Fraud Consultant

JOB TITLE: Fraud Consultant

TERM: 12 months 

CLIENT LOCATION: SNB Jeddah head office, Al-Baghdadiyah Al-Gharbiyah, Jeddah 22233, Saudi Arabia

RELEVANT EXPERIENCE: 10-12 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: rules-based fraud detection; profile-based 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 Issuer's 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

• 10-12 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 false-positive rates
• Worked in a bank and has a good understanding of fraud systems.