Head, Fraud Risk -Payments & Digital

  • Negotiable
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 15 Jul 18 2018-07-15

About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East. We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.


Strategy

The Head, Fraud Risk for Payments & Digital is a permanent role that requires strong business acumen in areas of Payments, Digital Banking, new age technologies & Cyber Security with deep knowledge and experience in the Fraud Risk field. The successful candidate will have a strong understanding of operating in a second line capacity within a Fraud risk management and cyber security organisation, and can respond flexibly and collaboratively to evolving business, regulatory and threat requirements. The role reports directly to the Head, Fraud Risk and is part of the Group Fraud Leadership Team.

Business

The primary purpose of this position to ensure that the management of Fraud risk is operating effectively and efficiently and to provide assurance that Fraud risk is appropriately managed within the relevant Businesses. The role will support the Head, Fraud Risk in their role as the Bank's executive accountable for Fraud risk. The successful candidate will work closely with the Head, Fraud Risk and the Head of Fraud Operations, as well as other key stakeholders.

Processes

The major functional activities that this role will lead and manage are:

  • Delegation of Authority from the Head, Fraud Risk for Fraud risk management engagement with business lines;
  • Overseeing and challenging 1st line Fraud risk proposals and risk-taking activities;
  • Intervening in 1st line activities if they are not in line with existing or adjusted Risk Appetite;
  • Monitoring of Fraud risks and associated remediation plans across business lines;
  • Assuring the 1st line implements controls to comply with applicable laws and regulations as defined by the Fraud Risk Policy team and escalate significant regulatory non-compliance matters and developments to the Head, Fraud Risk;
  • Promoting a healthy Fraud risk culture and good conduct within the business lines.
People and Talent
  • Set appropriate tone and expectations from team and work in collaboration with risk and control partners.
  • Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
  • Responsibility to review team structure/capacity plans.
  • Define an organization structure aligned and scaled to the risk control needs of the business lines.
  • 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.
  • Uphold and reinforce the independence of the second line Fraud Risk function.
Risk Management
  • Deliver the defined aspects of the Fraud Risk role to support the Group's Fraud risk management approach and objectives.
  • Ensure that the Fraud risk role is managed in accordance with the defined Fraud Risk Framework and associated Policy and Standards; and that issues are identified, escalated, and addressed as appropriate.
  • Manage the Fraud Risk team professionally and efficiently, closely tracking deliverables and commitments.
Governance
  • Establish strong ties into the relevant business lines governance, risk and control committees to ensure adequate monitoring, tracking and governance of Fraud risk.
  • Drive integration of Fraud Risk Framework and associated Policy and Standards into business lines and utilise for the ongoing governance process established within the Bank.
Regulatory & Business Conduct
  • Display exemplary conduct and live by the Group's Values and Code of Conduct.
  • Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the Bank.
  • Lead the Fraud risk team to achieve the outcomes set out in the Bank's Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment].
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association.

Other Responsibilities
  • Articulate the value of Fraud risk controls and their bottom line impact, regulatory and reputational cost to client-facing business lines.
  • Prepare, present and challenge in a 2nd line capacity at relevant risk committees, steering groups and cross-business opportunities.
  • Perform Delegation of Authority (DoA) responsibilities for Fraud Risk as defined for the business lines.
  • Validate the accuracy of KRI's and KCI's and other risk ratings, as well as process designs, to meet policy requirements.
  • Ensure that Process Owners are escalating risk, control, and process deficiencies appropriately in accordance with the relevant risk frameworks.

Our Ideal Candidate
  • Proven experience in a Fraud risk management, senior governance and policy, Fraud investigation, or audit role, preferably in the Fraud risk field.
  • Thorough understanding of Banking business processes & products, risks, threats and internal controls.
  • Experience working in or with the financial services industry with keen understanding of business and operational environments.
  • Strong leadership, negotiation and collaboration skills, and ability to work effectively in a complex multicultural and multi-time zone organization.
  • Experience in leading a geographically dispersed organization.