Head, Fraud Risk Management
- Permanent, Full time
- Standard Chartered Bank
- 04 Sep 16
Please view Job Description for details.
- Managing Retail Banking Fraud Risk Operations, Investigation and Risk activities and processes effectively and efficiently aligned to business strategy
- Managing fraud risk management strategy for Channels and Products within Retail Clients segment.
Key Roles and Responsibilities
- Define a Fraud Risk Management strategy and infrastructure for channels and products within Retail Banking (lending and Non Lending products)
- Define and develop an operating model to best support process efficiencies and effectiveness in Fraud Risk Management
- Implement consistent FRM policy, strategies and Global Process Standards across all channels and products
- Develop Fraud Risk Assessment framework for all channels to identify and respond to existing and emerging fraud risks
- Have oversight of processes and controls across all channels and products
- Optimise operating efficiency while balancing the effectiveness of decision making within the Fraud Risk Management function
- Ensure the Fraud Risk Management framework is effectively embedded and communicated across Retail Clients segment
- Ensure the cost budget in Fraud Risk Management is based on robust capacity plans and is delivered through a rigorous cost management discipline
- Support standardisation, automation and consolidation through re-engineering and process improvement initiatives in countries for Fraud Risk Management function
- Develop and maintain Fraud Risk Management capabilities, skills and infrastructure that are in compliance with both internal policies and external regulations and are responsive to fraud attacks
- Act quickly and decisively when any risk and control weakness becomes apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees
- Communicate and escalate to seniors on gaps and progress of gaps closures
- Implement the Operational Risk Framework in Retail Risk Operations and monitor the operational risk metrics to identify potential control weaknesses
- Re-engineer process to identify fraud and deliver desired client experience across all channels/products
- Strong collaboration and concerted efforts with key stakeholders/partners (e.g. Retail Clients Risk, GIS, L&C, FCC, GCI, ID, Operations, product/business teams, etc.) by
- sharing information on fraud trends and identifying emerging fraud threats
- leveraging on common tools, information and processes
Processes (FRM Operations)
- Provide support to global standard operational models, centralization and automation
- Accountable for pre-booking scenarios development / fine-tuning to influence detection rates and FPR.
- Accountable for post-booking scenarios development / fine-tuning to influence detection rates and FPR.
- Work closely with the RAC for CPP identification using data analysis and hit rates.
- Monthly review with Regional RO Heads as well as Regional RB Heads and other senior stakeholders.
- Sharing of significant fraud MO, root causes and best practices are included in the Global standards.
- Support and provide feedback/guidance on issues faced within the region through performance review with Regional Head FRM Operation
- Ensure early detection. Identify and review emerging and current transactional fraud risk to fine tune the rules/parameters to enhance or improve detection rates and FPR.
- Design and develop a global standard application verification approach for both pre-booking and post-booking scenarios.
- Drive standardization and ensure post mortem investigative recommendations are fully adopted across SCB footprint. Ensure Lessons Learned shared with SCB countries on timely manner.
- Ensure successful implementation of the Memento Enterprise Fraud Solution across all markets. Review Fraud Detection Rules (Memento) appropriateness and effectiveness.
- Lead and drive standardisation, automation and consolidation through re-engineering and process improvement across markets - Global Application verification framework, RCWB, simplification of EIM and investigation processes.
- Develop fraud awareness programs and ensure country conduct fraud awareness training within country or GSSC CI unit and Lending Operational staff who receive and collate application documents.
- Develop and maintain fraud management capabilities, skills and infrastructure that are in compliance with both internal policies and external regulations
- Act quickly and decisively when any risk and control weakness becomes apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant countries.
- Support implementation of the Group Operational Risk Framework in Retail Risk Operations and monitor the operational risk metrics to identify potential control weaknesses
- Support identification, engagement and retention of high quality FRM professionals
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
- Ensure that holders of all critical roles are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks
- Lead through example and build the appropriate culture and values within the Fraud Risk Management team. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners
- Stay abreast with industry existing/emerging fraud risksIdentify and share industry best practices and work with the businesses for their feasibility and implementation
- Evaluate latest practices/tools to identify next generation fraud detection system
- Develop a collaborative relationship with regulators, peer banks and fraud risk industry forums to help detect and mitigate fraud
- Provide oversight across Retail Risk Operations team, ensuring compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements
- Embed the Group's values and code of conduct in Retail Risk Operations to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture
Qualifications and Skills
- Business Strategy and Model: Good working knowledge of Standard Chartered's Retail Clients business and that of peers in the industry
- Non-technical Skills: Strong written / oral communication and influencing skills. Ability to create effective work relationships within and across functions & borders
- Risk Management and Control: Good working knowledge of Standard Chartered's approach to risk management, specifically as applicable to Retail Risk Operations
- Governance, Oversight and Controls: Strong leadership capabilities and management skills, with the ability to deliver effective controls within Retail Risk Operations through both directly-managed and virtual team
- Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the role of Head, FRM Channels & Products
Diversity and Inclusion
Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.