Majid Al Futtaim Hiring for Fraud & Risk Management Associate Job at Dubai Full Time

Role Purpose:

Majid Al Futtaim is the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play. We have over 45,000 team members in 16 international markets – all keeping the customer at the heart of everything we do.

Our diverse businesses present a unique opportunity to leverage one of the richest and most expansive sources of data within the MENA regions. In our efforts to realize our vision of knowing and serving our customers better, Majid Al Futtaim is building one of the most ambitious loyalty programmes in the region, SHARE. SHARE was launched in 2019 and reached 2+ million members in less than two years.

This role will be responsible for identifying and mitigating loyalty-related fraud and operational risks, for SHARE been rolled out to the market. Key duty of the role is to support and work together with Fraud Risk Manager to ensure Fraud Risk is controlled and risk mitigation process is defined for the market.

Role Details – Key Responsibilities and Accountabilities:

Loyalty Fraud Prevention

• Responsible for Loyalty fraud identification and mitigation
• Identify ‘long list’ of potential fraudulent activities within the loyalty programme and detection approach
• Monitor overall loyalty programme activity with focus in identifying high risk transactions
• Build and maintain fraud analysis models and automatic alerts to reduce lead time before an action is taken by loyalty programme business
• Define processes and stakeholders for handling potentially fraudulent accounts / transactions including account suspension and investigation
• Conduct end to end investigations of potentially fraudulent accounts or transactions, which might include contacting the member
• For high risk transactions triggered for suspension and investigation, define member service level agreements and communication approach with the member engagement team
• Resolve suspended accounts within the service level agreements to reduce potential revenue loss and impact on customer experience
• Ensure confidentiality of all information collected during investigations
• Identify business, process and systems improvements to prevent fraudulent activities
• Recommend new software tools used for fraud detection, prevention and reporting activities
• Generate suspicious activity reports and risk management reports for management

Loyalty Risk Management

• Responsible for Loyalty risk identification and mitigation
• Design and implement an overall risk management process for the loyalty programme, which includes an analysis of the financial impact on the company when risks occur
• Analyse current risks and identifying potential risks that are affecting the company in coordination with Compliance and Risk department
• Evaluate the company’s previous handling of risks, and comparing potential risks with criteria set out by the company such as costs and legal requirements
• Risk reporting tailored to the relevant audience
• Creating business continuity plans to limit risks
• Building risk awareness amongst staff by providing support and training within the company

Definition of Success

• Rapid identification of potentially fraudulent accounts and transactions
• Quantification of fraud mitigation measures and visible signs of improvement
• Give management visibility on fraud risks, their magnitude and mitigation approach

Functional/Technical Competencies

• Strong analytical skills (required knowledge of SQL)
• Great attention to detail
• Commercial awareness
• Numerical skills
• Planning and organisational skills
• Ability to understand broader business issues
• Communication and presentation skills

Personal Characteristics and Required Background:

Personal characteristics

• Exceptional organizational and analytical skills
• Charismatic with strong communication and stakeholder engagement skills
• Strong written and verbal communication skills
• Ability to work in a diverse, international company and able to work with multiple stakeholders and matrix managed teams
• A team player

Minimum experience

• 4+ years fraud and/or risk management experience
• Working in a diverse, international company and able to work with multiple stakeholders and matrix managed teams
• Arabic reading and speaking
• Experience in loyalty preferred

Minimum Qualifications/education

• Bachelor’s degree or equivalent in a quantitative subject
• Risk Management qualification preferred