Anti-Fraud Risk, Governance & Compliance Consultant

6. Awareness & Culture

Risk Management (Fraud Risk)

Maintain and update the Fraud Risk Register in alignment with regulatory expectations

Conduct Fraud Risk Assessments (FRA) across systems, applications, and digital channels

Identify emerging fraud typologies (e.g., phishing, account takeover, card fraud, social engineering)

Perform root cause analysis and recommend control improvements

Track fraud risks, trends, and key risk indicators (KRIs)

Governance & Frameworks

Support the implementation and maintenance of the Anti-Fraud Framework

Establish and maintain fraud-related policies, procedures, and governance structures

Ensure proper fraud incident escalation and reporting processes

Promote and manage whistleblowing and fraud reporting channels

Coordinate with internal stakeholders (Compliance, Risk, Legal, IT, Cybersecurity)

Compliance & Regulatory

Ensure compliance with regulatory requirements (e.g., SAMA Fraud Framework, AML guidelines)

Support internal and external audits and regulatory inspections

Prepare and submit fraud reports to senior management and regulators (if required)

Monitor adherence to internal fraud risk policies and standards

Controls & Monitoring Oversight (High-Level)

Recommend preventive and detective controls (e.g., MFA, transaction limits, behavioral analytics)

Validate effectiveness of fraud controls and monitoring systems

Oversee fraud monitoring activities and ensure proper case handling

Reporting & Performance Management

Prepare fraud dashboards and MIS reports

Track KPIs such as:

• Fraud loss ratio
• Detection rate
• False positives
• Investigation turnaround time
• Conduct fraud awareness programs for employees and customers
• Promote fraud risk awareness and accountability across the organization
  
  

Requirements

Experience Level: Mid-Senior (5-8 years)

Core Focus: Fraud Risk + Governance + Compliance

Backgrounds: Risk / Audit / Compliance / Financial Crime

5-8 years of experience in Fraud Risk Management, Risk & Compliance, Internal Audit, or Financial Crime Prevention

Proven experience in conducting Fraud Risk Assessments (FRA) across digital channels, payment systems, or banking operations

Strong understanding of fraud typologies such as:

Phishing

Account takeover

Card fraud

Social engineering

Internal fraud

Solid knowledge of:

Fraud Risk Management frameworks

Governance, Risk & Compliance (GRC) principles

Regulatory requirements (e.g., SAMA Fraud Framework, AML guidelines)

Experience in:

Fraud risk identification, assessment, and mitigation

Root cause analysis and control improvement recommendations

Incident escalation and fraud case governance

Familiarity with fraud controls such as:

Multi-Factor Authentication (MFA)

Transaction limits

Behavioral analytics (conceptual understanding)

Experience in monitoring fraud risks and tracking:

Fraud KPIs / KRIs (e.g., fraud loss ratio, detection rate, false positives)

Experience working with cross-functional teams:

Compliance

Risk Management

Cybersecurity

IT

Legal

Experience in audit and regulatory support:

• Internal and external audits
• Regulatory inspections and reporting
• Strong reporting skills:
• Preparing fraud risk reports and management dashboards (MIS)