Manager, Fraud Prevention

Job Purpose Responsible to implement fraud prevention methodologies based on the bank's strategy.Prevent, detect frauds & review referrals mitigating controls accordingly.Respond to suspicion, conduct detailed analysis on the attempted or suspicious fraud cases referred to Fraud Risk Management Unit & provide a report containing the findings, conclusion and recommendations to the management for recommended actions.Imparting trainings to all staff and partners about fraud typologies along with recommended controls/ mitigations.Timely preparation of fraud awareness messages to staff and customers on a periodic basis.Review and filing of Suspicious Activity Report (SAR) & Suspicious Transaction Report (STR) pertaining to fraud related matters.Documenting the review and decision for filing the STR/ SARs.Conduct FRMU analysis related to any fraud referrals or incidents as assigned.Automation of the FPU tasks where applicable including prevention and detection strategies.Display UAB Values of Integrity, Customer Focus, Competence, Consistency and Courteousness.Principal Accountabilities Monitor and identify high-risk applications within the business portfolio.Observe customer card transactions to identify fraudulent activity such as document Fraud, identity theft and similar other risks.Resolve queued transactions within the service level agreements to reduce potential revenue losses and affecting customer experience.Interact with employees and customers to validate information & to match the statements with the information mentioned in the product application form.Resolve internal customer issues within the scope of existing service level agreements.Ensure confidentiality of all information collected during the fraud risk management unit (FRMU) analysis.Identify system improvements to prevent fraudulent activities.Recommend anti-fraud processes for changing transaction patterns and trends.Recommend new tools used for fraud prevention, detection and reporting activities.Handling & Reviewing Referral cases as well as conducting sampling review to identify Fraud Risks (Identity theft, suspected set- up company, document forgery etc.)Fraud Forum Activity – Communicating with the peer banks upon receiving alerts from the peer bank on the particular individual/company & taking necessary actions in case of negative feedback received to mitigate the potential loss of the bank and recording the same via a tracker.Evaluate the effectiveness of current tools, identify capability gaps, and recommend investments in advanced technologies to enhance fraud detection, prevention, and response.Promote a strong culture of fraud awareness and provide expert guidance to business units and stakeholders on fraud risk and prevention.Updating the blacklist database in the bank's system/ application on a timely basis & disseminating the information to the key stakeholders in a timely manner Establish a clear SLA with the Fraud Investigation, for proper documentation and reporting timelines to minimize customer experience impact.Develop fraud prevention policies and procedures to comply with regulatory requirements.Assisting FRMU in conducting Fraud Risk Assessments.Ensuring that the fraud risk losses are within the overall Risk Appetite of the bank.Job Requirements (Qualifications/Experience)Bachelor/ Master's Degree from a recognised institution Professional certifications (e.g., CFE, ACAMS, CISA, CISM)10+ years of banking experience in Fraud Risk Management Understanding concepts of fraud prevention/ detection as part of risk management in banks#J-18808-Ljbffr