Role Purpose

The Fraud Risk Manager is responsible for establishing, owning, and continuously enhancing the Bank’s Fraud Risk Management Framework across digital channels, cards, payments, and online trading activities. The role ensures robust fraud prevention, detection, response, and recovery capabilities, aligned with Central Bank of the UAE (CBUAE) regulatory expectations, including Operational Risk, Consumer Protection, Retail Payment Services & Card Schemes, Payment Token Services, and AML/CFT requirements.

The role has a strong focus on operational resilience, technology-enabled fraud, strong customer authentication, customer protection, and timely regulatory engagement and reporting.

Key Responsibilities

• Own and maintain the Bank-wide Anti-Fraud Framework.
• Design and oversee fraud prevention and detection controls across cards, payments, and digital channels.
• Ensure strong customer authentication and customer protection measures.
• Manage card-present and card-not-present fraud risks, disputes, and chargebacks.
• Lead fraud incident response, investigation, remediation, and regulatory reporting.
• Integrate fraud scenarios into operational resilience and business continuity testing.
• Oversee fraud-related third-party and vendor management, including Network International.
• Define and monitor fraud KRIs, KPIs, and management reporting.
• Deliver staff training and customer fraud awareness initiatives.

Fraud Governance, Policy & Framework Ownership

• Design, maintain, and enhance the Bank-wide Anti-Fraud Framework covering prevention, detection, investigation, response, and recovery, in line with CBUAE regulatory standards and supervisory expectations.
• Define fraud risk appetite elements (where applicable), fraud risk assessments by product/channel, and minimum control standards.
• Own and maintain Board-approved fraud-related policies, standards, procedures, escalation paths, and reporting requirements.
• Maintain a comprehensive Fraud Incidents Register and ensure periodic reporting to senior management and governance committees.

Fraud Prevention & Detection Operations (Cards & Digital Transactions)

• Own the design, implementation, and ongoing tuning of fraud monitoring strategies, including rules, scorecards, velocity checks, behavioral indicators, and machine learning models.
• Establish governance over thresholds, model changes, and rule tuning, including documentation and approval processes.
• Ensure payment and digital transaction monitoring mechanisms effectively prevent, detect, block, and escalate suspicious or high-risk activities.
• Coordinate closely with IT and Cyber Security to ensure effective system controls, logging, and monitoring.

Strong Customer Authentication & Customer Protection

• Coordinate closely with IT and Cyber Security team for implementation of strong customer authentication and step-up controls for sensitive customer actions, in line with CBUAE guidance and notices.
• Ensure timely customer alerts, transparent communication, complaint handling in coordination with compliance team, and reimbursement governance in line with Consumer Protection Standards.

Card & Payments Fraud Management

• Own fraud risk management for card-present and card-not-present transactions, authorization fraud, merchant disputes, chargebacks and emerging fraud typologies.
• Lead fraud performance management, including monitoring fraud rates, approval/decline quality, false positives, and customer impact metrics in coordination with Network Internal performing fraud monitoring as BAU process.
• Ensure detailed reports pertaining to merchant visibility, audit trails, access logging, and abnormal activity detection from Network International for fraud related investigation.

Operational Resilience & Scenario Testing

• Integrate fraud and cyber-enabled fraud scenarios into the Bank’s operational resilience, business continuity, and crisis management frameworks.
• Ensure severe-but-plausible scenario testing for digital channels, payment systems, cards, instant payments, and critical third-party dependencies.
• Support incident command structures during major fraud or cyber-fraud events.

Fraud Incident Response, Investigation & Remediation

• Lead fraud incident triage and response, ensuring clear SLAs for containment actions such as blocks, holds, step-up authentication, card replacement, and beneficiary controls.
• Oversee investigations and coordinate with Compliance/MLRO on STR/SAR filings and with Legal on law enforcement engagement.
• Ensure root cause analysis, corrective and preventive action plans, control enhancements, and lessons learned are completed for all material incidents.

Management/Regulatory Reporting and External Engagement

• Define and maintain fraud KRIs and KPIs, dashboards, and management information for senior management and committees.
• Monitor model performance, fraud losses, near misses, and emerging threats, and translate threat intelligence into effective controls.
• To ensure the process for recording, tracking, and reporting fraud incidents to relevant authorities, including CBUAE, UAE FIU, and law enforcement where applicable in coordination with compliance department.
• Ensure timely notification of material incidents to CBUAE and prompt responses to supervisory requests.
• Maintain evidence-ready fraud case packs, including timelines, root cause, customer impact, remediation, and control improvements.

Third-Party Management

• Act as relationship owner for Network International (NI) along with products team on fraud monitoring, rule tuning, case management, authorization controls, dispute and chargeback workflows, MIS, and service performance.
• Manage fraud-relevant third parties (e.g., SMS gateways, device intelligence, biometric providers, payment gateways, acquirers) including risk assessments, SLA oversight, and audit support.

Training, Awareness & Culture

• Design and deliver anti-fraud training programs for staff and front-line teams.
• Lead regular customer fraud awareness and education campaigns covering scams, safe banking practices, and dispute channels.
• Promote a strong risk-aware culture and reinforce first-line accountability for fraud controls.

Minimum Requirements

• 8–10 years of experience in fraud risk management within banking, payments, or financial services.
• Strong working knowledge of CBUAE Operational Risk Management Standards, Consumer Protection Standards, Retail Payment Services & Card Schemes regulations and AML/CFT reporting obligations.
• Experience with fraud monitoring platforms, rule engines configuration in coordination with model management team, device fingerprinting, behavioral biometrics, 3-D Secure and risk-based authentication.
• Demonstrated ability to work effectively with IT, Cyber Security, Compliance/MLRO, Cards & Payments, Digital Banking, Operations, Legal, Internal Audit, and external vendors.