Description

Job Purpose:

To handle the monitoring of Payment Acceptance transactions according to the latest fraud trends, all controls are put in place to mitigate the risk of fraudulent attempts, along with collaborating with the charge back team to reduce the fraud/charge back rates through following the international standards, best practices.

Job Description: 

 1. Monitor and analyse the daily merchants’ batches before settlements to prevent the occurrence of fraud losses.

2. Investigate the high risk or suspicious transaction activities with the merchants, issuing banks, and cardholders to determine the proper action.

3. Review and analyse the merchant transaction, volume and chargeback activity.

4. Analyze the risk and losses alert to statistically recommend the appropriate criteria and parameters for the Risk Monitoring System.

5. Review and define the suspected batches until receiving confirmation from the issuer banks, as well as receiving supported documents from the merchant regarding the suspected transactions, in order to be sent to acquiring operations to be put on hold.

6. Use the available communication tools to confirm the suspicious transactions with the issuer banks to stop processing the fraudulent transactions in coordination with the merchants. 

7. Report the confirmed fraud cases to the direct manager to check and send them to Card Center to return the amount back to the issuing banks, and to avoid issuing charge back against our merchants. 

8. Monitor the batches over the high-risk merchants during the first 3 months, according to the on-boarding team report, in order to assess the merchant’s sales volume against the nature of business, and detect possible fraud scenarios at earlier stage.

9. Monitor the merchants’ activities by reviewing offline reports to detect any abusive behaviour, or financial solvency.

10. Review the charge back report that includes the fraud transactions reported by the issuing banks, to tune the monitoring methodology to detect similar patterns.

11. Handle incoming inquiries, requests from issuing banks in terms of reporting suspicious transactions, to take the necessary action to stop processing the reported transactions in coordination with the merchant and business stakeholders.

12. Perform immediate recovery actions to recover potential fraud losses in coordination with the merchants, internal and external stakeholders where possible to mitigate any financial impact.

Policies, Processes and Procedures

13. Follow all relevant department policies, processes, standard operating procedures and instructions so that work is carried out in a controlled and consistent manner

Day- to-day operations

14. Follow the day-to-day operations related to own jobs in the Fraud Management department to ensure continuity of work

Compliance:

15. Comply with all relevant CBE regulations, banking laws, AML regulations and internal policies and code of conduct in order to maintains sound legal position and mitigate any potential risks