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As a member of the FRM family, you will be the first line of defence of fraud detection and prevention. You will lead a small team of subject matter expertise to oversee the digital and card fraud control unit for the Virtual Bank. Your primary responsibility is to ensure the efficient and effective execution of the fraud management, monitoring, investigations and preventions measures, at the same time making sure seamless customer experience.
As you begin, you will be in the development squad when you collaborate closely with the Fraud Risk Policy Team (2nd line), to design the framework and operating model (strategy and processes), and work with our developers and service providers to create the platform. When we go live, you will manage the team which works in shifts, and provides 24/7 support to our customers. You will be at the forefront balancing management of fraud losses while creating a great customer experience to our customers.
You will need to have a strong background in digital fraud and/or card fraud risk operations, solid experience in dealing with card and the digital transaction fraud. You need to have strong awareness of the business dynamics of virtual banking, and its implications to the operating model. You will also need good analytical skills to detect current and emerging fraud trends.
What you need to do: BUILD
Based on the risk framework developed by the Fraud Risk Policy Team, you will develop an operating model to best support process efficiencies and effectiveness in Fraud Risk Management. The process should be able to identify and minimize fraud, at the same time deliver the desired client experience via the digital channels.
You will work with the developers and 3rd party service provider to develop the platform. You will oversee the development, test it out before launch. You will ensure the model is able to identify the emerging and current transactional fraud risk; you will fine tune the rules/parameters to enhance the detection rates and FPR.
You are familiar with the internal policies and external regulations, and ensure the rules and engines are built according to them.
You will develop the policies, standards and procedures.
You will select the right 1st line of defence talents to form the team which works 24x7 in shifts. You will develop a capacity model which is flexible to cope with the volume fluctuations.
You and your team will run the operation based on the established policy and processes. As the leader of the team, you will manage the team, and act quickly and decisively when risk and control weakness becomes apparent, and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
You will ensure the fraud recovery opportunities are fully optimised.
You will identify and track key performance indicators to support a strategy testing environment, daily operations and ongoing improvements.
You will analyse fraud transaction patterns to advance fraud preventive measures and minimise losses.
You will ensure that the gross and residual fraud risks are understood and agreed with the respective business heads.
You will recommend changes to the process control environment or to business practices to reduce the level of fraud risk exposure.
You will maintain good relationships with law enforcement officials, card issuers, acquiring members and credit bureaus in order to implement effective risk control measures.
Who we expect
Seasoned experience in FRM, first or second line of defence; of which a number of years holding a managerial position.
Solid knowledge of the Enterprise fraud management landscape for the scalable retail bank, and proven experience in the fraud detection investigations and analytics.
Prior experience in delivering the new business process or change management on fraud or related disciplines
Industry and market knowledge about the major service providers of the FRM platform, and experience in managing them as a vendor.
Customer centric yet able to strike the balance with controls.
Able to work around the clock.
Knowledge in card fraud management an advantage.
Internal Number: 5869959
About Standard Chartered Bank
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