Fraud Control Manager

1 week ago

Manama, Manama, Bahrain Non-disclosed Full time

The Fraud Manager is responsible for monitoring the merchant's performance and patterns, initiating investigations when there is doubt, mitigating counterfeit and fraud, and keeping the fraud ratio within the card schemes' rate at the acquirer and merchant level. They are responsible for documenting all investigative activities, analyzing data to detect irregularities according to regulatory compliance procedures, and applying corrective actions.

Responsibilities:
  1. Supervise and control the activities of the Merchant Services and Risk team.
  2. Review daily fraud reports and take necessary actions.
  3. Coordinate and follow up on the investigation process of daily merchant risk reports and alerts generated from monitoring systems with the department team.
  4. Interact closely with the Chargeback team to ensure resolution of disputes.
  5. Prepare comprehensive system risk parameters, reviewing them periodically in conjunction with the acquiring business managers.
  6. Implement proactive measures and procedures when merchant fraud occurs, including taking corrective actions and reviewing card scheme alerts and letters.
  7. Stay informed about the latest regulations from card schemes and local authorities, and ensure this information is communicated to staff and business managers.
  8. Report daily fraud ratios to the Acting Head of Operations and highlight risky merchants.
  9. Work closely with law enforcement agencies and attend court proceedings if necessary.
  10. Prevent financial losses to the organization.
  11. Assist local issuer banks in ongoing fraud investigations.
  12. Prepare monthly and annual statistics reports.
  13. Ensure fraud ratios remain controlled at the merchant and acquirer levels.
  14. Train merchants and develop courses for local banks.
  15. Perform any additional duties assigned by the direct manager.
Education/Certifications:
  • Bachelor's degree in finance, management, IT, or related fields.
Experience:
  • 3-5 years of risk management experience in the payment industry or related fields.
Knowledge/Skills/Attributes:
  • Excellent written and spoken Arabic and English skills.
  • Strong team leadership abilities.
  • Good interpersonal and communication skills.
  • Methodical approach to workload organization.
  • Good reporting and report preparation skills.
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