Job Purpose To identify, assess and monitor fraud risks and ensure processes and controls are established and maintained to manage those risks on a bank wide basis.
Job Accountabilities Business Specific 1. Develop a Fraud Risk Management framework and standards for fraud monitoring, detection and reporting. 2. Manage, lead and develop the Fraud Management unit 3. Identify and track Key Risk Indicators (KRIs) related to fraud risk 4. Collaborate with different business units to analyze transactions, internal reports and financial information in order to optimize fraud detection and manage potential fraud risks. 5. Initiate proactive measures/strategies and in-depth data analysis to detect and reduce fraud as well as monitor fraud risk trends / red flags. 6. Ensure various end-to-end fraud risks are being actively prevented and detected in a timely manner. Coordinate and support Internal Audit team on fraud investigations. 7. Provide assurance and regular reporting to the Banks senior management that fraud risks are managed in line with the Banks Fraud Risk Management framework, risk appetite and regulatory expectations. 8. Provide subject matter expertise on Fraud Risk Management to all business and support units. 9. Propose suitable fraud risk appetite and drilldown to the unit levels. 10. Support Operational Risk Management (ORM) team in ensuring that fraud risk assessments are done across all units in the bank as well as for new products, services, processes, etc. 11. Work closely with ORM and business units in identifying key fraud risk issues and recommending changes to the business practices / process control environment to reduce the level of fraud risk to within the agreed appetite. 12. Lead the selection of systems and tools used for fraud risk management and ensure that bank and regulatory requirements are met. Education & Qualification
Bachelors Finance Graduate/Postgraduate. Degree in Risk Control, Banking, Accounting or Management etc. CFE / CIA / CA / CPA or equivalent designation preferred. Knowledge - Knowledge of the banking industry, fraud risk management, functional aspects of IT systems and all regulations governing the banking business - Knowledge of local banking practices in Kuwait including normal banking products, policies, procedures and processes Experience 10 years in banking with at least 5 to 8 years in Fraud Risk Management, preferably in a Fraud Detection and Prevention role or in a combination of Fraud Risk and other control functions such as Compliance, Audit, Operational Risk etc.
