VP Card  & Digital Fraud Mitigation Strategy First Abu Dhabi Bank

VP Card  & Digital Fraud Mitigation Strategy at First Abu Dhabi Bank is responsible to conduct in-depth research on both local and international best practices concerning fraud strategies, particularly focusing on high-risk bank products, channels, and services, including Cards (Credit & Debit) & Digital Frauds, including both Retail & Corporate. The Fraud Strategy Manager will work collaboratively with various bank business departments to create and implement effective fraud strategies as well as leading focussed fraud risk assessments, with specific focus on cards & digital frauds including both Retail & Corporate. The objective is to identify fraud risks to ensure that controls are adequately embedded into existing products while working with the business to integrate controls during the design and development phases of new products, services and channels, in alignment with the bank’s fraud risk appetite.

Responsibilities of VP Card  & Digital Fraud Mitigation Strategy

Strategic Contribution

  • Ensure effective cascading of the functional strategy on Cards (Credit & Debit) & Digital Frauds, including both Retail & Corporate, into department business plans to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

Budgeting and Financial Performance

  • Monitor the financial performance of a given area of activity versus budgets and ensure all activities are carried out in line with the approved guidelines while promptly reporting on any variances to management.

Policies, Systems, Processes & Procedures

  • Provide inputs and implement policies, systems and procedure for the assigned team so that all relevant procedural/legislative requirements, fulfilled while delivering a quality, cost-effective service.

Continuous Improvement Digital Fraud Mitigation Strategy

  • Participate in the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction including a specific focus on card and digital frauds, both Retail & Corporate.

Reporting Digital Fraud Mitigation Strategy

  • Prepare sectional statements and reports timely and accurately to meet FAB and department requirements, policies and quality standards.

Specific Accountabilities

  • Collaborate with multiple bank business departments to develop comprehensive fraud strategies tailored to specific channels, products, and services, including specific focus on card (Credit & Debit) and digital frauds, including both Retail & Corporate.
  • Engage with the business during the product or channel development phase.
  • Monitor the performance of fraud strategies to ensure they align with predetermined metrics and objectives.
  • Collaborate in creating fraud strategies for international operations, considering regional variations and challenges.
  • Act as subject matter experts on fraud strategy including specific focus on card and digital frauds.
  • Present comprehensive reports on fraud strategy performance and recommendations to senior management and other relevant stakeholders, including specific focus on card and digital frauds, including both Retail & Corporate.
  • Develop and maintain strong relationships with key stakeholders to ensure adoption and integration and execution of fraud strategies.
  • Stay up to date with industry trends, regulatory requirements, and emerging fraud threats to enhance the effectiveness of fraud strategies.
  • Participate in cross-functional projects and initiatives to contribute fraud strategy expertise as required.
  • Conduct extensive research on local and global best practices related to fraud strategies for various high-risk bank products.
  • Foster a culture of fraud awareness and compliance across the organization through collaboration and communication initiatives.
  • Provide well informed recommendations to the business on effective fraud mitigation strategies.
  • Regularly review and revise fraud strategies to ensure their continuous alignment with business objectives and risk-reward profile.

Requirements of VP Card  & Digital Fraud Mitigation Strategy

  • Bachelor’s degree in Business, Finance, Economics, Law or a related field.
  • ACFE certification preferred.
  • 10 years’ experience in fraud risk management, in the banking sector.
  • Minimum of 5 years’ experience in reviewing and developing fraud strategies for core banking products such as Cards, Transactional Banking, lending and/or Corporate products such as corporate finance, trade finance etc including specific focus on card and digital frauds.
  • Experience in the application of technology to mitigate fraud risks.

Skills and Knowledge Desired

  • In depth knowledge of banking products, channels, services and associated fraud risks.
  • Analytical skills and ability to translate data insights into actionable fraud strategies.
  • Strong, communication and presentation skills to engage and influence diverse stakeholders effectively.
  • Understanding of industry regulations and compliance requirements related to fraud risk management.
  • Strategic thinking and the ability to align fraud strategies with business objectives and risk appetite.

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