Head Fraud Risk Management

About the role

Raqami Bank is looking for an experienced Head of Fraud Risk Management to lead fraud prevention and detection across all digital channels. The role sets the bank's fraud risk strategy, runs real-time fraud detection and response, designs fraud controls into customer journeys and ensures compliance with SBP's digital fraud prevention requirements.

Key responsibilities

• Set the bank's fraud risk strategy and risk appetite, and own the Digital Fraud Prevention Policy and fraud risk framework for Board approval.
• Build and head the Fraud Risk Management Department, covering real-time monitoring, investigations and fraud analytics.
• Own the Enterprise Fraud Management (EFM) solution, with real-time monitoring of the mobile app, RAAST, IBFT, cards and wallets, risk-based step-up authentication and automatic suspension.
• Approve fraud detection rules, risk scores, limits and the account, channel and device blocking policy.
• Deploy behavioural profiling, device fingerprinting and device binding controls, and block and report fraudulent devices to PTA.
• Design fraud controls into customer journeys with Digital Products and IT, including limits, cooling-off periods, beneficiary and device-change controls and NADRA biometric checks.
• Detect and prevent onboarding fraud, account takeover, social engineering, SIM-swap and mule accounts.
• Ensure FTDH disputes, fund blocking, investigations and reversals meet SBP timelines, and run 24/7 fraud operations including instant channel blocking.
• Handle major and high-value fraud cases personally, lead investigations and coordinate with FIA, NCCIA and other law enforcement agencies.
• Manage card fraud risk, including Visa, Mastercard and PayPak schemes and chargebacks.
• Report fraud KPIs and KRIs to senior management, quarterly summaries to the Board Risk Committee and an annual fraud review to the Board.
• Supply fraud trend content for customer awareness campaigns and deliver fraud training to staff and contact centre agents.
• Decide customer compensation for fraud losses in line with SBP's liability framework, manage the fraud function's budget and vendor relationships, and coordinate with Information Security on cyber-enabled fraud.

Required profile

• Minimum 15 years of relevant experience in banking or fintech, with at least 5 years heading a fraud risk management function.
• Hands-on experience in card fraud prevention, detection and investigation (issuing and acquiring), including scheme fraud programs and chargebacks.
• Experience presenting to Board committees and implementing fraud systems.
• Experience at a digital bank, EMI or fintech is a strong advantage.
• Master's degree in Business Administration, Finance, IT, Computer Science or Data Science.
• Certified Fraud Examiner (CFE) preferred; CAMS, CISA or CRISC is an added advantage.

Required skills

• Strong experience in real-time fraud monitoring, EFM rule design, digital channel fraud, FTDH dispute handling and SBP fraud reporting.
• Added advantage: hands-on experience with BPC SmartVista, FICO Falcon, Clari5, NICE Actimize or Feedzai.
• Skills listed include fraud strategy and framework design, real-time monitoring and rule tuning, digital and card fraud investigations, fraud data analytics and machine learning models, device and behavioural analytics, and board and regulator engagement.