Senior Fraud Risk Manager Senior Fraud Risk Manager …

Arab Banking Corporation
in Manama, Capital Governorate, Bahrain
Permanent, Full time
Last application, 28 Nov 21
Arab Banking Corporation
in Manama, Capital Governorate, Bahrain
Permanent, Full time
Last application, 28 Nov 21

Job Purpose:

This is a senior risk management role within Group Fraud Risk Management directly responsible for building a fraud risk monitoring command center and fostering the culture of fraud risk prevention, detection, and response across ABC Group. The incumbent will be asked to:

  • Design & implement a sound fraud monitoring program, policies, procedures, and fraud monitoring systems to manage fraud risk throughout ABC Group,
  • Ensure alignment of fraud risk management strategies across the Group in accordance with the enterprise-wide Risk Management, Internal Control and Operational Risk Management Policies.
  • Set up Fraud Risk Dashboard.
  • Guide leadership within Group and provide expertise, advice, and counsel to Senior Management, enhance the Group abilities to anticipate and manage fraud events effectively.
  • Oversee the adequacy and strength of the Internal Control throughout the Group and recommend management action to ensure the fraud risk profile supports the achievement of business objectives.
  • Manage fraud events on timely manner by ensuring quick recovery, analyzing the root cause, and the recommend appropriate actions to avoid reoccurrence.

Principal Responsibilities, Accountabilities and Deliverables of Role:

 1)   Strategy, Policy, Framework and Governance

  1. Drive the design and implementation of Fraud Risk Management program, tools, and culture.
  2. Ensure that Fraud Risk Management Framework and policies satisfy group, local, and industry regulatory requirements and standards.
  3. Ensure that all major fraud risks are identified, properly mitigated, and monitored.
  4. Drive continuous enhancement of FRM Program Group for more efficiencies and effectiveness.
  5. Ensure compliance with PCI DSS & PA DSS standards across relevant business.
  6. Support Group Head of Operational Risk & Fraud Risk Management in setting and running a sound FRM governance.

2)   Process Management

  1. Support standardization, automation and efficiency through re-engineering and process improvement initiatives across the Group to deliver desired client experience across all channels/ products.
  2. Ensure strong collaboration and concerted efforts with key stakeholders /partners by:
  • Sharing information on fraud trends and identifying emerging fraud threats.
  • Leveraging on common tools, information, and processes.
  • Designing and implementing a fraud preventive strategy
  • Supporting the 1st Line of Defense in strengthening their RCSAs and identifying, assessing, mitigating, and monitoring fraud risks.
  1. Strengthen Fraud Risk Management capabilities, skills, and infrastructure to enable swift detection and response to fraud attacks.
  2. Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
  3. Support the implementation of the FRM Program and design/monitor the fraud risk metrics to identify potential control weaknesses.
  4. Build and coordinate appropriate fraud detection, deterrence, and investigation activities to limit the likelihood /impact of Fraud incidents/events
  5. Recommend and monitor the implementation of longer-term remediation action to reduce likelihood/ impact of known fraud trends.
  6. Manage fraud incidents and ensure a comprehensive root-cause analysis is completed.

3)   Systems

  1. Design and maintain the Group’s Fraud Risk Management Systems.
  2. Continuously enhance the rules for identifying/preventing suspicious transactions on cards and non-cards-based transactions.
  3. Ensure that the automated fraud detection system is working effectively for cards and non-cards.
  4. Identify and review emerging and current transactional fraud risk to fine tune the rules/parameters to enhance or improve detection rates and false positive rates.
  5. In collaboration with the bank’s IT security team, proactively highlight the latest Fraud Cyber threats landscapes.

4)   Analysis and Reporting

  1. Prepare analyses reports for Senior Management on key findings as part of the Fraud Risk Management Framework.
  2. Drive standardization and ensure postmortem investigative recommendations are fully adopted across the Group.
  3. Ensure Lessons Learned are shared with all business units/countries on timely manner.
  4. Prepare Internal & External reporting.
  5. Set up a robust MIS deck that captures internal and external fraud trends

5)   Training and Awareness

  1. Work with HR and Management and provide training and guidance across the Organization to foster fraud fighting culture.
  2. Conduct Fraud awareness and prevention campaigns internally and externally.

6)   General Management

  1. Run/Participate in appropriate business meetings, forums, and committees, as required.
  2. Develop a collaborative relationship with regulators, peer banks and industry forums to help detect and mitigate fraud risks.

Job Requirements:


  • Proven experience in fraud detection system such as One Span, VRM, FRM, SAS, Risk Net, etc.,

Education / Certifications

  • Bachelor’s degree in Banking, Management, Finance or Data science.


  • Minimum of 7-10 years’ experience in applications fraud management, multi-product, multi-channel, and multi-function fraud risk management in Banking.
  • Work in a matrix organization with proven ability to leverage resources and capabilities across the organization without direct reporting.
  • Good working knowledge of technology systems, e-commerce, online/electronic payments, accounting/finance analytical skills with proven ability to identify and develop solutions to improve fraud risk mitigation, reduction, and avoidance.
  • Payment scheme mandatory fraud control requirements from a PCI DSS & PA DSS.

Personal Attributes

  • Strong understanding of enterprise fraud risk management.
  • Outstanding interpersonal, communication and presentation skills.
  • Ability to communicate with and gain confidence of the Bank’s Senior Management.
  • Ability to multi-task and work independently on initiatives.
  • Executive-level presence and demonstrated ability to collaborate with Senior Management-level.
  • Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills.
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