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Fraud and Forensics Lead

Date: 01-Feb-2023

Location: Dubai, AE

Company: Majid Al Futtaim

Majid Al Futtaim Holding invites you to join us in our quest to create great moments for everyone, everyday! We are the leading shopping mall, residential communities, retail and leisure pioneer across the Middle East, Africa and Asia, serving over 560 million visitors a year. For the past two decades, we have shaped the consumer landscape across the region, transforming the way people shop, live and play, while maintaining a strong sustainability track record and the largest mall in the world to attain LEED Gold EBOM Certification. We have over 40,000 team members in 15 international markets representing over 100 nationalities – all keeping the customer at the heart of everything we do. If you enjoy being BOLD, PASSIONATE and TOGETHER, then Majid Al Futtaim is the destination for you.

 

Reporting to: Head of Internal Audit

Function: Internal Audit

Location: Majid Al Futtaim Holding, Corporate Head Office

Role Purpose:

The Fraud & Forensics Lead will be responsible for designing and evaluating overall fraud and forensics risk assessment and developing audit approach and rotation for identified business risks as well as materially, participate in the development of audit plans based upon knowledge of business and associated risks.  The role holder will also be responsible for guarding the corporate assets of Majid Al Futtaim (MAF) shareholders by providing independent assurance over the design, implementation and monitoring of an effective anti-fraud program.

 

Role Details – Key Responsibilities and Accountabilities:

Fraud & Forensics Strategy

  • Provide Subject Matter Expertise and contribute to the overall annual audit plan, based on a comprehensive risk assessment, identified opportunities for process improvements, with relevant focus on risks linked with fraud
  • Champion risk assessments of auditable entities within the audit universe to assist audit leadership develop the annual audit plan and risk assessment
  • Fraud & Forensics Audit Planning & Execution
  • Lead the delivery of fraud and forensics engagements (e.g., project monitoring, issue resolution, and escalation) in order to achieve planned objectives and goals
  • Ensure that recommendations for improvement to governance, risk management and control are balanced with broader organizational objectives and business objectives of other functions and/or departments
  • Monitor the fraud risk profile and emerging risks based on internal/external factors, update MAF management of the potential impacts. Identify root causes and appropriate solutions for recurring or thematic audit issues
  • Actively contribute to improving operational efficiency on projects and internal initiatives and consistently driving projects to completion, determining that the work is of high quality
  • Support the operational internal audit team in executing integrated risk-based audits by assigning resources with the right skills and overseeing the quality of performance and deliverables
  • Monitor the status of implementation of high priority management action plans (corrective actions)
  • Provide advisory services as required by management or by request of the Board of Directors via the Audit & Risk Committee

Fraud Risk Prevention, Detection and Response:

  • Lead the fraud compliance and risk assessment, and other relating forensic projects (business and digital)
  • Work on a diverse portfolio of projects, gaining exposure to a fast–paced market with evolving challenges and opportunities and to support the grooming of fraud risk management and forensics talent within MAF
  • Manage and provide an oversight on fraud risk management assignments using data extraction, data analytics and management reporting
  • Provide independent assurance about the design, implementation and monitoring of an anti-fraud/asset protection program to detect, deter and prevent unauthorized use of company assets.
  • Lead fraud investigations including interviews/interrogations, forensic data recovery, computer imaging, reporting results and recommending improvements in internal controls that focus on anti-fraud activities
  • Perform automated transactional reviews across all business entities to detect and investigate fraud.
  • Monitor the corporate integrity line for fraud events and collaborate with management on investigations to ensure strict compliance with the Code of Ethics/Standards of Conduct
  • Provide expert guidance on the development of policies and roll out of training and awareness campaigns to enhance the control environment, prepare and conduct fraud prevention training to management teams
  • Oversee the anti-fraud control monitoring activities, including the development of IT solutions
  • Oversee investigations processes and report results with respect to fraud allegations, recommend remedial activities and reporting lessons learnt
  • Provide assurance about the management of fraud incidents framework to support identification, escalation and reporting in a timely fashion via defined governance routes
  • Lead assigned investigators to investigate and resolve fraud risk incidents
  • Advise on actions to take as appropriate to mitigate and manage financial, customer, regulatory and reputational impact from identified fraud incidents

Stakeholders’ Engagement:

  • Build relationships with stakeholders across MAF to stay at the forefront of changes to the business and to promote the value of the Fraud & Forensics unit within the internal audit function
  • Facilitate workshops with key Executive and/or Senior Management across MAF geographical footprint to identify appropriate solutions for recurring or thematic fraud related issues
  • Assist stakeholders to set up anti-fraud units through designing the governance and developing the required policies and procedures and building the structure of the unit
  • Collaborate with other assurance providers in MAF, such as Risk Management, Legal & Compliance, Information Security, etc.., to facilitate comprehensive business assurance, including key risk indicators reporting
  • Liaise with Legal and provide support in law enforcement for all internal and external fraud investigations, as applicable.
  • Provide litigation support and present findings to be used as trial evidence, as applicable.
  • Keep organized files of all legal cases, and attend court, when needed

 

Technical Responsibilities:

  • Identify tools, techniques and technologies that are needed to improve/ sustain the fraud risk management activities’ posture across the whole organization
  • Ascertain deployment of a governance framework that aligns with domain specific international standards and benchmarks

Human Capital Responsibilities

  • Ensure the implementation of the performance management process
  • Provide mentorship for the purpose of developing a continuous talent pipeline for key roles
  • Identify training needs and coordinate with the HC department to ensure facilitation of training requirements
  • Oversee the development and implementation of on the job-training
  • Ensure constant availability of the required competent staff to support the organization in meeting all its responsibilities, plans, and objectives
  • Provide inputs while developing MAF’s corporate policies and relevant procedures, and monitor the implementation

 

Definition of Success

  • Satisfactory investigation of complex issues relating forensics (business and digital), fraud examinations, cybercrime, anti-corruption and anti-money laundering and developing practical solutions that address operational challenges
  • Collective knowledge and insight gleaned from working across industries and geographies to help MAF conduct fraud risk assessments and institute proactive anti-corruption programs
  • Resourceful in utilizing forensic data analytics that enable MAF to manage risk and regulatory compliance
  • Developing a clear roadmap to achieve strategic objectives, in the capacity of the 3rd Line, and actively supporting different stakeholders to ensure delivery. Achievement of defined objectives of audits and initiatives
  • Enabling change through personal ownership and a constant drive to improve, role modeling and coaching others on making decisions effectively based on facts, context, and risks
  • Demonstrated improvement in the fraud risk management activities’ posture (lowering of the residual risk rating) of the organization (through measurement of KPI’s)
  • Proactive compliance with the applicable regulatory frameworks and international standards/ benchmarks

Personal Characteristics and Required Background:

Minimum Qualifications/ Education

  • Bachelor’s degree in business administration, Accounting or Finance or Computer Engineering related field of study from an accredited university is required; relevant experience in lieu of a degree may be considered
  • Masters’ degree in Information Security, Big Data or Business Administration would be an added advantage
  • Digital Experince is a must 
  • Additional qualification in Economic Crime Investigation or Law Enforcement would be a plus
  • Relevant certifications in fraud examination, forensics or criminology would be an added advantage

Minimum experience

  • 12+ years of active experience in the field of fraud, investigations, forensics, etc.
  • 5+ years of experience in management role interacting with senior management teams
  • Proven track record with a leading consulting firm experienced in the fraud risk assessment, forensic audit, fraud examination domains

Skills

  • Interview and interrogation training experience required
  • Knowledge of fraud risk management methodologies and hands-on experience in developing key fraud and forensics deliverables including process flows, work programs, reports, and control summaries
  • The ability to travel to client locations or work extended hours when necessary to respond to client events
  • Hands-on experience in complex, multi-geography operations would be a significant benefit
  • Strong people and negotiation skills; ability to collaborate/ interact with all levels of workforce, including Board members
  • Proactive problem solver with professional and intellectual credibility and an impactful style
  • Inspiring others by turning difficult conversations into a platform for building trust, coaching, and aligning team; actively building an environment of openness and trust as a result
  • Critical thinking skills providing insightful observations and communicate these effectively
  • Excellent interpersonal and communication skills, specifically, the ability to explain complex topics to a non-technical audience; ability to present customized messages based on the audience
  • Ability to function in a fast-paced environment, while sustaining due attention to details
  • Understanding of forensic auditing procedures, and maintaining the highest level of confidentiality on all investigations, forensic activities and events
  • Subject-Matter-Expertise assistance to MAF when facing acts of fraud, government investigations or regulatory inquiries, major litigation, cyber security breaches or transactional disputes
  • Experience in defining and implementing fraud risk management and forensics governance frameworks, best practices, and training & awareness programs
  • Detailed understanding of fraud examination and forensic techniques and technologies
  • Strong investigative and analytical skills, excellent numeracy skills with an ability to spot inaccuracies
  • Excellent project management skills and the ability to prioritize when working on multiple engagements
  • Written and spoken English and Arabic are essential, French is an advantage