Senior Manager, Card Fraud Risk at I&M Bank

Purpose:

• The role is responsible for ensuring efficient management of Card Fraud at the Group Shared Service Center. This will be through continuously monitoring, analyzing, and implementing fraud controls in line with the Bank’s policies, regulator’s guidelines and Card Payment Schemes rules and regulations.

Primary Responsibilities:

• Utilize fraud tools, systems, and technologies to monitor transactions, customer behaviour, and other data sources in real-time.
• Oversee daily monitoring of all card operation and transactions activities against the business set rules and risk controls on transactions Limits, Values, Frequencies, Oversee account management and other operational parameters, to identify patterns, trends, and potential fraud risks.
• Identify potential fraud indicators and anomalies that may signify fraudulent activities.
• Prepare regular reports on fraud monitoring results, trends, and key performance indicators for management and relevant stakeholders.
• Conduct investigation of suspected fraud cases, providing data and analysis to support the investigation process.
• Conduct regular risk assessments to identify new fraud trends and potential vulnerabilities in the organization's processes and systems.
• Collaborate with Card business and ICT teams to develop and optimize fraud detection models and rules.
• Receive and review all card disputes relating to fraud and engaging appropriate stakeholders and schemes to investigate the reported cases and action appropriately.
• Conduct daily tracking of all suspicious and fraudulent transactions processed and launched through various card schemes on both issuing and acquiring business segments to ensure proper investigations and successful closure.
• Launch fraudulent transaction claims with Insurance Agents and follow-up to ensure value is received for the reported cases.
• Identify  risk exceptions violating the set business and operational rules and following up the same with respective operational units for resolution especially on transactions monitoring violations and against account activity performance thresholds
• Conduct scheduled review of individual Ecommerce merchants’ performance and appropriate categorization to ensure proper risk controls are implemented where red alerts are identified.
• Act as the Central point of contact by Bank Monitoring team, Card schemes, Statutory Regulators, Banks, Security Agents and other stakeholders on all matters related to card disputes, frauds and risk management issues.

Person Specifications:

• A Bachelor’s degree in a Business-related, Data Science, or a related field. A master's degree is a an added advantage.
• At least 5 years' experience  in fraud risk monitoring, fraud detection, or a similar role, preferably in the financial services industry.
• Knowledge of Card Scheme guidelines regulations and industry best practices related to Card Operations.
• Knowledge of relevant regulations and industry best practices related to fraud risk management.
• Familiarity with fraud detection tools, data analytics software, and risk assessment methodologies.
• Strong analytical skills with the ability to interpret complex data and identify fraudulent patterns.
• Detail-oriented with a focus on accuracy in data analysis and reporting.
• Effective communication skills to collaborate with different teams and present findings to stakeholders.
• Ability to work independently, prioritize tasks, and meet deadlines in a fast-paced environment.