KEY RESPONSIBILITIES Lead the Fraud Department in delivering exceptional advisory, operational and fraud risk support to the business Develop and maintain a fraud strategy to protect customers and the Group. This includes fraud prevention, risk appetite, systems and controls roadmap, industry partnership and collaboration, analytics and rules management and operational task management Ensure all regulatory and compliance requirements are met and maintained including, AML-related transaction monitoring and reporting of suspicious activity to the nominated officer, analysis of fraudulent activity, resolution of disputed transactions, identification of efficiencies and productivity improvements Ensure that the Group can respond to financial crime threats as these emerge and evolve Implement customer fraud awareness strategies to inform the customer base of nationwide industry threats Accountable for all outsourced fraud set up, oversight and on-going management Ensure that fraud strategy and practice adhere to current and adjusts to future legislation/regulation Maintain a strong industry network to understand industry best practises and ensure the Group is industry leading Keep up to date with new technology to improve processes where necessary within the Group and understand how to combat cyber-crime. Full accountability and management of profit and loss budgets across Fraud and Financial Crime Lead the Disputes team to provide exceptional services to customers, meet SLA’s and minimise loss to the Group Operational execution of Financial Crime alerts covering customer screening, transaction monitoring, suspicious activity reporting, information requests from law enforcement, and identification of enhancements/ efficiencies Ensure a risk-based and proportionate quality control framework is operated across all operational processes, to give management confidence that activities are being completed in an effective and compliant way Plays a lead role in the design, implementation and maintenance of effective systems and controls related to the investigation and reporting of potential suspicious activity to the Nominated Officer, and identification of PEPs or customers subject to economic sanctions. Resolutions for claims against section 75 of the Consumer Credit Act. Work closely with the MLRO to drive the operational strategy for the Group’s customer due diligence checks and anti-money laundering requirements. Contribute to the AML strategy through identification of risks, trends and typologies Work closely with key stakeholders to ensure we have a consistent, joined up view on the totality of losses reported through our credit loss lines.
KNOWLEDGE & EXPERTISE Senior management experience, specifically managing a team of financial crime/fraud specialists Demonstrable insights and understanding gained from experience of the financial services market and credit card industry Demonstrable understanding of the key fraud, money laundering, terrorist financing and sanctions risks faced by the Group Detailed understanding of risk management and FCA/PRA regulations and approach Analytical capability to build effective, statistically relevant fraud prevention strategies Understanding of mathematical modelling and machine learning techniques, and technical knowledge of analysis through SAS / SQL
PROBLEM SOLVING Leads the development of the vision for the Group’s fraud strategy to ensure our customers and the Group are protected from fraud loss Maintains excellent up to date knowledge through external networking on fraud trends and identifies what risks these present. Informing stakeholders and ensuring clear steps are agreed through strategy and investment planning to ensure the protection of our customers and the Group from fraud loss is achieved. Liaison with industry bodies including the FCA, PRA, SOCA, CIFAS, APACS to identify appropriate operations challenges and emerging financial crime risks and influence industry initiatives against Fraud and Financial Crime Develops and implements innovative analysis and investigative techniques to enhance the ability to detect and report emerging fraud risk in a timely manner. Continually assess the operational risks associated with the role and taking into account changing economic, legal, technological and regulatory environments and captures through the Risk Frameworks.
LEADERSHIP RESPONSIBILITIES Leads and inspires the Fraud and Financial Crime department both on/offshore, working towards achieving and exceeding key performance indicators Ensures that the teams have a clear line of sight between their individual roles and the aims and ambitions of the departments and company objectives as a whole Creates a culture where the team can flourish and reach their full potential Inspires others through own actions, to ensure that regular and meaningful communications take place at the right time and using the right channels Leads by example and ensures all relevant performance management processes are carried out in line with the Group’s conduct rules and standard policies and procedures Sets the annual plans and budgets for the department and full accountability for P and L lines relating to the function Puts in place strategies that relate to fraud prevention (application fraud and Falcon), third party fraud (prevention and processing and chargebacks), first party fraud (prevention), financial crime (police liaison, screening, and AML transactional monitoring), disputes (processing disputes and chargebacks). Ensuring all key performance indicators are achieved. Leads the Fraud management team to effectively manage the daily fraud detection and prevention activities ensuring all relevant policies, procedures and standards are being implemented and met. Leads and develops the Fraud management team to develop a highly productive and motivated team of individuals who achieve and exceed targets and ultimately manages the level of fraud losses and recoveries Understand the significance of regulatory factors within the team and ensure processes adhere to relevant legislation Understand the commercial impact which fraud processes will have on the business so that they meet business risk appetite Build best-in-class fraud prevention processes to support the effective management of cyber security risks
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