Anti Fraud Manager📣 Job Ad

Position Summary

Allied Cooperative Insurance Group (ACIG) is seeking an experienced Anti-Fraud Manager to enhance its fraud prevention and detection capabilities. This full-time role is based in Riyadh, Saudi Arabia, and is integral to supporting the effectiveness of the Compliance & AML Department.

Core Responsibilities

• Develop, implement, and maintain the Company’s anti-fraud framework, policies, procedures, and controls.
• Conduct fraud risk assessments and identify potential fraud vulnerabilities across business processes and insurance operations.
• Oversee the detection, assessment, and investigation of suspected internal and external fraud cases.
• Monitor fraud indicators, trends, patterns, and emerging fraud risks, recommending appropriate preventive measures.
• Establish and monitor fraud detection mechanisms, red flags, and key fraud risk indicators.
• Coordinate investigations with relevant internal departments while maintaining appropriate confidentiality and documentation.
• Prepare investigation reports, fraud analysis, and recommendations for corrective and preventive actions.
• Maintain accurate records and case files for reported and investigated fraud incidents.
• Prepare periodic anti-fraud reports and regulatory submissions as required.
• Ensure compliance with applicable anti-fraud regulations, company policies, and requirements of the Saudi Insurance Authority.
• Coordinate with relevant authorities and external parties on fraud-related matters when required.
• Conduct anti-fraud awareness programs and provide guidance to employees on fraud identification, prevention, and reporting.
• Monitor the implementation of corrective actions arising from fraud investigations and risk assessments.
• Lead and develop anti-fraud staff and promote a strong culture of integrity, vigilance, and fraud prevention.

Anti-Fraud Framework Management

The Anti-Fraud Manager is responsible for the comprehensive management and oversight of ACIG’s anti-fraud framework. This includes all aspects from fraud risk assessment and prevention to detection, investigation, monitoring, and reporting. The role ensures that robust controls are in place to mitigate fraud risks and that all suspected fraud cases are investigated and managed in strict adherence to ACIG policies and the regulatory requirements of the Saudi Insurance Authority and other applicable authorities.

Internal and External Collaboration

Reporting within the Compliance & AML Department, this position requires close collaboration with various internal functions. The Anti-Fraud Manager will work directly with Claims, Underwriting, Finance, Risk Management, Internal Audit, HR, and Legal departments to strengthen the Company’s overall fraud risk management and compliance environment. Coordination with relevant external authorities and parties on fraud-related matters is also a key aspect of this role.

Required Qualifications

ACIG is seeking an experienced anti-fraud professional with 5 to 10 years of relevant experience. The ideal candidate will demonstrate a strong commitment to integrity, effective fraud prevention strategies, and meticulous regulatory compliance. This role is suited for a professional capable of leading initiatives and fostering a culture of vigilance against fraud within the organization.

Join Our Team

If you are an experienced anti-fraud professional who meets these qualifications and is committed to integrity and regulatory compliance, we invite you to apply and become part of the ACIG team.