Counter Fraud Monitoring Specialist Technology📣 Job Ad

About Neoleap and the Role

Neoleap is seeking a Counter Fraud Monitoring Specialist Technology to join its team in Riyadh, Saudi Arabia. This full-time position is integral to strengthening the organization's defenses against fraudulent activities through advanced technology solutions.

Role Purpose

The Counter Fraud Technology Specialist is responsible for the implementation, management, and optimization of technology solutions designed to detect, prevent, and investigate fraudulent activities. This role requires a strong blend of technical expertise, analytical skills, and a deep understanding of fraud typologies and risk management principles. The specialist will collaborate with data scientists, security teams, business units, and external vendors to ensure the effectiveness and continuous improvement of fraud detection and prevention systems.

Core Responsibilities

• Conduct comprehensive fraud risk assessments across products, services, systems, and accounts, assessing exposure based on transactions, user behavior, and fraud trends.
• Design and customize detection rules and thresholds, aligning solutions with identified risk findings.
• Create and maintain an inventory of all data sources for fraud detection, detailing origin, storage, access, and use.
• Integrate behavioral analytics and implement an Intelligence Monitoring System.
• Implement data quality controls to ensure the timeliness and accuracy of information used in fraud detection and prevention.
• Establish a comprehensive Fraud Response Framework, including clear procedures, roles, escalation protocols, and a standardized Root Cause Analysis (RCA) process for all fraud cases.
• Implement a centralized fraud case management system for tracking and monitoring incidents.
• Enhance the Anti-Fraud Team’s capabilities through recruitment, training, and technology investments.
• Integrate counter fraud technologies with existing IT infrastructure, data sources, and business processes.

System Optimization and Compliance

• Ensure the stability, performance, and scalability of all counter fraud technology solutions.
• Continuously monitor the effectiveness of Anti-Fraud systems, rules, and models, analyzing performance metrics, false positive rates, and fraud detection rates.
• Propose and implement rule changes, model adjustments, and conduct regular system health checks and audits.
• Collaborate with data scientists and analysts to develop and refine fraud detection models, extracting and analyzing large datasets to identify emerging fraud patterns and vulnerabilities.
• Generate regular reports on fraud trends, system performance, and key risk indicators.
• Provide technical support during fraud investigations, including data retrieval, system log analysis, and evidence preservation, and work with fraud investigators to enhance their tools and processes.
• Act as a subject matter expert on counter fraud technologies, advising internal stakeholders on best practices and solutions, and training internal teams on the effective use of counter fraud tools and systems.
• Ensure all Anti-Fraud technology solutions comply with relevant regulations, industry standards, and internal policies, participating in risk assessments and audits related to fraud prevention technologies.
• Implement an automated performance analysis and reporting mechanism in SAS and VRM to track key metrics and define a systematic methodology for rule tuning and calibration.

Qualifications and Experience

Candidates for this full-time role should possess 2-5 years of experience in a relevant field. The position requires a strong foundation in technical expertise, analytical skills, and a comprehensive understanding of fraud typologies and risk management principles.

Work Environment

This role is based in Riyadh, Saudi Arabia. The specialist will operate within a dynamic environment, collaborating with various internal teams and external partners to maintain robust fraud prevention systems.