraud risk industry
forums to help prevent, detect, and mitigate fraud.
Ensure that Fraud Response Plans for all types of fraud schemes the Group could inherently
be exposed articulated, documented, and communicated to all the relevant stakeholders.
Study the process control environment across the Group and identify areas for improvement
to reduce the level of fraud risk exposure within the agreed appetite across the Group
Accountable for satisfactory closure of issues/gaps arising from Internal Audits and the CBB’s
findings related to FRMD.
Ensure compliance to Visa/ master card rules and regulations
Manage and support FRMD projects
Ensure a proactive approach to fraud risk identification and mitigation activities, provide
timely communication/escalation of monitoring results, and oversee its successful execution
Conducts ongoing analysis to identify the root cause of fraud trends, propose potential
solutions, and liaise with stakeholders to implement the solutions.
Assist in the development of an internal fraud detection and prevention program inclusive of
(I) development of NBB-specific fraud risk assessments, (ii) development and implementation
of fraud-specific data analytic procedures
Fraud Risk Prevention:
Perform pro-active fraud vulnerability risk assessment across the Group
Conduct periodic review of customer complaints to detect potential fraud risks
Conduct periodic training and awareness programs related to fraud risk management and
reporting of frauds
Define guidelines for performing mystery shopping exercises and field visits.
Fraud Risk Detection:
Monitor, guide and lead the Cards (Debit and Credit) Fraud monitoring team.
Responsible for the enterprise-level, fraud transactions monitoring system, covering all
business, products or channels Enhance the use of technology enablers such as data
analytics for analyzing transactions / identifying trends & patterns required for a
Responsible for the Fraud Transitions monitoring system in terms of the design of the
parameters, monitoring of channels and products across the Group, leading and guiding
the FRMD staff who will operate this system.
QUALIFICATIONS AND EXPERIENCE
Bachelor’s degree in Finance, Accounting, Commerce, or in any other subject or equivalent is
Master’s degree in Accounting/ Finance /Economics or in any other subject is preferred
Professional qualification related to banking, or function is preferred such as CA, CFE, CFA,
Years & Nature of
Minimum 5-6 years of practical experience in a bank with 3 years in the same or similar function.
SKILLS AND COMPETENCIES
In-depth/expert knowledge of regulatory requirements.
In-depth/expert knowledge & experience with fraud risk policy frameworks.
A seasoned professional with a combination of education, experience, and industry knowledge.
Verbal & written communication skills – In-depth / Expert.
Collaboration & team skills; with a focus on cross-group collaboration 2+ years of managerial experience.
Ability to create MIS and analysis material on which they will base strategic fraud detection and deterrence
KEY PERFORMANCE INDICATOR
Vulnerability assessments, rectifications, and closure
Early warning indicators and their remediation
Efficient and effective investigations
Responsible for the design and documentation of investigation methodology and procedures.
Responsible and the leader of all fraud investigation of all types of frauds: fraud committed by
employees, clients, or external parties.