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Head of Fraud Risk Management

ADIB - Abu Dhabi Islamic Bank
, UAE
FraudManagementRisk
Free

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Role Purpose

  • This is a Senior Management role within Group Risk Management directly responsible for developing a center of excellence for Fraud Risk Management (FRM) by leading and coaching a team of Fraud Risk Managers and Analysts that will drive the culture of FRM across ADIB Group.
  • The role requires a proactive and confident individual, with a minimum of 15 years' experience in Fraud Risk Management, who can communicate and build strong relationships across the wider business. Possess the ability to work in a matrix organization, leverage resources and capabilities across ADIB’s businesses.
  • The role is accountable for establishing, maintaining and independently overseeing an Group-wide FRM Policy/ Framework, covering prevention, detection, investigation coordination, response, recovery, remediation, reporting, analytics, training and continuous monitoring of internal fraud, external fraud including but not limited to application fraud, payment and card fraud, digital and e-channel fraud, social engineering, third-party/vendor fraud, cyber-enabled fraud and emerging fraud typologies.
  • The role must ensure alignment with Board-approved risk appetite, CBUAE fraud-related regulations and notices, Operational Risk requirements, Consumer Protection expectations, AML/CFT and suspicious activity reporting interfaces, Model Management Standards where fraud rules, scoring engines or AI/ML models are used, and leading international practices including COSO/ACFE and Basel operational risk principles.
  • In addition, the role is responsible for:
  • Guide leadership by providing expertise, advice and counsel to anticipate and manage fraud risks effectively.
  • Oversee the adequacy and strength of the Internal control throughout and recommend management action to ensure the fraud risk profile supports the achievement of business objectives.
  • Act as a trusted adviser to Senior Management on FRM aspects.
  • Manage fraud incidents timely and conduct an exhaustive root cause analysis for major or frequent events.
  • Retain fraud savings, fraud losses, recoveries and avoided loss as outcome measures, expand metrics to include gross fraud loss, net fraud loss, recovery rate, loss rate by channel/product, fraud savings, alert productivity, detection rate, false positive rate, remediation closure of CBUAE mandate, customer impact and training effectiveness.
  • Replace purely activity-based metrics with a balanced scorecard covering risk outcome, control effectiveness, regulatory delivery, system performance, customer protection and fraud risk culture.

Strategy, Policy, Framework and Governance

  • Define, maintain and periodically refresh the Group Fraud Risk Management Strategy, Policy, Standards, Operating Model and Framework. Define and develop an operating model to best support process efficiencies and effectiveness in FRM.
  • Implement consistent minimum fraud risk standards across ADIB Group, applying the stricter standard where Group standards and local regulatory requirements differ, subject to local legal and regulatory constraints.
  • Develop and operate a risk-based fraud risk assessment methodology covering products, channels, processes, systems, vendors, outsourcing, new initiatives, material process changes and emerging typologies.
  • Coordinate regulatory gap assessments, implementation plans, evidence packs, issue closure, regulatory readiness, supervisory responses and Board/Senior Management reporting for FRM-owned obligations and cross-functional dependencies.
  • Operate effective fraud governance through the FRM Committee or equivalent forum, including agenda discipline, decisions, action tracking, escalation and reporting to MRC/BRC where required.
  • Perform annual Group Fraud Risk Macro Assessment and periodic thematic assessments, using incidents, losses, RCSA, audit findings, complaints, external typologies, system performance, regulatory developments etc. to assess program maturity.

Process Management And Control Oversight

  • Challenge and oversee standardization, automation and process redesign to ensure fraud controls remain effective, customer-sensitive and aligned to risk appetite.
  • Develop and maintain FRM capabilities, skills and infrastructure that comply with both internal policies and external regulations.
  • Define escalation thresholds to ensure material control weaknesses, repeat incidents, issues and regulatory dependencies are escalated through relevant governance forums.
  • Communicate and escalate to Senior Management on gaps and progress of gaps closures.
  • Support the implementation of the FRM Policy/Framework and monitor the fraud metrics to identify potential control weaknesses.
  • Review processes to identify fraud risks and deliver desired client experience across all channels/products.
  • Collaborate with key stake

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