Business Title: Senior Manager, Digital Fraud Risk
Business Unit: Group Operational Risk
* To ensure that the Group Fraud Risk Management Policy and Procedure is effectively embedded and communicated across the Group.
* Managing fraud risk and assisting businesses and functions with implementing the ‘best in class’ tools & processes.
* Developing a proactive, independent and balanced fraud risk awareness culture in the Group.
* Ensuring Fraud Risk achieves an optimal balance about cost, efficiency, operational risk and customer service.
* Identify Industry best fraud risk infrastructure and management practices that are considered for adoption in Global Fraud Risk Management Group.
* To ensure various fraud risks are being actively prevented and detected in a timely manner on an end-to-end basis
* Drive enterprise wide alignment and growth in fraud risk management , necessary to proactively prevent fraud and quickly respond to attacks
* Design, build and deploy fraud mitigation strategies across multiple business channels and existing fraud activities
* Design and establish a control environment and infrastructure (Target Operating Model) to effectively manage fraud risk and protect the bank against fraud.
* Builds a fraud risk management team that effectively delivers fraud mitigation techniques and education through sound process discipline etc.
* Provides subject matter guidance to all businesses and functions assisting with fraud risk management
* Provides direction, technical assistance, training and advice to associates on matters of detection, investigation and prevention of internal and external fraud activities
* Provides education and fraud awareness communications to associates company wide
* Escalate issues in the relevant Global Fraud Risk Management Group, Process Governance Committees
* Ensure that effective management response plans are in place to respond to extreme but plausible fraud scenarios.
* To recommend changes to the process control environment or to business practice where necessary to reduce the level of fraud risk exposure to within the agreed tolerance.
* Direct appropriate response to material events or other fraud risk issues.
* Provide balanced and informed assessment of fraud risks arising from acquisitions and major change initiatives.
Fraud Risk Ownership
* Aligned to Operational Risk Framework Risk Owners responsibilities
* Support the Head of Operational Risk – Fraud Risk Management to
o Set policy and key control standards including approval of process and control solutions.
o Continuously monitor risk and control indicators to approve risk decisions and treatments.
o Continuously monitor Fraud (Top Risk) against risk tolerance thresholds, ensure prioritization of escalation and mitigation of risk tolerance breaches.
o Jointly and severally responsible with the First Line for risk and control outcomes of the process and any remediation or risk treatment actions in order to remain with risk tolerance.
o Conduct policy assurance for all owned policies.
o Ensure the Group has implemented the Group Fraud Risk Management Policy and Procedure
o Design, maintain and effectively communicate, including policies and new fraud types to all relevant stakeholders
o Challenge the completeness of fraud risk & control standards and identify & address any significant gaps that may exist between Businesses and Functions
o Deliver MIS on fraud performance reflecting cost efficiency, significant events, trends and customer service metrics
o Ensure that material risk exposures and related issues are reported to the responsible PGC’s/FORC’s and GORC.
* Bachelor’s degree in Finance, Engineering or equivalent. Master’s degree is highly desirable
* Certified Fraud Examiner external certification or equivalent industry experience is highly desirable
* Overall experience > 12 Years with experience in Digital fraud risk
- European market experience – developed digital fraud risk framework
- payroll processing / beneficiary workflow
- Vendor experience e.g. Trade Metrics
o Fraud Risk Management domain experience > 5 years, to lead, develop and implement Fraud Risk Management policy and programs
o Banking or Financial Services domain experience > 5 years, having worked in Business Front Line or Back Office processes supporting minimum one or more Business Lines in Retail Banking, Private Banking, Corporate or Institutional Banking.
* Good understanding of Fraud Technology and Advanced Analytics/Modelling Solutions
* Strong leadership qualities, communication, influencing and management skills and multi-cultural awareness and sensitivity
* Subject matter expert and thought leadership on fraud risk management
* Broad understanding of industry forums working environments
* Demonstrated track record in successful management and ability to manage risk in geographically dispersed and highly varied product base.