Ensure close monitoring of fraud alerts by iCIMB (outsourced service provider) in accordance to established SOP/processes & 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 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 as well as Group
Ensure all investigations are completed within the timeline set out in Group Fraud Risk Policy & Procedues
Act as key liaison for 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 Mules/Scam Management for CBSG
Prepare and attend to Fidrec adjudication with relevant stakeholders, if necessary
Evaluate all CBGS Fraud & Mules/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
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
Responsible for all CBGS audits relating to Fraud/Mules/Scam matters as well as regulator\xe2\x80\x99s queries
Execute plans ensuring implementation of Bank\xe2\x80\x99s risk management/compliance policies and framework for the Consumer Banking division
Key Requirements:
Minimum degree holder
At least 7 -10 years of relevant investigative experience in fraud risk and scams related areas will be preferred
Strong relationships with Law Enforcement Agencies will be a plus point
Technical & Regulatory Knowledge relationg to Fraud & Scams
Familiar with relevant Regulatory Acts/Notices/Advisories
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
Knowledge of Consumer Banking business practices, processes and procedures
Visa/MasterCard Rules and Regulations including chargeback process
Strong analytical skill and eye for detail
Good communication and interpersonal skills
Independent, versatile and able to perform under pressure
Analytical skills in data interpretation
Investigation skill & reports preparation
Proficient in MS Word, Excel,Powerpoint & Fraud systems
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