Fraud Consultant

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.