Senior Associate, Enterprise Fraud Risk at I&M Bank

Job Purpose:

• This role will involve supporting the implementation of strategies and procedures to monitor and mitigate fraud across the enterprise, particularly focusing on the prevention, detection and investigation of fraud across all bank channels including digital, card, merchant, and alternative banking channels. The associate will work under the guidance of the Manager fraud risk management.

Key Responsibilities:

• Monitor all transactions for signs of fraudulent activity, maintaining and operating fraud detection systems and tools. 
• Collect and analyze data related to all transactions to identify potential fraud risks and interpret data patterns and trends.
• Prepare initial reports on suspicious activities for further investigation and maintain accurate records and documentation of fraud monitoring activities. 
• Identify and evaluate risks associated with card products, such as credit cards, debit cards, prepaid cards and ecommerce.
• Analyze trends and patterns in all channels’ usage to anticipate potential risks.
• Develop and update risk models to predict and manage fraud risks.
• Ensure card services comply with relevant laws, regulations, and standards (e.g., PCI-DSS for card security).
• Stay informed about regulatory changes and adapting risk management strategies accordingly.
• Work with compliance teams to prevent money laundering and other illegal activities through card transactions.
• Work collaboratively with other departments, such as IT and customer service, call centre, cards operations to gather information and enhance fraud monitoring processes.
• Participate in cross-functional meetings and discussions related to fraud risk.
• Adhere to fraud risk policies, procedures, and card scheme requirements.
• Assist in the technical aspects of fraud detection tools, including basic troubleshooting.
• Stay abreast of technological advancements in fraud detection and risk management.
• Assist in the response to detected fraud incidents under the direction of Senior team members.
• Develop educational materials and programs to inform customers about safe card usage and fraud prevention.
• Provide support and guidance to customers affected by fraud or security breaches.

Academic Qualifications:

• Bachelor’s degree in relevant fields such as Finance, Criminal Justice, or Information Technology.

Work Experience:

• At least three (3) years' experience working in risk management of a financial services/Fintech (preferred), payments or technology (growth) company.
• Professional / Technical Qualifications / Diplomas: 
• Certified Fraud Examiner (CFE), Professional Certified Investigator (PCI) or other similar qualifications.

Key Skills & Competencies:

• Demonstrated interest in fraud risk management, financial crime prevention, and payments. 
• Strong analytical capability with excellent attention to detail. 
• Understanding of banking operations is an added advantage. 
• Ability to learn quickly and consistently follow established processes and procedures. 
• Effective communication skills and a collaborative approach to teamwork. 
• High levels of integrity, professionalism, respect and confidentiality. 
• Proficiency in Information Technology, with the ability to work confidently with digital systems and tools.
• Basic understanding of fraud risk management, particularly in card and merchant transactions.