Officer - Application Fraud
ADIB - Abu Dhabi Islamic Bank
Date: 7 hours ago
City: Sharjah
Contract type: Full time
Role: Officer - Application Fraud
Location: Sharjah
Role Purpose:
- This is a fraud risk management role, directly responsible for developing a center of excellence for Fraud Risk Management (FRM) by fostering the culture of FRM across ADIB Group.
- To detect, control and minimize fraud incidents and fraud risks.
- To perform efficient fraud risk control job tasks and ensure adherence to approved policies and procedure.
- To provide prompt, efficient and accurate services to customers and cross-functional teams while maintaining agreed service levels.
- To efficiently control fraud risks pertaining to the acquisition of all products and customers.
Key accountabilities of the role:
- Detect application fraud by conducting application sampling on new acquisitions of all products.
- Conduct Fraud verifications & preliminary Investigations of incidents as per approved processes to ensure timely detection and recovery of fraud incidents and losses.
- Review impairment reports and identify potential application/documentary & syndicate frauds.
- Strengthen fraud risk controls of the 1st and 2nd line of defense by highlighting findings based on the reviews & preliminary investigations.
- Conduct sample checking and monitoring of contact point verification process conducted by internal staff & external vendors/agencies.
- Preparation and analysis of Fraud Risk Management MIS for timely identification and corrective action on areas of risk as evident from periodic MIS.
- Improved service delivery and satisfaction of customers and business partners by adherence to turnaround times on processes fraud control and other activities without compromising on risk.
- Exercise Due diligence while handling transactions/ queries / customer applications and instructions. Proactively identifying risk / fraudulent transactions and escalating the same as appropriate.
- Work closely with the UAE fraud forum to understand the pulse of the market from a risk perspective and the emerging fraud risks.
- Monitor real-time queues and identify high risk transactions within the business portfolio of eChannel’s.
- Close monitoring of various degrees of Alerts for mobile banking, internet banking, ATM’s, Swift transfers, & other electronic financial banking transactions.
Risk and Control Governance:
- Conduct mystery shopping and seeding activities to detect fraud incidences and identify weak processes & vendors.
- Detect fraud incidents assess control standards by conducting sampling of records of various processes across functions, sourcing channels and products.
- Operational & Fraud Risk Management Center of Expertise:
- Provide guidance and support to ORM stakeholders with respect to fraud risk management programs and assessments carried out.
- Acts as a Center of Excellence for education and advocacy of information on ADIB Group’s Fraud risk management practices and programs to foster sound FRM in ADIB Group leading to embedding a fraud risk mind-set in the business.
Other Tasks:
- Carry out other tasks as and when required in consultation with the Head of Fraud Risk Management.
Specialist skills / technical knowledge, technical competencies required for this role:
- Fraud investigation and analysis skills.
- Fraud risk control awareness and competency.
- Knowledge of retail banking products and channels.
- Expertise and knowledge on market fraud trends.
- Working knowledge of leading operational risk practices and regulatory requirements.
- Demonstrated ability to collaborate with Senior Management-level professionals.
- Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills
- Computer skills (e.g. Microsoft Office Suite)
Previous experience:
- 3 or more years of experience in verification, risk control and risk prevention function.
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