Credit Cards Fraud Risk Consultant - Riyadh, KSA
ExperienceSenior (11-15 years)
Est. StartApril 30, 2024
Duration12 Month(s)
Leading payments firmLeading payments firm
On Site
Saudi ArabiaSaudi Arabia
Required Skills
Fraud Risk Management
Fraud Control
Project Overview

Our client a global payments firm is currently working with a leading bank in Riyadh, KSA. They are on the lookout for an experienced Fraud Risk Consultant to join their team for a 12-month term. This role is designed for a professional with a deep understanding of Fraud Risk Management (FRM) and a solid track record in detecting, preventing, and responding to fraud within the banking sector. The successful candidate will play a vital role in strengthening the client's FRM capabilities, infrastructure, and ensuring swift action against fraud attacks.

Your Background

  • Experience and Qualifications:11-15 years of experience in Cards fraud detection and prevention, ideally within the banking sector.
  • Proficient in using fraud monitoring systems such as Falcon.
  • Capability in developing and writing fraud detection rules.
  • A good understanding of e-commerce CNP transactions and risk-based authentication methods.
  • Preferred backgrounds include experience in banking with a deep understanding of fraud systems.
  • The role demands a proactive and analytical approach, with a focus on continuous learning and adaptation to new fraud trends.


  1. Maintain vigilant monitoring of card transactions using various systems (Visa VRM, Mastercard Fraud Centre, Falcon Rule Expert/Case Manager System, VCAS) to align with current fraud trends
  2. Contribute to reducing transactional fraud losses by effectively monitoring transactions according to the Fraud Monitoring Unit's policies and procedures
  3. Help establish an effective Fraud Risk Management Framework
  4. Identify the need for tools and equipment to address the latest trends in industry fraud
  5. Regularly analyse card fraud transactions involving customer exposure and develop rules to mitigate customer fraud losses
  6. Adjust system settings to enhance fraud detection and control transaction blocking
  7. Promptly escalate suspicious fraud cases related to cyber security and major system attacks
  8. Collaborate closely with associations to swiftly adopt best practices
  9. Facilitate skill transfer and knowledge sharing about monitoring systems (Visa VRM, Mastercard Fraud Centre, Falcon Rule Expert/Case Manager System, VCAS) within the team
  10. Conduct periodic meetings, provide feedback, and train the team on the latest fraud trends
  11. Aid in the implementation and updating of rules in various monitoring systems
  12. Optimize rules performance in monitoring systems based on current customer spending patterns and fraud trends to minimize alerts and reduce false positives
  13. Manage a high volume of e-commerce CNP transactions and adjust risk-based authentication in a 3D secure environment to enhance customer experience and reduce fraud losses
  14. Offer guidance on fraud investigation through trend analysis, CPP identification, and management of parameters and thresholds
  15. Review and act on high-value fraud cases and prepare comprehensive reports
  16. Monitor and analyse approval and decline rates to improve authorization rates
  17. Collaborate with client teams to ensure all fraud cases are reported to the relevant card schemes to increase fraud risk scores
  18. Begin the recovery process with merchants or acquirers for reported cases as part of pre-chargeback efforts
  19. Provide management with MIS reports on portfolio-wide fraud detection and performance


  • The ideal candidate should possess a strong foundation in Fraud risk management principles and practices, with qualifications such as MBA in Finance being highly advantageous

This is 12-month contractual opportunity. The selected consultant would be required to relocate to Riyadh.

This role offers the unique opportunity to significantly contribute to the enhancement of Cards fraud risk management practices within a leading firm in Riyadh. You will have the chance to apply your expertise in a challenging environment, working closely with senior stakeholders to protect the organization from the financial and reputational success in fraud management, we encourage you to apply for this exciting opportunity associated with fraud Risk control.