Fraud Risk Manager

Job Purpose:

The Fraud Risk & Investigation Manager is responsible for implementing fraud risk management strategies, policies, and controls to detect, prevent, and mitigate financial fraud risks at FAB KSA. The role ensures compliance with SAMA regulations, and counter fraud prevention frameworks. This includes leading fraud investigations, enhancing fraud monitoring systems, and advising on fraud risk governance.

Key Accountabilities:

Fraud Risk Strategy & Governance

• Implement fraud risk management frameworks, policies, and controls in line with SAMA regulations and international best practices.

• Lead fraud prevention initiatives, ensuring alignment with FAB Group’s risk and compliance strategy.

• Monitor fraud risk trends and assess emerging threats in digital banking, payments, and customer transactions.

Fraud Detection & Investigation

• Oversee fraud risk monitoring systems and transaction screening tools to detect suspicious activities.

• Lead fraud investigations, collaborating with compliance, legal, and law enforcement authorities.

• Manage incident response plans, ensuring timely resolution and reporting of fraud cases.

Regulatory Compliance & Reporting

• Ensure compliance with SAMA’s fraud risk policies, AML/CTF laws, and cybersecurity regulations.

• Prepare and submit fraud-related regulatory reports and internal risk assessments.

• Act as a key liaison with regulators, auditors, and law enforcement agencies regarding fraud risk matters.

Technology & Fraud Prevention Tools

• Work with IT and data analytics teams to enhance fraud detection capabilities through AI, machine learning, and predictive analytics.

• Evaluate and implement fraud management solutions and digital risk controls.

• Strengthen cyber fraud prevention mechanisms, ensuring secure online and mobile banking transactions.

Stakeholder & Employee Training

• Conduct fraud awareness training programs for employees and business units to enhance fraud prevention culture.

• Collaborate with internal teams, senior management, and external partners to strengthen fraud risk controls

Job Context:

• This role is critical in protecting FAB KSA from financial losses, regulatory risks, and reputational damage due to fraud.
• Requires a proactive and analytical approach to fraud risk detection, investigation, and mitigation.
• Involves close collaboration with risk management, compliance, IT security, and law enforcement agencies

Frameworks:

• Functions within the framework and boundaries of Group policies as well as overall organizational and governance frameworks.
• Authorized to take decisions as per the approved authorization matrix.

Qualification & Experiences:

Minimum Qualification

Bachelor’s Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, corporate governance, risk management or internal audit.

Minimum Experience

Minimum of 5 year of experience in a reputed bank or fraud risk management, AML compliance, financial crime investigation, or cybersecurity risk.

Strong understanding of SAMA regulations, global fraud risk standards, and financial crime compliance.

Certified fraud examiner or equivalent.