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About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
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.
The Role Responsibilities
Strategy The Director, 1 st Party Fraud Risk for Commercial and Corporate & InstitutionalBanking is a permanent role that requires strong business acumen and deep knowledge and experience in the Fraud Risk field. The role will focus on 1 st party fraud committed by clients of the bank, against the bank. This is generally perpetrated within the Credit process against Lending and/or Trade Finance products. The successful candidate is required to:
have a strong understanding of operating in a second line capacity within a Fraud risk management function
respond flexibly and collaboratively to evolving business, regulatory and threat requirements
work closely withthe CFCC organization and other stakeholders to manage 1 st Party Fraud Risk across multiple jurisdictions.
provide oversight and challenge of Fraud risk management and control effectiveness as a risk management partner to the Business under delegation from the Head, Fraud Risk
Provide input on Business operating model of Fraud Risk management design of relevant FCC and business processes
Support and implement the vision, strategy, direction for Fraud Risk in consistent with the vision and strategy for FCC and in support of the Group's strategic direction and growth aspirations
Business This position will ensure that the management of Fraud risk is operating effectively and efficiently within the relevant Business. The role will also:
provide assurance that Fraud Risk is appropriately managed within the relevant Business.
work closely with the Head, Fraud Risk, Head of Fraud Operations, and the Business CROs, COOs, Product Owners, CISO, CIOs and Operational Risk Officers, as well as other key stakeholders to drive fraud risk management requirements,
set priorities for Fraud risk strategy and investment based on acceptable risk tolerance and taking into account the evolving threat and regulatory landscape, policies and standards, and technology infrastructure.
Provide regular Fraud Risk reporting and management information to aid decision making and support
Processes Working with the leads for Lending Fraud and Trade Finance Fraud, the major functional activities that this role will support 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; specifically products, processes and projects.
Escalating 1st line activities if they are not in line with existing or adjusted Risk Appetite;
Promoting a healthy Fraud risk culture and good conduct within the business lines.
Working with the Team leads for Lending and Trade Finance, develop, keep up-to-date and recommend for approval by the relevant Risk Committee, appropriate policies/processes/DOIs to address Fraud risks, aligning with relevant regulatory requirements.
Providing governance and oversight over the implementation of Fraud-related policies and procedures/standards in and stress compliance with such policies and procedures/standards.
Act as Process Owner for Fraud-related FCC-owned (sub-) processes under the Group's Risk Management Framework, including implementation and roll-out of relevant processes and DOIs.
Provide advice to relevant stakeholders on compliance with Group standards relating to Fraud.
Act as (second line) Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to Fraud Risk Management, and escalate issues as appropriate
People and Talent
Lead through example and build the appropriate culture and values.
Set appropriate tone and expectations from team and work in collaboration with risk and control partners.
Uphold and reinforce the independence of the second line Fraud Risk function.
Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
Develop communications strategies and plans that deliver timely and relevant messages to the right stakeholders through appropriate activities and channels
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.
Work as part of a team or independently and in a professional and efficient manner, closely tracking deliverables and commitments.
Maintain oversight of risk mitigating action plans
Understand technical aspects of systems relevant to Fraud risk management (surveillace, case management, event escalation and risk reporting).
Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
Apply Group and FCC policies and processes to manage risks.
Make (and/or implement) recommendations to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.
Inform stakeholders of serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and/or activities are ceased.
Implement Fraud risks identification and assessment methodologies.
Provide guidance and support for Country risk assessment, as needed.
Map risks, quantify the potential impact and escalate where necessary.
Deliver/ support delivery of annual Global Fraud Risk Assessments .
Establish strong ties into the relevant 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 the Bank and utilise for the ongoing governance process established within the Bank.
On a request basis, attend relevant risk committee meetings
Maintain oversight of fraud risk governance in region/country/function.
Ensure tracking and remediation of surveillance and investigations related regulatory findings.
In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
Prepare and cascade lessons learned from audit findings, FCC assurance activities and specific investigations.
Track significant Fraud-related issues arising from FCC metrics, FCC Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
Support all fraud-related control checks undertaken by FCC under the Operational Risk Framework (ORF).
Provide periodic reporting and timely escalation of significant fraud risks and issues arising from FCC Monitoring and Assurance activities.
Be accountable for identification and escalation of potential Fraud risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
Define metrics and/or key risk indicators (KRI) for Fraud Risk
Collate, analyse and interpret data in reports to senior management and relevant governance/risk committees.
Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability
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. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Support 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
Business Information Security Officers
Business Operational Risk Officers
Business Financial Crime Officers
Business Compliance Officers
Anti-Bribery and Corruption Officers
Head of Shared Investigation Services
Head of Global Special Asset Management
Establish strong relationships with team members and identified stakeholders across the business lines and understand their strategic goals, in order to ensure Fraud risk alignment.
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.
Measure efficient and effective management of Fraud risk 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.
Build trusted working relationships with other functional heads, risk and compliance counterparts, and business unit stakeholders.
Utilise appropriate risk management tool(s) to manage, track and monitor Fraud risks across the business lines.
Maintain sufficient and appropriate evidence of work performed for review by Group Internal Audit and others.
Monitor, assess and advise business lines on acceptable risk tolerances based on policy and control environment and the evolving regulatory and threat landscape
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.
Bachelor's Degree in Engineering, Criminology, Finance & Accounting, Law, Business Management, or other related discipline preferable.
12+ years of overall experience with 5+ years of experience in fraud risk in Commercial or Corporate Banking.
Graduate degree (Master's) and/or professional certifications have an advantage (e.g., CISA, CFE, CPA).
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.
Strong analytical and program management skills.
Experience in a geographically dispersed organization.
Ability to collect and analyse data, establish facts, and make recommendations in written and oral form.
Ability to liaise with all parts of the Bank, including risk and business stakeholders.
Excellent oral, written and communication skills.
Apply now to join the Bank for those with big career ambitions.