Anti-Fraud Risk, Governance & Compliance Consultant

Overview

• **1.
• Risk Management (Fraud Risk)*** Maintain and update the Fraud Risk Register in alignment with regulatory expectations
• Conduct Fraud Risk Assessments (FRA) across systems, applications, and digital channels
• Identify emerging fraud typologies (e.g., phishing, account takeover, card fraud, social engineering)
• Perform root cause analysis and recommend control improvements
• Track fraud risks, trends, and key risk indicators (KRIs)
• **2.
• Governance & Frameworks*** Support the implementation and maintenance of the Anti-Fraud Framework
• Establish and maintain fraud-related policies, procedures, and governance structures
• Ensure proper fraud incident escalation and reporting processes
• Promote and manage whistleblowing and fraud reporting channels
• Coordinate with internal stakeholders (Compliance, Risk, Legal, IT, Cybersecurity)
• **3.
• Compliance & Regulatory*** Ensure compliance with regulatory requirements (e.g., SAMA Fraud Framework, AML guidelines)
• Support internal and external audits and regulatory inspections
• Prepare and submit fraud reports to senior management and regulators (if required)
• Monitor adherence to internal fraud risk policies and standards
• **4.
• Controls & Monitoring Oversight (High-Level)*** Recommend preventive and detective controls (e.g., MFA, transaction limits, behavioral analytics)
• Validate effectiveness of fraud controls and monitoring systems
• Oversee fraud monitoring activities and ensure proper case handling
• **5.
• Reporting & Performance Management*** Prepare fraud dashboards and MIS reports
• Track KPIs such as:
• + Fraud loss ratio
• + Detection rate
• + False positives
• + Investigation turnaround time
• **6.
• Awareness & Culture*** Conduct fraud awareness programs for employees and customers
• Promote fraud risk awareness and accountability across the organization
• **Requirements** **Experience Level:** Mid-Senior (5–8 years)
• **Core Focus:** Fraud Risk + Governance + Compliance
• **Backgrounds:** Risk / Audit / Compliance / Financial Crime
• **5–8 years of experience** in Fraud Risk Management, Risk & Compliance, Internal Audit, or Financial Crime Prevention
• Proven experience in conducting **Fraud Risk Assessments (FRA)** across digital channels, payment systems, or banking operations
• Strong understanding of fraud typologies such as:
• + Phishing
• + Account takeover
• + Card fraud
• + Social engineering
• + Internal fraud
• Solid knowledge of:
• + Fraud Risk Management frameworks
• + Governance, Risk & Compliance (GRC) principles
• + Regulatory requirements (e.g., SAMA Fraud Framework, AML guidelines)
• Experience in:
• + Fraud risk identification, assessment, and mitigation
• + Root cause analysis and control improvement recommendations
• + Incident escalation and fraud case governance
• Familiarity with fraud controls such as:
• + Multi-Factor Authentication (MFA)
• + Transaction limits
• + Behavioral analytics (conceptual understanding)
• Experience in monitoring fraud risks and tracking:
• + Fraud KPIs / KRIs (e.g., fraud loss ratio, detection rate, false positives)
• Experience working with cross-functional teams:
• + Compliance
• + Risk Management
• + Cybersecurity
• + IT
• + Legal
• Experience in audit and regulatory support:
• + Internal and external audits
• + Regulatory inspections and reporting
• Strong reporting skills:
• + Preparing fraud risk reports and management dashboards (MIS)