Senior Manager, Fraud Governance & Reporting

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

The role will play a critical role in establishing, maintaining, and enhancing the organization's fraud risk management framework. This position is responsible for developing and overseeing the governance structure, policies, and procedures related to fraud, as well as driving comprehensive and insightful reporting to senior management and relevant committees. The successful candidate will ensure that the organization's fraud governance aligns with regulatory expectations, industry best practices, and the evolving fraud landscape.

Principle Accountabilities

• Collaborate with the Head of Fraud Risk Management to develop and implement a robust fraud governance and reporting strategy aligned with the company's overall risk management framework.
• Develop a comprehensive fraud risk assessment framework for the entire bank.  Ensure compliance with the Central Bank of the UAE's mandate by conducting regular fraud risk assessments to objectively evaluate risk exposure and develop relevant control measures.
• Create and annually update a documented fraud risk assessment report, outlining identified risks, assessing their likelihood and impact, and stating the bank's risk tolerance levels.
• Develop, implement, and oversee a robust system of fraud controls and countermeasures to mitigate identified risks, aligning with the bank's risk appetite and regulatory requirements.
• Regularly assess the bank's fraud risk exposure to comply with regulatory mandates, identify potential vulnerabilities in products, services, channels, processes, and technologies, and advise on the implementation and enhancement of targeted controls.
• Demonstrate the bank's commitment to managing fraud risks for regulatory compliance and reputation maintenance by providing senior management with insights into fraud risk exposure, informing strategic decisions, and focusing employee training and awareness programs on specific fraud risks.
• Actively participate in cross-functional project teams, providing valuable fraud risk expertise and well-reasoned recommendations to inform decision-making.
• Conduct in-depth analysis of fraud data and trends to produce comprehensive reports. These reports should include not only quantitative data but also qualitative insights and actionable recommendations to enhance fraud prevention and detection strategies.
• Ensure the timely and precise reporting of fraud-related data to relevant stakeholders including the Head of Fraud Risk, Executive Management and Risk Committees and oversee the bank's adherence to fraud-related reporting requirements mandated by regulatory bodies. This involves ensuring the accuracy and punctual submission of all required reports, maintaining compliance with regulatory standards.
• Challenge the effectiveness of existing fraud controls and recommend enhancements or new controls to mitigate identified risks.
• Monitor the implementation of control improvements and track their effectiveness over time.  Participate in new product development or process change initiatives to ensure fraud risks are appropriately assessed and mitigated from inception.
• Regularly report on critical fraud trends, financial losses, fund recoveries, and the overall effectiveness of the fraud prevention program.
• Plays a key role in working in tandem with the Head of Fraud Risk Management in implementing the governance and reporting strategy for the bank.
• Remains updated on emerging threats, regulatory changes, and advancements in fraud prevention technologies and methodology
• Experience in dealing with regulators, law enforcement, card schemes and industry bodies.
  
  

Requirements:

Experience And Qualifications

• Minimum of 10 -12 years of progressive experience in fraud risk management, with at least 5-7 years in a governance and reporting focused role.
• Expertise in identifying current and emerging fraud trends, attack methodologies, fraud typologies, and indicators across all channels and product lines.
• Extensive experience in developing and implementing fraud risk management frameworks, policies, and procedures.
• Develop and consistently deliver engaging fraud awareness training modules, impactful communication campaigns to reinforce key messages, and accessible educational materials for employees at all levels.
• Create user-friendly customer-facing fraud prevention guides, informative content for the bank's website and mobile applications, and engaging communications for various channels, including social media  Ability to identify, assess, evaluate, and mitigate various types of fraud risks in banking.
• Extensive hands-on experience with fraud detection and prevention tools, technology platforms, and specialized technologies in banking.
• Bachelor’s degree in finance, Business Administration, IT, Computer Science, Criminal Justice, or a related field is required; a Master's degree is strongly preferred.
  
  

Skills

• Strategic thinking and problem-solving abilities with a track record of innovative solutions for evolving fraud challenges
• Proven expertise in designing and delivering comprehensive fraud risk reports to senior management and board-level committees.
• Strong analytical skills with the ability to interpret complex data, identify trends, and provide actionable insights.
• Proficiency in using data analysis tools (e.g., SQL, Excel, data visualization tools like Tableau/Power BI).
• Demonstrated ability to manage multiple priorities and projects in a fast-paced environment