Anti-Fraud Risk, Governance & Compliance Consultant

About This Role

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)