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Job Description
POSITION SUMMARY:
- Manages activities necessary for Loss Prevention Systems and all related phases of fraud prevention and detection.
- Provides recommendations to Loss Prevention for software and procedural improvements that reduce exposure of fraudulent activity.
- Provides direction in formal “Processes and Policies” or informal “Guidelines and Training” to establish basis for controlling risks and fraud attacks opportunities.
- Supports management and technology in establishing priorities for the organization Loss Prevention functions with a focus on mitigating losses, protecting organization assets, and reducing reputation risk.
- Works with Business Units to understand products and goals to define necessary detection and prevention built in controls.
- Transforming these control requirements to technology non-business functional requirements to develop and implement controls and safeguards consistent with corporate strategic goals.
- Participates with business influential authorities and organizations for awareness of: Compliance mandates for business offering conditions. Industry fraud risk trends and issues that are yet not resolved or addressed through compliance requirements. Represent the organizations in events and debates that discuss relevant fraud and risks subjects.
- Assure compliance of the assigned team with all applicable Regulations and service rendering policies and procedures.
- Focuses on making sure that organization maintain the necessary evidences that guaranty its safe and sound position against any dispute, arbitration or legal case.
- Reports to Management on regular basis the Risk exposure, Fraud attacks status and weakness identified in each business area with planned resolution status.
POSITION DUTIES:
- Analyses the organization business products and draw their service boundaries blueprint with identification of exposure to fraud risks in classified matrix by nature of risk and impact.
- Define the foundation of policies and procedures that governs the organization business products to set the basis for compliance checking and assessments.
- Helps the different business and technology departments to apply the self-assessments on their products and identify the risky points for resolution planning.
- Design and lead necessary fraud trapping controls implementations with alerts and reports to detect and prevent attacks if feasible.
- Manages complex fraud cases, suspicious attack attempts and projects as assigned.
- Participates in organized successful fraud incidents causal analysis sessions to lead detection and prevention suggestions.
- Provides support to Field Investigators and the Manager of Loss Prevention Systems. Represent Loss Prevention in the development, review and approval of new policies and procedures.
- Supervises the creation, maintenance and updates of the teams cases entered in the case management system.
- Provides support to the Loss Prevention Team effort on issues related to internal and external customers involving fraudulent/suspicious account/card transactions.
- Provides monthly management reports of departmental activity volumes, loss prevention results, and fraud loss experience.
- Measure the effectiveness of current loss prevention software, process, and staff awareness as defense lines.
- Identify changes to parameter settings, and implement changes to combat evolving fraud trends.
- Supports organization initiatives to certify its critical products for industry standards fraud, AML or other financial risk exposures.
- Actively participates in industry peer groups to increase knowledge and understanding of industry best practices.
Job Requirements
- BA in Business related field preferred; not required depending upon experience.
- Minimum 5 years fraud detection, prevention and/or investigations exp. within the financial services industry.
- Strong experience in Cards fraud management that should be supported with formal training through Card scheme program or equivalent.
- Solid understanding of channel nature fraud attraction and behavior through attendance of relevant programs and seminars.
- Supervisory experience required.
- English language is a must.
- Ability to ensure the team’s compliance in the disposition of fraud claims and in communication of the disposition to customers and business unit leaders.
- Ability to identify and assess the effectiveness of multi-payment channel controls and propose/implement mitigating strategies.
- Good communication skills with all levels of management.
- High level of ethics and professionalism.
- Proven ability to manage and motivate a team and team leaders/managers.
- Strong project management skills.
