D360 Bank

Requirements

Candidates should possess a tertiary-level qualification and at least 3 years of experience in a similar domain. Technical proficiency in root cause analysis, auditing, and regulatory awareness is required, along with experience in project implementation and staff supervision.

Job Summary

The role is responsible to oversee the Bank’s fraud monitoring and detection
activities, with focus on external fraud risks. The role supervises monitoring
staff, related processes, and systems to ensure timely identification and
escalation of suspicious transactions. Responsible for overseeing fraud
scenarios, alert prioritization, and parameter tuning, and providing operational
support to the scoring module. The role covers monitoring of financial
transactions in line with approved scope of counter fraud department as per
approved policy. Additionally, the role supervises the handling of fraud-related
inquiries and cases received from SAMA and other banks within the monitoring
scope.

RESPONSIBILITIES

* Supports the Department Head in implementing the approved strategy within the
defined monitoring scope.
* Contributes to the review, development, and amendment of monitoring-related
policies, procedures, and standards, and supports their implementation within
the monitoring scope.
* Ensures monitoring activities comply with approved anti-fraud policies,
procedures, and standards, and escalates identified gaps where required.
* Supervises the day-to-day operations of the monitoring unit, including shift
management to ensure 24/7 coverage, staff availability and leave planning,
and timely escalation of system issues or downtime, to ensure monitoring
activities operate effectively and in line with approved policies and
procedures.
* Supervises and assists in the implementation of changes related to the fraud
monitoring system, which should include a prioritization system and a scoring
model for the alerts received.
* Works with the GRC team to ensure full alignment between the FRA outcomes and
the Monitoring system related controls.
* Participate in the review of all bank’s the policies, procedures and other
artifacts from a fraud monitoring Lense to and identifies potential areas
that provide opportunity for fraud and cooperates with other relevant parties
for the development of fraud control methods and tools.
* Ensures that all transactions are accurately and effectively monitored and
controlled against any suspicious and potential fraud activities, in order to
enhance the protection of the Bank from potential losses.
* Provides guidance and support for the other teams in Counter Fraud Department
for the analysis of incidents identified and provides analytical reports of
fraud monitoring results, developing propositions for overcoming and avoiding
fraud incidents, so as to support management to proceed to the adequate
decision making.
* Reviews proposed improvements and remedial action plans arising from
investigation outcomes, and provides monitoring-related input and support to
facilitate resolution of identified issues and reduce potential future risks.
* Reviews and assess the efficiency of the monitoring scenarios, prioritization
system and scoring model implemented and proposed modifications so as to
achieve efficiency of interventions.
* Coordinates the exchange of information with external financial institutions
regarding cases or fraud, fraud trends identified, etc. within the monitoring
unit scope.
* Supports the Head of Counter Fraud and other unit managers in:
* Processing the requests received from the Central Bank of Saudi review its,
and response is completed within the time specified by SAMA.
* The implementation of requests from the Central Bank of Saudi Arabia with
regards to Policies, Processes and Procedures.
* Provide Mentoring and support for all staff within his purview or as assigned
per other requests.
* Stimulates subordinates and contributes to the identification of
opportunities for continuous improvement of systems, processes and practices
taking into account international best practice, improvement of business
processes, cost reduction and productivity improvement.
* Works with GRC on the development of awareness programs and material, so as
to inform accordingly all departments about Anti-Financial Fraud risks.
* Prepares timely and accurate reports to meet the bank and department
requirements, policies and standards, and the Central Bank of Saudi Arabia
SAMA as per the requests received.
* Ensures that all identified incidents by the monitoring system are timely
reported to all relevant parties, e.g. business operations, management and
legal, in order to assist the implementation of corrective and preventive
actions.
* Supports the Head of Counter Fraud in ensuring that required periodic reports
of monitoring are timely and accurately submitted to SAMA and Bank
management.
* Participate in committees/meeting as per assignment provided by the Head of
Counter Fraud.
* Ensures all staff have clear objectives, regular performance feedback
sessions, formal annual appraisals, and individual development plans, with
particular emphasis on the development of talented Saudi national staff.
* Ensures and facilitates the employment, training and development of staff
within the Monitoring unit
* Perform any other duties assigned to by line manager related to the nature of
the work
* Enforce, incorporate, and comply with all necessary controls and related
information security policies, procedures, practices, training, reporting,
personal due diligence and vigilance, within departmental/unit activities and
operations.

QUALIFICATIONS

Preferred Qualifications

* A tertiary-level qualification from an internationally recognized
institution

Years & Nature of Experience

* 3+ years of experience in the same or a similar domain
* An experienced professional who is able to deliver on difficult technical
tasks
* Has project implementation experience
* Is self-sufficient at work and could be given small project responsibility
* Has provided technical supervision to junior staff in the past

Technical Competencies

* Root Cause Analysis
* Testing and Auditing
* Legal & Regulatory Awareness
* Evidence Collection

Behavioral Competencies

* Communication
* Attention to Detail
* Decision Making

Responsibilities

The role oversees the bank’s fraud monitoring and detection activities, including supervising staff, managing fraud scenarios, and ensuring timely escalation of suspicious transactions. It also involves coordinating with external financial institutions and the Central Bank of Saudi Arabia to ensure compliance and effective fraud risk mitigation.