Department : CB-Fraud Control
Grade: 08
Location : Bangladesh
Job Description
PURPOSE: Manage Retail Clients Fraud Risk activities and processes for Investigations effectively and efficiently aligned to business strategy for the country. Work with Manager, Fraud Risk Management and other stakeholders in the country for smooth functioning of Fraud risk management processes and activities. Manage fraud risk, assisting businesses with implementing the ‘best in class’ tools & processes to minimize fraud losses while maintaining and adhering to customer charter goals and objectives. < Key Roles and Responsibilities br />RESPONSIBILITIES:
To responsible for effective fraud management of all Retail Client products both lending & non-lending and guide to achieve the bank’s common goal
Ensuring pre-booking fraud prevention tools are in place – including use of data based alerts (FDS / SAS rules) and sampling to identify suspicious cases
Ensuring the alerts as defined in the investigation framework are investigated effectively and process / control improvements to optimize the balance sheet are put into place
To drive Investigation Team to ensure effective fraud control, including recovery on identified fraud cases and effective recovery tracking process in place in the country
To engagement on regulators and stakeholders
Completing adherence to Group Investigation framework guidelines
To alerts generated, investigations quality and timelines as per the investigation framework
To process standardization and simplification is embedded
To drive implementation of various projects/initiatives taken by country management and group office at different times
Managing fraud risk, assisting businesses with implementing the ‘best in class’ tools & processes to minimize fraud losses while maintaining and adhering to Customer charter goals and objectives
To make creative decisions to resolve issues of day-to-day fraudulent and suspicious issues/incidents including application frauds received from Credit Units and other various sources and close matters upon investigating with effective solutions to minimizing the recurrence of similar type of incidents in future
Responding to any emergency situation relating to Fraud Risk and handle sensitive issues with utmost care & in liaison with the concerned units so as to settle those issues in an amicable manner to minimize the potential adverse effect
Ensuring various fraud risks are being actively prevented, detected and investigated in a timely manner on an end-to-end and process based basis
Managing overall operations of the unit and maintain/establish effective controls over the processes in which we operate in an organized manner with efficient MIS/information so as to respond to regular and any emergency needs of the local management as well as the groups
Ensuring fraudulent activities are timely tracked and mitigating steps initiated to pre-empt further fraud losses and future risks of the similar nature of fraud to the Bank
Coordinating the collation of fraud loss data, investigative root cause analysis, external industry information for reporting to stakeholders
Coordinating gathering/ Sharing of market fraud intelligence to drive current and future fraud containment strategies
To identify, assess, and implement leading technology solutions to reduce fraud loss
Placing requisition with the concerned unit (Asset Ops/Account service, Call Centre, Branches, Item Processing, Support Service) for retrieval of the original documents/AOF/PO/Cheque leaf & others required documents as per the laid down guidelines as well as retrieve the selected original applications from concern department
To responsible to block credit facilities/Account/instrument for Suspected fraud case
Conducting face-to-face interview with the concerned source/stakeholders/officials/customer/vendor with proper invitation to the respective unit responsible
Conducting external/internal visit to gather information for investigation and/or audit purpose
Providing training and feedbacks to staff in Credit Underwriting, Operation Team, Sales, branch and other relevant units in light of findings of the investigation reports
Strategy:
• To support and provide inputs to Manager, Fraud Risk Management for developing operational model and shaping strategic agenda for Fraud risk management and implementing the strategic direction for the country.
• Expanding fraud detection tools for other areas (e.g. Enterprise Fraud Solution Coverage) to enable the unit to detect/deter staff related fraud attempts and/or process/policy violation.
Business:
• Ensuring the Fraud Risk Management framework is effectively embedded and communicated across Retail Customers segment.
• To develop a proactive, independent, balanced and a fraud risk awareness culture within the organisation
• To develop effective fraud risk management strategies and timely deploy these strategies across products and channels
• Identifying industry best fraud risk infrastructure and management practices are tabled and are considered for adoption within the country
• Ensuring that gross and residual fraud risks are understood and agreed with the respective business heads in the country
Processes:
• Developing standardise process on case management and fraud loss recognition
• Ensuring Lessons Learned are shared with country stakeholders and SCB countries as appropriate
• Driving standardization and ensure post mortem investigative recommendations are fully adopted across SCB footprint
• To lead and drive standardisation, automation and consolidation through re-engineering and process improvement initiatives in the country in generation of alerts for fraud investigation
• To develop and conduct fraud awareness programs/training for the stakeholders/CI/Operation
• To develop and maintain fraud management capabilities, skills and infrastructure that are in compliance with both internal policies and external regulations
• To act quickly and decisively when any fraud risk and control weakness becomes apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees
People and Talent:
• Ensuring that holders of all critical roles are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any Fraud risks
• To lead through example and build the appropriate culture and values within the Fraud Risk team in the country. Set appropriate tone and expectations from the team and work in collaboration with risk and control partners
Risk Management:
• Identifying Industry best fraud risk infrastructure and management practices that are tabled and are considered for adoption
• To monitor and ensure compliance with all relevant policies, guidelines, process manuals and standard practices currently in place at all times
• Demonstrating strong anticipatory & analytical skills in assessing the situations with good understanding of fraud risk within Retail Risk
• To identify and share industry best practices and work with the businesses for their feasibility and implementation
• Developing a collaborative relationship with regulators, peer banks and fraud risk industry forums to help detect and mitigate fraud
Governance:
• Providing oversight across fraud risk management team, ensuring compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements. This includes compliance with local banking laws, other applicable laws and anti-money laundering regulations and guidelines
• Embedding the Group’s values and code of conduct in the country fraud risk management team to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees forms part of the culture
• To accountable for satisfactory closure of issues / gaps arising from Internal Audits, peer reviews and regulatory reviews for the country.
Key Stakeholders:
Internal stakeholders
o Regional / Country Business Heads and Product Head, Retail Client segment
o Financial Crime Compliance
o Group Compliance Investigation
o Country Collections Head and Policy team
o Relevant members of Risk Operations Management Team
o Internal IT partners supporting Retail Clients business
o Operations, Account Service, Branch, Item Processing, L&C and Customer Experience Management unit
o HR Team
External stakeholders
o Auditors and Regulators
o Associations (Regional / Local forums) and peer Banks
o Law Enforcement agencies
o Suppliers, vendors and consultants
o Government Officials (Election Commission, City Corporation, Tax Official, BRTA, BTCL etc)
Qualifications and Skills
KNOWLEDGE AND SKILLS: Market Knowledge: – Awareness and understanding of the wider business, economic and market environment in which Standard Chartered Bank operates. Business Strategy and Model: – Awareness and understanding of Retail Clients business Risk Management and Control: – Good working knowledge on risk management, specifically as applicable to Retail Risk Operations Governance, Oversight and Controls: – Strong leadership capabilities and management skills, with the ability to deliver effective controls within Fraud Risk Management through both directly-managed and virtual team Regulatory Framework and Requirements: – Awareness and understanding of the regulatory framework, in which the firm operates, and the regulatory requirements and expectations relevant to the role. Non-technical skills: – Strong written / oral communication and influencing skills. Ability to create effective work relationships within and across functions & borders Education:- • Minimum graduate from a well reputed university. MBA/Master Degree will carry an advantage • Expertise on SAS will be an added advantage • Experience in managing Fraud/AML/Compliance investigation functions will be highly valued • Ability to handle complex situations, ability to make decisions and action accordingly • Strong inter-personal skills • Ability to prioritize, cope with a wide range of duties and flexibility to deliver within short deadlines
How To Apply
You can search and view current opportunities across our organisation and apply immediately by visiting www.standardchartered.com and selecting Careers. To help speed up your application, please note the following:
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It usually takes 15 – 20 minutes to complete the application form; you can save your application at any time and return to complete it at your convenience.
Closing Dates
The closing date for applications is 24/05/2016. Please note all closing dates are given in Hong Kong time (GMT + 8 hours). We aim to respond to successful applicants within four weeks and will keep a record or your application in our database so that we can contact you when suitable vacancies arise in future.
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.