Director of Operational and Fraud Risk Management

7 days ago

Muscat, Muscat, Oman beBee Careers Full time

The Director of Operational and Fraud Risk Management oversees the development, implementation, and maintenance of a comprehensive risk management framework to minimize operational risks.

This role requires strong leadership skills, extensive experience in operational and fraud risk management, and the ability to conduct complex investigations.

Key Responsibilities:

Operational Risk Management:
  • Develop, implement, and monitor the ORM framework and KRIs across the organization.
  • Analyze trends to reduce recurring operational risk events and implement preventive measures.
  • Maintain updated and tested BCPs for critical functions to mitigate potential disruptions.
  • Conduct regular risk awareness sessions and improve risk culture through positive feedback from surveys.
Fraud Detection and Prevention:
  • Detect and prevent fraud by implementing proactive measures and advanced detection tools.
  • Measure and report the number of fraud cases detected and the monetary value of fraud incidents prevented.
  • Achieve a sustained reduction in fraud incidents by enhancing controls and awareness programs.
Investigation Efficiency:
  • Average Investigation Time: Measure the average time taken to complete fraud investigations.
  • Investigation Closure Rate: Track the percentage of investigations successfully closed within a defined timeframe.
  • Accuracy of Investigations: Measure the percentage of investigations that result in confirmed fraud cases.
Risk Management:
  • Conduct regular operational and fraud risk assessments to ensure comprehensive coverage of all critical areas.
  • Oversee the implementation of recommended risk mitigation measures and track their effectiveness.
  • Maintain compliance with regulatory requirements related to operational and fraud risk management.
Team Performance and Development:
  • Develop the operational and fraud risk team by providing regular training and professional development opportunities.
  • Monitor team satisfaction and engagement through feedback and implement initiatives to enhance performance.
  • Conduct periodic performance evaluations to ensure team members meet established standards and goals.
Reporting and Documentation:
  • Ensure timely submission of accurate and comprehensive investigation and risk reports to stakeholders.
  • Maintain accurate records and documentation for all operational and fraud risk management activities.
  • Monitor the quality of reports to ensure clarity, consistency, and alignment with stakeholder expectations.
Stakeholder Engagement:
  • Internal Stakeholder Satisfaction: Measure satisfaction levels of internal stakeholders and collaborate with them to strengthen the risk management framework.
  • Foster successful partnerships with external stakeholders, including regulatory bodies and law enforcement agencies.
Continuous Improvement:
  • Lead the adoption of industry best practices in operational and fraud risk management.
  • Introduce innovative tools, technologies, and methodologies to enhance fraud detection and prevention capabilities.
  • Drive continuous improvement initiatives to strengthen the organization's operational and fraud risk management processes.
Financial Impact:
  • Quantify and report cost savings achieved through effective fraud prevention measures.
  • Monitor and enhance the Return on Investment (ROI) for operational and fraud risk management initiatives.

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