Fraud Consultant
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Job Description
JOB TITLE: Fraud Consultant
TERM: 12 months
CLIENT LOCATION: SNB Jeddah head office AlBaghdadiyah AlGharbiyah Jeddah 22233 Saudi Arabia
RELEVANT EXPERIENCE: 1012 years of experience in fraud
MANDATORY REQUIREMENTS: Worked in a bank and has a good understanding of fraud systems. Refer to knowledge and skills section of the JD
PURPOSE OF JOB:
Fraud Consultant
TASKS
Core Responsibilities and Accountabilities
- Provide analytics support to optimize fraud rates while keeping authorization rates at a satisfactory level
- Be the interface between Mastercard and client fraud team and setup governance
- Ensure fraud rule tracking and enhancing to improve False Positive and Account Detection rates
- Assess fraud alerts
- Improve fraud reporting to enhance Decision Intelligence capabilities
- Enhance fraud reporting to fraud and loss database (FLD) to enhance NFS capabilities
- Enhance fraud management reports
- Understanding of SNB fraud monitoring systems to identify suspicious patterns in transactions and accounts.
- Recognize transactions that have been compromised at different parts of the transaction lifecycle.
- Recognize fraud patterns such as counterfeit lost and stolen manipulation of cardholders relay and BIN attacks.
- Identify 3 types of fraud detection: rulesbased fraud detection; profilebased fraud detection; AI based fraud detection.
- Identify best practices when responding to suspected fraud.
- Monitor and work the approved alerts and follow up open respective cases.
- Communicate with FMaS team to tag alerted txns (ESS or Issuers rules) with unreported fraud data/unworked alerts
- Uploading updated white and blacklists on case management system
- Maintain accurate fraud case records track financial impact and correctly document findings.
- Describe Mastercard fraud reporting requirements.
- Categorize fraud types reported to the Fraud and Loss Database.
- Apply the criteria for fraud case prioritization.
- Support in minimizing transactional fraud losses by effective transaction monitoring global practices abiding the policies and procedures of Fraud monitoring Unit
- Assist in implementing effective Fraud Risk Management Framework
- Ensure effective on job skill transfer and share knowledge of monitoring systems to the respective team
- Periodic catch up feedback and training to the team on latest fraud trends
- Monitor approval rates and decline rates analyze decline rates to improve auth rates
- Provide MIS to management with respect to portfolio wide fraud detection performance & reporting
Knowledge and Experience
- 1012 years of experience in Fraud
SKILLS
- Good understanding of Falcon system
- Good understanding of Mastercard NFS
- Good understanding of Mastercard DSA solution
- Good understanding of Group IB
- Ability to develop and implement Fraud rules while ensuring positive business performance and minimal falsepositive rates
- Worked in a bank and has a good understanding of fraud systems.
Employment Type
Full Time
