Card Fraud Risk Associate

Job Description
Job Summary.
The incumbent will be primarily responsible for monitoring the risk with respect to the Group's card portfolio (credit / debit / prepaid) with the objective of minimizing card losses by taking timely corrective/ remedial actions. Primarily has the responsibility for utilizing proprietary and third-party systems to monitor for suspicious and/or unusual customer card payment activity to minimize fraud losses perpetrated by and against customers.

In addition, the incumbent will also work closely with external customers and internal teams providing oversight, guidance in relation to Card Risk Issuing.

Essential Duties & Responsibilities by Dimensions:

Shareholder
&
Financial:

• Analyse card usage trends (by merchant, channel, country, product, etc…) to identify, monitor and manage the fraud risk of the Group's card business and take the necessary corrective/ remedial action on timely basis to minimize card fraud losses in line with Group fraud risk appetite.
• Implements KPI's and best practices for Card Risk (Issuing)
• Promote cost consciousness and efficiency and enhance productivity, to minimise cost, avoid waste, and optimise benefits for the bank.
• Act within the limits of the powers delegated to the incumbent.

Customer (Internal & External):

• Liaise with Group ITD on issues pertaining to enhancements in card systems (includes core-banking, authorization and card monitoring tools) to enable better management of the risk involved in cards usage.
• Communicate with VISA, MasterCard, American Express and other card schemes on specific card fraud issues, as and when required.
• Review transaction acceptance performance, fraud controls and rule configurations in order to reduce excessive fraud levels.
• Respond to queries regarding unrecognized and/or suspicious card transactions.
• Liaise with domestic Group divisions, departments in identifying potential fraud risk exposure with end objective to minimize, prevent and remediate any losses to the customers and the Organization.
• To assist customers in all their queries on Bank's product and seek solution to their requests.
• Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/units to achieve improvements in turn-around time.
• Build and maintain strong/effective relationships with related departments/units to achieve the Group's objectives.
• Provide timely/accurate data to external/internal Auditors, Compliance, Financial Control and Risk when required.

Internal (Processes, Products, Regulatory):

• Ensure the appropriateness of card risk-engine rules (credit/debit/prepaid/contactless), making changes or amendments to rules configuration in light of emerging fraud trends.
• Ensure appropriate fraud reporting is undertaken on issuing fraud, with a view to identifying commonly occurring patterns and trends.
• Ensure that all customer complaint cases related to fraudulent use of cards are resolved in a timely manner in conjunction with concerned business and operations departments.
• Analyze on regular basis card portfolio usage reports to facilitate periodic review of usage-limit consistency.
• Ensure that suspicious card transactions as notified to the incumbent by call center personnel and/or branch customer service staff are attended to and resolved in a timely manner.
• Assist internal/external auditors, as required, in conducting investigation cases related to card fraud incidents.
• Ensure proper reporting of card fraud cases on timely basis as mandated by the relevant payment systems and local regulatory authorities.
• Work with Group Head of Operational Risk Fraud Oversight and AGM Group Operational Risk to reduce the likelihood of a negative card fraud risk event by establishing and reinforcing the infrastructure to support a strong control consciousness.
• Hold meetings with staff and assess their performance, using as a primary benchmark the Card Risk Quality Scorecard, as well as the section's overall performance, on a regular basis.
• Take decisive action to ensure speedy resolution of unresolved staff grievances or conflicts within the team.
• Support roll-out of card fraud awareness training for customer service staff.

Learning & Knowledge:

• Possess a good knowledge of the risk involved in all card products (credit/debit/prepaid/contactless) and merchant payment channels (POS, eCommerce, MO/TO and good knowledge of related operations, controls and regulatory framework.
• Identify areas for professional development of self.
• Proactively identify areas for professional development of self and undertake development activities.
• Seek out opportunities to remain current with all developments in professional field.

Legal, Regulatory, and Risk Framework Responsibilities:

• Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, Group Compliance Policies and Procedures (AML & CTF, Sanctions Policy, Data Protection Policy, Fraud Control Policy, Whistle Blowing Policy, Conflict of Interest and Insider Dealing Policy).
• Understand and effectively perform your role under the Three Lines of Defence principle to identify measure, monitor, manage and report risks.
• Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.
• Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
• Maintain appropriate knowledge to ensure full qualification to undertake the role.
• Complete all mandatory training provided by the Bank, attain, and maintain the required levels of competence.
• Attend mandatory (internal and external) seminars as instructed by the Bank.

Other:

• Ensure high standards of data protection and confidentiality to safeguard commercially sensitive information.
• Maintaining utmost confidentiality concerning customer and internal bank information obtained during the course of business and provide such information on a need-to-know basis only to Senior Management of Bank, Audit and Compliance functions, and relevant Regulators.
• Maintain high professional standards to uphold Company's reputation and to strengthen its market leadership position.
• All other ad hoc duties/activities related to the management might request from time to time.

Education & Experience Requirements:

• University bachelor's degree graduate preferably with a Major in Marketing, Banking, Finance, Accounting, Economics, Business Administration or Information Technology (related field of study).

Required Special Skills:

• Excellent oral and written communication skills (including report writing) in English and Arabic.
• Good interpersonal and presentation skills.
• Understanding of the relevant laws, regulations, and practices.
• Ability to make decisions and follow through with initiatives.
• Personal integrity and self-management.
• Planning, organising, and analytical ability.
• Results oriented.
• Strong analytical skills and the ability to communicate both verbally and in writing with all levels of management.