Head - Prevention - Fraud Risk

Head of Fraud Risk Management

The role of a Head of Fraud Risk Management in a banking institution is pivotal in safeguarding the organization against fraudulent activities. This executive position entails the development and implementation of comprehensive strategies to detect, prevent, and respond to fraud, ensuring the bank's assets and reputation remain protected.

Key Responsibilities:

Strategic Leadership:

- Develop and oversee the bank's fraud risk management framework, aligning it with global standards and regulatory requirements.

- Lead cross-functional teams specializing in areas such as application fraud, transaction monitoring, payment fraud, and investigations .

Fraud Detection and Prevention:

- Implement and continuously refine fraud detection systems and rules to adapt to emerging threats.

- Monitor transactions across various channels to identify and mitigate potential fraudulent activities .

Risk Assessment and Analysis:

- Conduct regular fraud risk assessments to identify vulnerabilities within banking operations.

- Analyze fraud trends and patterns to inform policy and procedural adjustments .

Regulatory Compliance and Reporting:

- Ensure adherence to local and international anti-fraud regulations, including AML and KYC requirements.

- Prepare and present reports on fraud incidents and risk assessments to senior management and regulatory bodies .

Team Development and Collaboration

- Recruit, train, and mentor fraud risk professionals to build a high-performing team.

- Foster collaboration across departments to promote a culture of fraud awareness and prevention .

Qualifications and Experience:

- Educational Background: Bachelors or Masters degree in Finance, Risk Management, Business Administration, or a related field.

- Professional Experience: Minimum of 10 years in fraud risk management within the banking sector, with at least 5 years in a leadership role.

- Certifications: Professional certifications such as Certified Fraud Examiner (CFE), Certified Anti-Money Laundering Specialist (CAMS), or similar are highly desirable.

Essential Skills:

- Analytical Acumen: Proficiency in analyzing complex data sets to detect fraud patterns.

- Technological Proficiency: Familiarity with fraud detection software and data analytics tools.

- Regulatory Knowledge: In-depth understanding of banking regulations related to fraud and financial crimes.

- Leadership and Communication: Strong leadership skills with the ability to communicate effectively across all levels of the organization.