Anti-Fraud Risk, Governance & Compliance Consultant

About This Role

6. Awareness & Culture

• 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)

• 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)

• 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

• 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

• Reporting & Performance Management

• Prepare fraud dashboards and MIS reports

• Track KPIs such as:

• Fraud loss ratio
• Detection rate
• False positives
• Investigation turnaround time
• 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)