Purpose: * 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 as regards to 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
Key Roles and Responsibilities
Risk Governance * 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 (PGC), Functional Operational Risk Committee (FORC) and Global Operational Risk Committee (GORC). * Ensure compliance on all fraud operational risk reporting requirements both internal and external fraud. * Maintain an open and cooperative relationship in dealings with regulators, peer banks and local fraud risk forums.
Risk Tolerance * 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. * Support Operational Risk Officers and Heads of Businesses and Functions in o Fraud Risk Policy and Procedure rollout o Operational Risk Assessments of Processes and Change initiatives for High Complexity Projects o Process re-engineering and fraud infrastructure initiatives
Qualifications and Skills
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
Fraud Risk Management domain experience > 5 years, to lead, develop and implement Fraud Risk Management policy and programs
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.
Results oriented, with demonstrable experience in driving complex change management initiatives
Strong grounding in project management and process improvement skills
Significant relationship management experience - with external stake-holders at the most senior levels including regulators, Associations and Law Enforcement agencies.
Expertise in process design and control. Designing and delivering simple and effective governance frameworks.
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.