Fraud Transaction Monitoring Officer - Fraud Risk Management

JOB SUMMERY:

• Monitor and identify unusual activities on customer account, analyze usage pattern, follow-up with customers to verify usage and initiate recovery.
• To assist and educate customers proactively in using their account in the event of attempted fraud.
• To contact customers, arrange for account / MIB/RIB blocking, card blocking & replacements, and dispute claims.
• To assist the team in conducting sampling on retail credit applications.
• To protect the business from risk and exposure to losses, specifically against fraud.
• Suggest policy related recommendations in view of direct exposure to portfolio behavior in the business

Duties and Responsibilities:

• To handle daily transaction monitoring activity on system created alerts and reports generated by the unit and take appropriate action.
• To check and respond to transaction verification faxes/emails from member banks.
• Assist the manager in review of sample applications & liaise with other member banks to verify authenticity of non-account holders’ details.
• Identify possible points of compromise by analyzing transaction history of fraud cases and taking preventive steps.
• Daily review of cards marked on temporary block due to suspected transactions and card replacements.
• Assist in fraud investigations (internally & externally).
• Calling and follow-up with customers, recording review details in the system.
• To assist customers in completing dispute forms and obtaining relevant documents.
• Liaise with other departments to obtain physical documents which are crucial for fraud investigations.
• Handling of replacements of suspected compromised cards.
• Co-ordinate with other departments, i.e. collections, credit initiation and Call Centre.
• To initiate recovery process with merchants and acquirers on fraud losses.
• Maintain details of fraud losses and files of the unit. Compile and Maintain daily Fraud Statistics.
• To assist the Manager in conducting UATs for the unit.
• To assist the Manager in creating daily and monthly MIS presentation for the management showing cases investigated and fraud trends.
• Maintain the files of the unit.
• Represent the FRM with the business units.
• Interact and maintain relationships with other business units in fraud investigations.
• To assist in monitoring the team performance & productivity. • The jobholder is required to be on constant vigil. Suggest improvement & implement BMUAE Policy, procedures and staff codes of ethic

Qualifications and Experience

• Minimum of 2 years of experience in the area of transaction fraud monitoring or Call Centre.
• Bachelor’s degree
• Good written and oral communications skills (bilingual preferred.)
• Strong analytical skills
• Good PC / Ms Office skills
• Ability to work under pressure and multi-tasking

Must Have UAE Residency