AVP - Fraud Data Analytics

Company Description

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management

In the recent years, the Bank has achieved significant milestones which includes being named as one of the world's best banks by Forbes ME (2022) and was awarded UAE's SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans

Being on a transformational journey, in partnership with Honeywell, RAKBANK has also taken steps towards sustainability by reducing its overall energy consumption

We are a diverse team comprising of over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition and security for the future

In line with our strategy, a major part of our transformation journey is to future proof our bank and establish ourselves as a ‘Digital bank with human touch’, for our customers

So, join us in co-creating the future of RAKBANK!

Job Description

We are seeking an experienced and analytical Assistant Vice President (AVP) of Fraud Data Analytics to join our team in Dubai, United Arab Emirates. In this key role, you will spearhead our fraud detection and prevention efforts using advanced data analytics techniques.

Job Propose:

The role involves oversight and assessment of  fraud risks at RAKBANK by developing, implementing, and maintaining fraud detection systems and analytics processes. Collaborate with IT, compliance, risk management, and operations to ensure system integrity and security. Analyze large datasets to identify fraudulent behavior and design automated systems for real-time monitoring. Stay updated on fraud trends and technologies to enhance fraud prevention strategies. This position involves excellent problem-solving skills, a high level of integrity, and the ability to communicate complex technical information to non-technical stakeholders.

What you will do:

Strategic Responsibilities

• Developing and Implementing Fraud Prevention Strategies: This involves creating comprehensive strategies to prevent fraud, including the use of advanced analytics, machine learning models, and real-time monitoring systems to improve the bank's defences.
• Regulatory Compliance and Risk Management: Ensuring that all fraud detection and prevention activities comply with relevant laws and regulations. This includes working closely with legal and compliance teams to manage risk and ensure that the bank's practices are in line with industry standards.
• Cross-Functional Collaboration and Leadership: Leading a team of fraud analysts and collaborating with other departments such as IT, legal, and customer service to ensure a coordinated approach to fraud management. This also involves communicating effectively with senior management and stakeholders to align fraud prevention efforts with the bank's overall strategic goals.

Operational Responsibilities:
1.    Reporting & Data Insights

• Design, develop, and maintain comprehensive Management Information (MI) dashboards and reports on fraud losses, transaction monitoring, and key risk indicators (KRIs) using SAS Visual Analytics, Power BI, and SAP Business Objects.
• Extract, manipulate, and analyze large datasets from various banking systems using SAS Enterprise Guide and other data tools to generate actionable insights for fraud prevention, investigation, and risk assessment.
• Ensure timely and accurate regulatory and internal reporting, supporting compliance with Central Bank of the UAE (CBUAE) and other relevant standards.

2. Fraud Rules & Model Management

• Develop, code, and optimize fraud detection rules within SAS Fraud Management to address both existing and emerging fraud typologies across all products and channels.
• Continuously monitor rule performance, conducting root cause analysis and fine-tuning to maximize fraud detection rates and minimize false positives.
• Collaborate with business and technology teams to define and implement RAK Bank’s fraud rules strategy, ensuring alignment with risk appetite and operational efficiency.
• Support the deployment and lifecycle management of machine learning models for fraud detection, working closely with the analytics and data science teams to ensure robust, behaviour-based detection capabilities.
• Conduct optimization and adjustments of the monitoring rules and scenarios based on data analysis and new data inputs.
• Document rule logic and maintain version control.
• Establish and maintain efficient workflows for fraud rules deployment, alert management, and incident escalation to optimize operational processes.
• Assist in the implementation of the Anti-Fraud Framework/Program in relation to technology & data and assist in the development or update of required policies and procedures for applying the program.

3.    Analytics & Stakeholder Engagement

• Act as a Business Lead to collaborate with Analytics Department for advanced analytics initiatives, including the design and deployment of predictive and behavioral models for fraud detection.
• Partner with internal stakeholders (e.g., Fraud Investigations, IT, Digital Banking, Compliance) to identify analytics-driven opportunities for fraud risk mitigation and process improvement.
• Present analytical findings and recommendations to senior management and governance committees, influencing strategic decision-making.
• Engage with Cyber Security and AML to share intelligence and relevant information.

4.    Governance & Continuous Improvement

• Contribute to the periodic review and enhancement of RAK Bank’s counter-fraud strategy, policies, and procedures in response to evolving fraud threats and regulatory requirements.
• Ensure adherence to internal controls, data governance, and quality standards in all fraud analytics activities.
• Assist in the implementation of the Anti-Fraud Policy, Technology and Data related processes and procedures and relevant Standards.

Qualifications

What you will bring:

• Bachelor’s or master’s degree in data science, Statistics, Computer Science, Banking, or a related field.
• Minimum 8 – 10 years’ experience in fraud analytics or risk management within the banking or financial services sector.
• Hands-on experience with rules deployment on fraud management systems (e.g., SAS Fraud Management, FICO Falcon).
• Proven expertise in data analysis, statistical modeling, and fraud detection technologies (e.g., SAS EG, SAS Visual Analytics, Power BI, SAP Business Objects).
• Strong understanding of banking products, digital channels, and associated fraud risks.
• Excellent problem-solving, communication, and stakeholder management skills.
• Knowledge of programming and databases (i.e., Base SAS, SQL, Python, R, etc.).
• Professional certifications such as Certified Fraud Examiner (CFE) are highly desirable.

Additional Information

Competencies:

• Analytical Skills: The ability to analyze large datasets to identify patterns, anomalies, and trends that may indicate fraudulent activity.
• Technological Proficiency: Familiarity with fraud detection systems, cybersecurity measures, and advanced technologies like machine learning and artificial intelligence.
•  Investigative Skills: Strong investigative skills to dig deeper into suspicious transactions and understand the mechanisms of complex fraud schemes.
• Regulatory Knowledge: Understanding of relevant laws, regulations, and compliance requirements related to financial fraud.
• Communication Skills: Excellent communication skills to effectively report findings, collaborate with other departments, and conduct interviews with individuals.
• Problem-Solving Abilities: Creative problem-solving skills to develop and implement effective fraud prevention strategies. 
• Attention to Detail: A keen eye for detail to ensure the accuracy and completeness of data and alerts