Anti Fraud Officer

Role Overview

Anti-Fraud Officer at Foodics, a leading restaurant management ecosystem and payment tech provider headquartered in Riyadh.

Company Overview

Foodics is a SaaS company founded in 2014 with offices across 5 countries including UAE, Egypt, Jordan and Kuwait, serving customers and partners in over 35 countries worldwide. The company has processed over 6 billion orders and has completed three rounds of funding, with the latest raising $170 million in the largest SaaS funding round in MENA. Foodics operates as one of the most rapidly evolving SaaS companies to emerge from the MENA region.

Role Purpose

The Anti-Fraud Officer will be part of the Anti-Financial Crime function, overseeing fraud risk across Anti-Money Laundering (AML), Combating Terrorism Financing (CTF) and Anti-Fraud (AF). The role will adhere to and implement all SAMA regulations and ensure development and implementation of related policies, procedures, roles, monitoring, systems, tools and reporting.

Key Responsibilities

Policy & Documentation

• Contribute to preparation of Anti-Fraud policy in line with SAMA (specific to Payment Services) regulations and established rules or principles.
• Contribute to documenting Anti-Fraud policy and manual for the company in accordance with SAMA (specific to Payment Services) and the Anti-Fraud Law.
• Participate in documenting detailed procedure manuals covering all Anti-Fraud processes and reporting requirements.

Regulatory Compliance & Communications

• Participate in preparation of responses to all SAMA (specific to Payment Services) circulars and requests relating to fraud-related cases.
• Prepare required information in proper form and timeframe for regulatory submissions.
• Maintain logs and records of communications, circulars and correspondence including receipt, circulation, follow-up on action taken, sending and follow-up on replies.

Process Execution & Implementation

• Execute all required processes designed to manage fraud risk or comply with regulations, policies and procedures, including conducting required investigations.
• Communicate new procedures and regulations to related functions and staff.
• Ensure continuous follow-up for implementation including system requirements.

Client Validation & Onboarding

• Perform client validation and fraud checks requirements and validation reviews in onboarding and revalidation of client acceptance.

Monitoring & Detection Systems

• Contribute to implementation of tools and systems for monitoring clients and transactions against lists of sanctioned persons, entities or countries issued by government or competent authorities.
• Contribute to implementing pre-defined monitoring scenarios against sanction lists.
• Participate in implementation of Anti-Fraud detection system and setting up pre-defined scenarios.
• Contribute to updating fraud risk-related monitoring scenarios.
• Monitor fraud alerts and suspicious activities generated through fraud monitoring systems and other reporting channels.

Risk Assessment & Controls

• Perform oversight of operational execution of fraud risk activity and ensure effective controls testing are in place.
• Regularly assess efficiency and effectiveness of control systems and recommend needed improvements.
• Conduct fraud risk-related risk assessments for entities, processes, new products, services and initiatives in coordination with the Financial Crime Manager.

Qualifications & Experience

• 2–3 years of experience in a relevant role.
• Bachelor's degree in business, finance, economics, law or other related field; Master's degree preferred.
• Strong knowledge of KSA regulatory compliance in financial and payment services.
• Previous and strong experience in payments, Anti-Fraud, Anti-Bribery and Corruption within financial services industries.
• Knowledge of SAMA (specific to Payment Services) regulatory framework.

Skills & Competencies

• Fluency in Arabic and English (verbal and written).
• Strong MS Office skills (Word, Excel and PowerPoint).
• Willingness to expand technical knowledge in a broad range of projects.
• Capability to analyze and assess programs, policies and operational needs.

Additional Information

• Inclusive and diverse culture that encourages innovation and flexibility in offices.
• Highly competitive compensation packages including bonuses and potential for shares.
• Regular training and annual learning stipend for personal development in a hyper-growth environment.
• Talented team of over 30 nationalities working in 14 countries.
• Autonomy, mentoring and challenging goals that create opportunities for growth.