Head of Fraud Governance

2 weeks ago

Riyadh, Ar Riyāḑ, Saudi Arabia ac1fc038-aba0-40c8-85fc-84c216586a92 Full time $150,000 - $250,000 per year

Job Title:
Head of Fraud Governance & Compliance

Division:
Fraud

Location:
Riyadh

Working Hours:
8:00 AM to 5:00 PM (Sunday to Thursday)

Job Purpose:

To lead and oversee the bank's fraud governance framework and compliance function, ensuring robust risk mitigation, regulatory compliance, and the effective prevention, detection, and response to fraud across all operations.

Key Responsibilities:

  • Develop and oversee the bank's fraud risk management framework, policies, standards and strategy to ensure effective prevention, detection, and response to fraud as per SAMA Counter Fraud framework.
  • Establish and monitor fraud risk metrics, key risk indicators (KRIs), Key performance Indicators (KPIs), and risk appetite/tolerance, ensuring alignment with business objectives.
  • Ensure compliance with regulatory requirements, internal policies, and industry standards related to fraud management.
  • Establish tracking mechanism for all strategic objectives are achieved as per timelines.
  • Managing the counter fraud governance committee and any other internal governance committee, Provide timely, qualitative, and quantitative reporting on fraud events, trends, and losses to senior management and relevant committees.
  • Establish and maintain quality assurance mechanism to ensure compliance with counter fraud policy and standards.
  • Provide strategic leadership on fraud prevention and compliance risk matters.
  • Oversee the design and implementation of fraud detection, monitoring, and investigation programs.
  • Drive the implementation of Counter-fraud technologies, analytics, and innovative solutions to enhance fraud detection and prevention capabilities.
  • Ensure timely investigation of fraud incidents and recommend corrective actions.
  • Managing the Internal Audit or any external engagement with alignment and support to internal departments, manage external audits and reviews

Qualifications and Experience:

  • Bachelor's degree in Risk Management, Finance, Law, or a related field (Master's preferred).
  • Professional certifications (e.g., CFE, CAMS, CFCS) preferred.
  • Around +10 years of experience in fraud risk management, governance, or related roles within banking or financial services
  • Strong knowledge of fraud detection tools, risk frameworks, and relevant banking regulations.

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