VP, Compliance - Fraud Risk

KEY ACCOUNTABILITIES: GovernanceIn conjunction with, and as required by the Country Head of Compliance, manage the comprehensive Fraud reporting framework for the Country.Provide regular reports to Country Head of Compliance on location’s risk profile with mitigation plans. Assist the Country Head of Compliance & Committees in the taking appropriate decisions to manage the risk profile within the set appetite.Strategy Development and Implementation Assist the Country Head of Compliance in formulation, implementation and delivery of the FAB Franchise in KSA’s Fraud risk strategy in line with the vision, mission, values and priorities.Maintain, execute and continuously improve FAB Franchise in KSA’s Fraud management strategy, frameworks, limits, and tolerances to assess and mitigate the risk exposures, and to ensure the region operates within its pre-defined risk appetite, aligned to the group’s risk & business strategy.Policies, Systems, Processes & ProceduresAssist in development and effective implementation of Fraud policies, procedures and controls covering all areas of assigned FAB Franchise in KSA so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service.Manage the review and assessment of the FAB Franchise in KSA to provide a view on the level of exposure relative to risk appetite and advice on risk mitigationAssist in development and implementation of Fraud monitoring, models and control systems and process in partnership with business heads to support risk-based decision-making.Ensure that the policies, procedures, models, processes, mitigation factors and plans are in alignment with the group risk mitigation and monitoring strategies.Fraud Monitoring Oversee the branch’s Fraud Risk Management; reporting Fraud risk profile, ratifying and recommending relevant Fraud Risk management actions and mitigation strategy. Roll-out the bank's policy re Fraud Risk Management in FAB Franchise in KSA; Review/approve local business policies and standard operating proceduresRoll-out the fraud framework for FAB KSA ensuring that fraud alerts and card monitoring is properly analysed, investigated and managed in line with local regulatory requirements Review/approve prevention controls in the local business operating environment. Review root cause analysis and corrective actions; monitor status of corrective actions incl. recovery across FAB Franchise in KSAAnalyse incidents and execute respective investigations incl. resolutions across FAB Franchise in KSA; define and implement corrective actions Prepare the reports for the submission to local regulators and attend to any queries raised related to Fraud by other authorities and /or banks as needed permissible under local rules and requirements. Monitor the periodical review of the products and processes and provide risk mitigation controls while ensuring the accurate identification of risk exposure in new products and services to ensure that risk implications are appropriately considered and mitigated. Ensure proper ongoing awareness is in place to both internal and external stakeholders on fraud related matters. Change ManagementParticipate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment which demand proactive action plansRelationship ManagementMaintain effective business relationships with all relevant external/internal entities (such as government authorities, other financial institutions, key stakeholders etc.) and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner. ReportingEnsure that all functional reports are prepared timely and accurately and meet location & Group requirements, policies and quality standardsQUALIFICATIONS & EXPERIENCE: Minimum QualificationBachelor’s degree in Finance or related discipline.Master’s degree in Business Administration or a related discipline is preferred.Professional Certification in the field of Fraud is preferred and encouraged as per local regulatory rules Minimum Experience8-15 years’ relevant experience in the banking sector with at least 3-4 years in similar positions of progressively increasing managerial responsibilities in the Operational & Fraud risk management function.