Job Description

Responsibilities

• Oversee the daily functions and Fraud Management Team, Consumer Banking (CBGS) Singapore
• Responsible for the handling of Consumer Banking Group Singapore (CBGS) both internal/external Fraud Risk events as well as Mules/Scams for all Products and Services end to end
• Responsible for the handling of reported Fraud/Mules/Scams events ensuring timely escalation and effective measures and recovery plans are taken to minimize financial loss to customers and/or the Bank
• Ensure CBGS adheres to the procedures and processes as set out in Group Fraud Risk Policy & Procedures as well as applicable BNM/MAS regulations/advisories
• Manage Fraud risk, Financial risk, Reputational risk, Customer Risk etc by assisting BUs with implementing of processes to minimize loss events while maintaining and adhering to the Bank\xe2\x80\x99s corporate intents and objectives
• Work with Regional/Singapore Fraud Management/ Compliance and other counterparts in managing fraud and mules/scam related risks for CBGS ensuring Fraud Monitoring Systems are robust
• Ensure close monitoring of fraud alerts by iCIMB (outsourced service provider) in accordance to established SOP/ process or procedures, avoid fraud losses and ensure timely follow-up actions are taken to mitigate losses
• Performs Fraud Monitoring, Detection & Investigations with relevant stakeholders eg iCIMB/Non Retail Financial Risk (NFRM)/Customer Experience Team (CXM) etc and assist with the response to customers/regulators/ABS/Fidrec who has reported the fraud/mules/scam incident
• Escalates cases with defined escalation criteria to Fraud Risk Management, Singapore to determine if cases should be escalated to Group Corporate Assurance for further investigation
• Take reasonable measures to recover financial losses and perform corrective actions based on recommendations and investigation report
• Responsible for periodic and monthly reporting and dashboard as required by Fraud Risk Management Singapore, Compliance SG as well as Group
• Ensure all investigations are completed within the timeline set out in Group Fraud Risk Policy & Procedures and applicable Process and Procedures
• Act as key liaison for Consumer Banking (CBGS) Fraud Point-of-Contacts which will be all the DCOROs. Ensure the timely escalations by CBGS DCORO of all Fraud Investigation Preliminary Assessment Report to Fraud Risk Management, SG
• Work closely with relevant stakeholders (eg Compliance, Legal and Fraud Risk Management on institutionalizing strategies of the applicable procedures and policies relating to Fraud and Scam Management for CBGS
• Prepare and attend to Fidrec adjudication with relevant stakeholders, if necessary
• Evaluate all CBGS fraud/scam cases to identify recurring fraud patterns any gaps. Suggest improvements and work with DCOROs and relevant stakeholders on process change, if necessary
• Regular evaluation and review of existing Fraud rules and ensure efficiency in detection of credit card fraud transactions and online Clicks monitoring rules
• Perform gap analysis on current controls to ensure sufficient mitigating controls are in place.
• Keep abreast of industry best practices, advisories, consultation papers and consider for adoption within CBGS
• Strategic role to deliver and implement a sound anti-fraud risk strategy in protecting the customers and the Bank
• Devise fraud-specific road map and recommend innovative solutions using technology & or processes to manage, assess, monitor and mitigate these key risks
• Develop and ensure the Fraud Risk Management framework is effectively embedded and a sound fraud risk awareness culture within CBGS
• Credit card fraud losses are recoverable and actual losses are within acceptable levels
• Outsourcing vendors are compliant with requirements set by Outsourcing committee /SLA requirements set by CIMB
• Act quickly and decisively when any risk and control weakness becomes apparent during investigations and ensure these are addressed within an appropriate timeframe and escalated to the relevant stakeholders
• To develop and ensure improvement of the operational efficiency and effectiveness of fraud management procedures and processes for CBGS
• Ensure all audit reviews relating to Fraud/Scams obtain a satisfactory result.
• Facilitate in identifying a new and effective Fraud/Scam monitoring system with relevant stakeholders as per management direction
• Provide directions, guidance and responsible to ensure optimal productivity and performance of the team & outsourced service provider supporting the Fraud functions
• Work closely with internal and external stakeholders by building strong rapport and escalate issues to management in a timely manner
• Develop a collaborative relationship with regulators, SPF, Anti-scam Centre, peer banks and fraud risk industry forums to help detect and mitigate fraud
• Develop processes which have controls in place ensuring compliant to all regulatory requirements Ensure all set sales processes and procedures comply with internal, group and relevant regulatory guidelines
• Responsible for all CBGS audits relating to Fraud/Mules/Scam matters as well as regulator\xe2\x80\x99s queries
• Lead the implementation of Bank\xe2\x80\x99s risk management/compliance policies and framework for the Consumer Banking division
  

• Possess a Degree in any discipline
• Minimum 7-10 years of relevant experience in fraud risk and scams/mules related areas
• Technical & Regulatory knowledge relating to Fraud & Scams
• Strong relationships with Law Enforcement Agencies will be a plus point
• Familiar with relevant Regulatory Acts/Notices/Advisories
• Strong analytical skill and eye for detail
• Good communication and interpersonal skills
• Independent, versatile and able to perform under pressure
• Knowledge of Consumer Banking business practices, processes and procedures
• Understanding of Fraud system eg Falcon, Net Reveal, Nice Actimize and behaviour will be an added advantage
• Visa/MasterCard Rules and Regulations including chargeback process
• Complaint Management matters on fraud and authorizations areas
• Proven track record of managing complex investigations with excellent analytical , problem-solving & risk mitigation
• Strong understanding of changing fraud and scams typologies in the financial industry for Consumer Banking