Fraud Analyst

Fraud Analyst

Location: Dubai, AE
- POSITION PURPOSE:
Identification of potential avenues of fraud within/outside the organisation and the areas of functioning, implementation of fraud tools to prevent/ detect fraudulent activity and to incorporate the regulatory requirements on a timely basis.

B. ESSENTIAL FUNCTIONS AND BASIC DUTIES:

Perform extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions. Assist Risk & Fraud Prevention Manager in the development and implementation of preventive and detective controls against fraud. Analyse areas of potential risk to the assets, earning capacity or success of the organisation Analyse new legislations, business or financial data to determine impact on risk exposure. Assist in implementing Fraud Risk Management Programmes using data extraction, data analytics, Fraud Risk processes, tools, policies, standards, management reporting, and procedures Monitor Business Indicators Develop and implement fraud rules that generate alerts to monitor transactions closely and report any unusual/suspicious activity to the appropriate stakeholders. To identify potential avenues of fraud within/outside the organisation and the areas of functioning Implement tools to prevent/ detect fraudulent activities and incorporate regulatory requirements on a timely basis Ensure close monitoring of fraud alerts, avoid fraud losses and ensure that follow-up actions are taken to mitigate future losses Review transaction monitoring rules regularly, adjust rule parameters according to the quality of alerts being generated and compare results. Present the results of rule amendment to Manager – Risk & Fraud Prevention. C onduct testing related activities for the newly implemented fraud rules. Identify any transactional abnormalities and conduct appropriate investigations to understand the extent of suspicious activity, and ways to curb losses and prevent similar occurrences in the future. Perform investigations along with Internal Audit regarding actual and suspected fraud activities and share appropriate resolutions to the relevant stakeholders. To develop procedures and monitoring mechanisms for handling suspicious transactions To prepare and analyse internal and external fraud loss data reporting to monitor risk management activities associated with significant losses. Ensure the effectiveness of anti-fraud programmes through fraud risk assessments carried out jointly with the Internal Audit team. Effectively communicate emerging and/or changing risk and related control opportunities and enhancements to Manager Risk & Fraud Prevention Provide training on fraud prevention, knowledge and awareness Maintain awareness of key process changes, system changes, organisation or governance structure, and key outsourcing arrangements/vendor exposure and how they impact operational risk management. Play an active role in the development and implementation of fraud risk monitoring processes, tools, policies, standards and procedures in alignment with the Fraud Prevention Programmes Ad hoc assignments as required by the immediate line of authority

C. WHAT WE ARE LOOKING FOR:

Bachelor's degree in business, finance, accounting, or a related field. Minimum of 1-3 years of experience in the banking/finance industry, with at least 1 year of direct experience in fraud monitoring. Strong knowledge of fraud detection systems and tools, especially in a 24/7 real-time environment. Excellent analytical skills with the ability to identify unusual transaction patterns or behavior. Ability to handle high-pressure situations and respond swiftly to potential fraud alerts. * Strong English and Arabic communication skills.