Job Description

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Responsibilities:

Strategy and Planning

• 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 & Procedures.
• 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 CBGS.
• 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.

Business Performance and Management

• 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.

People Management

• Work closely with Fraud Management Team Lead, internal and external stakeholders by building strong rapport with them.
• Develop a collaborative relationship with regulators, SPF, Anti-Scam Centre, peer banks and fraud risk industry forums to help detect and mitigate fraud.
• Team player.

Regulatory Compliance

• 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\'s queries.
• Execute plans ensuring implementation of Bank\'s risk management/compliance policies and framework for the Consumer Banking division.

Requirements:

Qualifications

• Degree/Diploma

Professional Qualification and/or Regulatory, Licensing Requirements

• Technical & Regulatory Knowledge relating to Fraud & Scams

Relevant Work Experience

• At least 5-10 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/Functional Skills

• 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
• Proficient in MS Word, Excel, PowerPoint & Fraud systems
• Analytical skills in data interpretation
• Investigation skill & reports preparation
• 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

Personal Skills (Soft Competencies)

• Good communication skills, written and spoken with the ability to communicate at all levels
• Planning and Organising

CIMB