Job Purpose
To Participate in minimizing fraudulent transactions through using a fraud identification system that triggers alerts for investigation in collaboration with IT and Data Teams.
Fraud Detection
1. Participate in the design of a fraud identification process to capture suspected fraudulent transactions to minimize Fraud and have a high quality asset portfolio
2. Identify potentially fraudulent transactions and refer them to the Credit investigation team based on a sampling process (some post facto and some pre-facto)
3. Develop a fraud identification Early Warning system to trigger alerts for investigation in conjunction with IT and Data Office
Policies, Processes and Procedures
1. Implement approved department policies, processes, and procedures and monitor adherence so that work is carried out in a controlled manner
Day- to-day operations
2. Implement the day-to-day operations assigned for the department to ensure compliance with the established standards and procedures
Compliance
3. Comply with all relevant CBE regulations, banking laws, AML regulations and internal CIB policies and code of conduct in order to maintain CIB’s sound legal position and mitigate any potential risks
Supervision
4. Supervise the activities and work of subordinates to ensure that all work within a specific area is carried out in an efficient manner and in compliance with the set policies, processes and procedures
Qualifications & Experience
Bachelor’s degree of commerce, Business Administration, accounting or equivalent.
Senior Officer: 5 – 7 years of experience in banking (fraud, risk, credit, operations)
Officer: 3 – 5 years of experience in banking (fraud, risk, credit, operations)
Credit Certificate is a plus.
Data and Cyber Security Knowledge is required.
Skills
Very good command of English and Arabic languages.
Analytical skills.
Street smart with good analytical skills
Process driven
Technology oriented
Commercial International Bank was established in 1975 as a joint venture between the National Bank of Egypt (NBE, 51%) and the Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt”. Following Chase's decision to divest its equity stake in 1987, NBE increased its shareholding to 99.9%, changing the Bank’s name to Commercial International Bank (Egypt) S.A.E. NBE’s stake gradually decreased through several public offerings till reaching 18.7%. In 2006, a Consortium led by Ripplewood Holdings acquired NBE stake. In July 2009, Actis, a leading emerging markets private equity firm, invested US$ 244 million to get shares in CIB, acquiring hence 50% of the Ripplewood Holdings Consortium’s stake. Five months later, Ripplewood sold its remaining 4.7% stake over the open market, marking the successful transition of strategic partnership to be with Actis, who then became CIB’s largest shareholder with a 9.1% stake. In March 2014,Actis sold a portion of its holding, representing 2.6% of the Bank’s total outstanding shares, in the open market to a group of international investors. In May 2014, Actis, successfully realised its investment in CIB and sold its remaining 6.5% to Subsidiaries wholly owned by Fairfax Financial Holdings Ltd “Fairfax”.
CIB is Egypt’s leading private sector bank, offering a broad range of financial products and services to its customers, including enterprises of all sizes, institutions, households and high-net worth individuals. CIB strives to provide superior financial solutions to meet all customers’ needs. Having the strongest brand equity rightfully places CIB as the bank of choice for over 500 of Egypt’s largest corporations. CIB shows tremendous potential within the bourgeoning Retail and SME Banking markets. Through its superior management, high-operating standards, corporate governance best practices and training programs,CIB has succeeded in becoming the most profitable commercial bank operating in Egypt for more than 40 years.
