FRAUD RISK OFFICER

We are seeking an experienced Fraud Risk Officer to develop, implement, and maintain effective fraud-risk management controls across payment, remittance, cross-border payment, and digital financial services activities. The role will support the identification, prevention, detection, investigation, reporting, and remediation of actual and suspected fraud, while ensuring that fraud controls remain aligned with the Company's risk appetite, applicable regulatory requirements, and operational needs.

Key Responsibilities

• Develop, maintain, and enhance the Company’s fraud risk management framework, including policies, procedures, control standards, monitoring scenarios, escalation protocols, and fraud risk assessments.
• Conduct periodic fraud risk assessments across customers, products, payment channels, jurisdictions, merchants, agents, payment partners, vendors, and operational processes.
• Monitor transaction alerts, behavioural indicators, account activity, chargebacks, payment reversals, onboarding anomalies, account-takeover indicators, and other fraud typologies.
• Investigate suspected internal and external fraud cases; document findings, preserve evidence, determine root causes, and recommend appropriate remediation.
• Assess and investigate fraud risks arising from cross-border payments, remittance transactions, merchant activities, payment partners, and other payment-related services.
• Escalate material fraud incidents to senior management, Compliance, AML/CFT, Operations, Information Security, Legal, and other relevant stakeholders.
• Work closely with the AML/CFT team to identify potential links between fraud, money laundering, terrorist financing, mule-account activity, scams, sanctions evasion, and suspicious transaction patterns.
• Design, review, and enhance fraud detection rules, thresholds, customer-risk indicators, transaction-monitoring scenarios, and case-management workflows.
• Analyse transaction and customer data to identify emerging fraud trends, unusual behavioural patterns, control weaknesses, and potential fraud typologies.
• Review fraud-control effectiveness through data analysis, alert-quality testing, false-positive/false-negative analysis, trend reporting, and control assurance reviews.
• Support the onboarding and ongoing assessment of merchants, payment partners, agents, vendors, and other third parties from a fraud-risk perspective.
• Maintain accurate and complete fraud case records, investigation files, risk registers, management information, and fraud-risk reporting dashboards.
• Prepare periodic fraud-risk reports for management and relevant governance committees, including key fraud trends, losses, incidents, control gaps, emerging typologies, and remediation status.
• Coordinate responses to fraud incidents, including account restrictions, transaction holds, recovery actions, customer communications, law-enforcement referrals, and post-incident reviews where applicable.
• Support fraud-related reviews, audits, regulatory enquiries, and requests for information from relevant authorities, where applicable.
• Deliver fraud-awareness training to relevant employees and contribute to a strong risk and control culture.
• Monitor emerging fraud and scam typologies, payment-industry developments, regulatory expectations, and fraud-prevention technologies, and recommend enhancements where appropriate.
• Perform other fraud-risk and control-related duties as assigned by management.

Requirements:

• Bachelor’s degree in Finance, Business, Risk Management, Compliance, Information Security, Accounting, or a related discipline.
• At least 5 years of relevant experience in fraud risk management, financial crime compliance, transaction monitoring, payments operations, fraud investigations, internal controls, risk management, or a related field.
• Experience within a bank, payment institution, e-wallet provider, remittance business, fintech, acquirer, card issuer, or other regulated financial-services organization is preferred.
• Experience in cross-border payments, remittance, payment processing, merchant payments, or digital payment services will be an advantage.
• Strong understanding of fraud typologies, including authorised push-payment scams, account takeover, identity fraud, mule accounts, card/payment fraud, merchant fraud, refund abuse, social engineering, and insider fraud.
• Practical experience conducting fraud investigations and producing clear, evidence-based case narratives and escalation reports.
• Sound judgement and strong investigative mindset.
• High attention to detail and ability to manage confidential information appropriately.
• Ability to work independently while collaborating effectively across Compliance, Risk, Operations, Product, Technology, and senior management.
• Strong written and verbal communication skills, including the ability to explain complex fraud risks clearly to non-specialist stakeholders.
• Ability to prioritise multiple cases, meet tight timelines, and respond effectively during incidents.
• Proactive approach to identifying control gaps and driving sustainable remediation.
• Understanding of regulatory requirements and expectations applicable to payment-service providers, financial institutions, fintech companies, remittance businesses, and other regulated financial-services organisations.
• Knowledge of regulatory requirements relating to fraud risk management, operational risk, technology risk, AML/CFT, outsourcing, incident management, governance, and internal controls is preferred.
• Familiarity with the regulatory frameworks and supervisory expectations of the Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) will be an advantage.
• Knowledge of cross-border payments, merchant acquiring, card payments, e-wallets, payment processing, or remittance businesses is preferred.