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Description
At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank – we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance.
About the role
The position is pivotal in safeguarding financial interests while delivering high-quality service to both internal and external stakeholders. Reporting to the Manager, this role requires close collaboration with cross-functional teams across the organization to ensure robust fraud prevention and risk management within the Acquiring Business.
What You’ll Be Doing:
- Lead and manage all Acquiring Risk and Fraud-related functions, ensuring efficient, secure, and controlled processing of cardholder data.
- Implement preventive measures to control fraud in alignment with payment card industry standards.
- Monitor merchant alerts and suspicious transactions using card management systems; liaise with issuers for authentication and follow-ups.
- Coordinate with internal departments, card schemes, and international banks for fraud investigations and transaction confirmations.
- Generate and analyze fraud statistics reports (daily, weekly, monthly) and prepare detailed analysis for management review.
- Collaborate with the chargeback section and merchant operations to address fraud-related cases and conduct merchant training.
- Review and act on reports from Visa, MasterCard (SAFE, MOST, MATCH), and other card schemes for fraud mitigation.
- Engage with law enforcement, legal, and compliance teams on fraud and risk-related matters.
- Maintain fraud-to-sales ratio through continuous monitoring and reporting.
- Ensure compliance with card scheme non-compliance programs.
- Manage E-commerce risk reviews and configure fraud monitoring rules across various channels.
- Oversee secure handling of cardholder data, maintenance requests, and plastic card destruction.
- Respond to inquiries from branches, telebanking, and cardholders regarding maintenance requests.
- Mentor new staff and prepare team progress reports.
What We’re Looking For:
- Education: University Degree or equivalent qualification.
- Experience: 5–7 years of experience in the banking sector, experience working with card schemes (Visa, MasterCard) and fraud management systems (CyberSource DM, MPGS Gatekeeper).
- Industry Exposure: Strong understanding of payment card industry standards and fraud prevention practices.
What’s In It For You:
- Competitive, performance-linked compensation.
- Medical coverage for you and your family.
- Comprehensive life insurance.
- Inclusive and diverse workplace culture.
- Career development and fast-track growth opportunities.
- Mentorship from industry experts.
Skills
- Strong analytical and investigative skills.
- Excellent verbal and written communication abilities.
- Proficiency in Microsoft Office and fraud management platforms.
- Effective time management and multitasking capabilities.
- High level of integrity and customer service orientation.
Opportunity Details
About This Company
RAKBANK
RAKBANK, the trading name of the National Bank of Ras Al-Khaimah, is a public joint stock company, headquartered in the emirate of Ras Al-Khaimah, in the UAE. The Head Office of the bank is situated in RAKBANK Building, Emirates Rd, Ras Al-Khaimah. The bank is 52.75% owned by the Government of Ras Al-Khaimah.
Shares are publicly traded. Board consists of several members of the ruling family of the emirate of Ras-Al Khaimah and businessmen from UAE and Kuwait. The bank is engaged in providing retail and corporate banking services through a network of thirty three branches in the United Arab Emirates, but all the transactions are handled on a strictly commercial basis.
Board of Directors
H.E. Shaikh Omar bin Saqr Al-Qasimi Chairman U.A.E
H.E. Shaikh Salim bin Sultan Al-Qasimi Member U.A.E
Mr. Hamad Abdulaziz Al Sagar Member Kuwait
Mr. Abdul Aziz Abdulla Al Zaabi Member U.A.E
Mr. Yousuf Obaid Essa Al Nuaimi Member U.A.E
Mr. Ahmed Essa Al Naeem Member U.A.E
Mr. Salem Ali Abdulla Saeed Al Sharhan Al Nuaimi Member U.A.E