Officer - Application Fraud

Role: Officer - Application Fraud

Location: Sharjah

Role Purpose:

• This is a fraud risk management role directly responsible for developing a center of excellence for Fraud Risk Management (FRM) by fostering the culture of FRM across ADIB Group.
• To detect control and minimize fraud incidents and fraud risks.
• To perform efficient fraud risk control job tasks and ensure adherence to approved policies and procedure.
• To provide prompt efficient and accurate services to customers and cross-functional teams while maintaining agreed service levels.
• To efficiently control fraud risks pertaining to the acquisition of all products and customers.

Key accountabilities of the role:

• Detect application fraud by conducting application sampling on new acquisitions of all products.
• Conduct Fraud verifications & preliminary Investigations of incidents as per approved processes to ensure timely detection and recovery of fraud incidents and losses.
• Review impairment reports and identify potential application/documentary & syndicate frauds.
• Strengthen fraud risk controls of the 1st and 2nd line of defense by highlighting findings based on the reviews & preliminary investigations.
• Conduct sample checking and monitoring of contact point verification process conducted by internal staff & external vendors/agencies.
• Preparation and analysis of Fraud Risk Management MIS for timely identification and corrective action on areas of risk as evident from periodic MIS.
• Improved service delivery and satisfaction of customers and business partners by adherence to turnaround times on processes fraud control and other activities without compromising on risk.
• Exercise Due diligence while handling transactions/ queries / customer applications and instructions. Proactively identifying risk / fraudulent transactions and escalating the same as appropriate.
• Work closely with the UAE fraud forum to understand the pulse of the market from a risk perspective and the emerging fraud risks.
• Monitor real-time queues and identify high risk transactions within the business portfolio of eChannels.
• Close monitoring of various degrees of Alerts for mobile banking internet banking ATMs Swift transfers & other electronic financial banking transactions.

Risk and Control Governance:

• Conduct mystery shopping and seeding activities to detect fraud incidences and identify weak processes & vendors.
• Detect fraud incidents assess control standards by conducting sampling of records of various processes across functions sourcing channels and products.
• Operational & Fraud Risk Management Center of Expertise:
• Provide guidance and support to ORM stakeholders with respect to fraud risk management programs and assessments carried out.
• Acts as a Center of Excellence for education and advocacy of information on ADIB Groups Fraud risk management practices and programs to foster sound FRM in ADIB Group leading to embedding a fraud risk mind-set in the business.

Other Tasks:

• Carry out other tasks as and when required in consultation with the Head of Fraud Risk Management.

Specialist skills / technical knowledge technical competencies required for this role:

• Fraud investigation and analysis skills.
• Fraud risk control awareness and competency.
• Knowledge of retail banking products and channels.
• Expertise and knowledge on market fraud trends.
• Working knowledge of leading operational risk practices and regulatory requirements.
• Demonstrated ability to collaborate with Senior Management-level professionals.
• Strong problem solving analytical (including qualitative analysis) research and quantitative skills
• Computer skills (e.g. Microsoft Office Suite)

Previous experience:

• 3 or more years of experience in verification risk control and risk prevention function.