Regional Head of Fraud Risk Monitoring

JOB DESCRIPTION

Summary/ Objective

The Regional Fraud and Transaction Monitoring Head is responsible for overseeing and managing the fraud and transaction monitoring activities for their region. The main objective of this role is to ensure the timely detection and prevention of fraudulent activities, as well as to minimize losses associated with such activities.

The Regional Fraud and Transaction Monitoring Head is responsible for conducting and managing the Transaction Monitoring & Fraud Prevention unit. Responsible for setting the team’s goals and objectives and ensuring that they are met within the established timelines. Additionally, the Regional Fraud and Transaction Monitoring Head is responsible for developing and implementing fraud prevention and mitigation strategies to minimize losses.

Key responsibilities of this role include monitoring and analyzing transaction data to identify potential fraudulent activities, investigating suspicious activities, and coordinating with law enforcement agencies as necessary. The Regional Fraud and Transaction Monitoring Head is also responsible for maintaining and updating fraud prevention policies and procedures, as well as conducting regular fraud risk assessments.

The Regional Fraud and Transaction Monitoring Head is expected to have a deep understanding of fraud detection and prevention techniques and technologies, as well as knowledge of the relevant local laws and regulations. They should also possess strong leadership skills, with the ability to manage and motivate a team of fraud analysts and investigators.

Regional Head of Fraud and Transactions Monitoring collaborates with other teams and stakeholders to develop and execute chargeback and fraud mitigation plans, reviews and takes action on reports generated by Risk Specialists and ensures the efficient maintenance of content monitoring systems. Role holder also expected to work with IT to minimize the risk of transaction errors and timeouts, establish a real-time transaction screening and enhance existing technologies for a more efficient and effective processes.

Essential Functions

• Any duties assigned by the line manager, and
• Developing and implementing fraud prevention strategies: The Regional Head of Fraud and Transactions Monitoring is responsible for developing and implementing effective fraud prevention strategies across the region. This may involve analyzing fraud trends, identifying potential fraud risks, and designing and implementing policies, procedures, and controls to mitigate those risks.
• Leading a team of fraud and transaction monitoring analysts: The Regional Head of Fraud and Transactions Monitoring is responsible for leading a team of fraud and transaction monitoring analysts. This includes recruiting, training, and managing staff, as well as providing guidance and support to help them perform their duties effectively.
• Conducting fraud investigations: The Regional Head of Fraud and Transactions Monitoring is responsible for conducting investigations into suspected fraud cases. This may involve gathering and analyzing data, interviewing witnesses, and working with law enforcement and other stakeholders to identify and prosecute fraudsters.
• Monitoring transactions and identifying suspicious activity: The Regional Head of Fraud and Transactions Monitoring is responsible for monitoring transactions across the region to identify suspicious activity. This may involve reviewing transaction data, conducting analysis, and leveraging fraud detection tools to identify potential fraud cases.
• Reporting on fraud and transaction monitoring activities & performance: The Regional Head of Fraud and Transactions Monitoring is responsible for preparing and presenting reports on fraud and transaction monitoring activities to senior management and other stakeholders. These reports may include information on fraud trends, key risk areas, and recommendations for improving fraud prevention strategies.
• Maintain consistent reporting reflecting the performance of the portfolio

 Key Performance Indicators (KPIs)

• Work with Risk Analyst to formulate and execute chargeback/fraud mitigation plans for increasing CB Merchants
• Approval of Transaction Limit request
• Action to be review and taken on Risk Specialist reports (CB, Fraud, Suspicious pattern, request to freeze)
• Efficient content monitoring system maintenance: regular review process
• World Check Alerts action and maintenance: regular review process
• Work with Stakeholders (Head of Risk and IT) in view of designing a new Risk Engine (in-house developed or outsourced)
• Requirement for Chargeback Representment System (Internal or outsourced)
• Work with IT to reduce the risk of timeout and processing errors transactions
• Real-time transaction Screen (Raise project requirement)
• Operation Risk Process: Approval for User Access right & carry out regular audit
• Setting up of a monthly Risk committee to brainstorm and about action point for Risk and Onboarding
• Approval of High-Risk Merchant/Enhance Due Diligence merchants to be onboarded
• New Underwriting Scoring model to be tested and rolled out & regular review the way UW is being conducted.
• Chargeback Management team: manage, review process
• Risk assessment for new banks Partners and Enterprise merchant

 Knowledge, Skills & Abilities

• 5+ years of experience with credit card or fraud and/or underwriting ecommerce merchants
• Strong analytical skills – must be able to interpret complex data, draw meaningful conclusions and make holistic business recommendations
• Experience with data manipulation is a clear plus
• Ability to play a key role in a fast-growing company, contributing actively to shaping its development
• Ability to manage a team and supervise junior colleagues
• Ability to approach problems in a quantitative and qualitative manner
• Ready to work extended schedules and deliver on tight deadlines
• Professional experience in a multicultural and/or international business environment (international experience in Europe or US is a definite plus)
• University degree in IT or Business Technology field
• English required

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