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Junior Fraud Operation Analyst (Virtual Bank, Contract, up to 25k)
Allegis Global Solutions
February 20, 2021
Ensure effective performance in the fraud risk management function thru assisting the Lead of Fraud Operation as well as working closely with other team members to adhere to policies and guidelines, taking initiatives to identify risk areas and suggesting changes of control measures.
Working closely with internal support teams such as: Client Service Team, Fraud Surveillance team, Financial Crime Compliance and Customer Due Diligent, Legal, Compliance and Risk Second line of defence as well as within operation to investigate and deter fraud against the bank and its customers.
Manage the subordinates to handle daily operations of prevention of fraud risk and investigation processes of suspicious fraud cases.
The scope of the First line of defence is to ensure the integrity of the organization, including being responsible for assessing, controlling, and mitigating risks in regards to fraud.
Analyse fraud transaction patterns defrauding behaviours to advance fraud preventive device / measures in order to minimise fraud losses.
Analyse complex data to conduct link analysis and digital forensic and evidence finding. Monitoring the fraud trend, root cause and modus operandi where it discovered.
Recommend fraud charge-off on time in order to meet both audit requirements and Operations Risk Control measures
Ensure fraud recovery opportunities are fully optimised.
Maintain good relationship with law enforcement officials, Mastercard, card issuing / acquiring members and credit bureau in order to take efficient and adequate risk control measures to reduce losses.
Provide fraud training/ briefing to all relevant stakeholders within the bank whenever necessary.
Assist to develop effective fraud risk management strategies and timely deploy these strategies across products and channels
Identify industry best fraud risk infrastructure and management practices are tabled and are considered for adoption
Ensure that gross and residual fraud risks are understood and agreed with the respective business heads
Lead and drive standardisation, automation and consolidation through re-engineering and process improvement initiatives for Fraud Risk Management.
Develop and maintain fraud management capabilities, skills and infrastructure are in compliance with both internal policies and external regulations and are responsive to fraud attacks.
Develop, implement, monitor and provide performance tracking of fraud strategies and fraud prevention tools and processes.
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
Implement the Operational Risk Framework and monitor the operational risk metrics to identify potential control weaknesses.
Identify and track Key Performance Indicators (KPIs) to support strategy testing environment and daily operations.
Continuously improve the operational efficiency and effectiveness of fraud risk management processes.
Ensure effective recovery tracking process in place
KNOWLEDGE AND SKILLS:
Market Knowledge: – Awareness and understanding of the wider business, economic and market environment and evolving fraud landscape.
Solid experience and knowledge on card fraud, application and digital fraud risk investigation.
Business Strategy and Model: – Awareness and understanding of bank's Clients business and that of peers in the industry.
In depth knowledge about the threat landscape around Digital Banking channels and Payment systems.
Risk Management and Control: – The ability to identify, assess, monitor, control and mitigate risks to Bank.
Regulatory Framework and Requirements: – Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements.
Non-technical skills: - Strong written / oral communication and influencing skills. Ability to create effective work relationships within and across functions & borders. Proficiency in both English and Cantonese/Mandarin