Manager, Fraud Risk Management

CORE PROFILE 

The Manager, Fraud Risk Management  responsible for leading the development and implementation of fraud prevention and detection strategies related to lending and all bank services and products. This role involves managing a team, analyzing data to identify fraud trends, and collaborating with multiple departments to implement an aligned comprehensive fraud prevention strategy. The ideal candidate will have a strong background in fraud risk management, excellent analytical and communication skills, and experience with lending products.

NATURE OF WORK 

• Develop, Coordinate and Implement Fraud Prevention Strategies: Create, implement and execute comprehensive fraud prevention and detection strategies for bank products, both deposits and lending products.
• Manage all aspects of fraud management within the bank: This includes all fraud related to disbursements, operations and internal fraud.
• Subject Matter Expert for Fraud Management: Guides the Credit operations team on enhancements related to KYC, deduplication, detection and prevention systems on mitigating fraud.
• Team Management: Lead and manage a team of fraud specialists, providing guidance, training, and support to ensure implementation of antifraud commitments.
• Collaborate with multiple Departments: Work closely with InfoSec, Engineering, Product,  underwriting, risk management, compliance, and other departments to develop and maintain robust fraud prevention measures.
• Implement Fraud Strategies: Discuss with relevant stakeholders needed development to implement agreed fraud strategies for the banking products and services.
• Reporting and Analysis: Prepare regular reports on fraud activity, trends, and the effectiveness of fraud prevention measures for senior management.
• Collaboration with Fraud Analytics: Align with fraud analytics team on requirements for enhanced bank products and services monitoring and to take lead on any appropriate action needed on any issue that may arise
• Conduct Fraud Investigation: Periodical review of data in order to verify effectiveness and consistency of expected results of system set up versus the reality ensuring internal processed are working as expected
• Regulatory Compliance: Ensure all fraud and financial crime prevention and detection activities comply with relevant laws, regulations, and internal policies.
• Implement Technology Solutions: Evaluate, implement and optimize advanced fraud detection technologies and tools to enhance the organization’s fraud prevention capabilities.
• Fraud Risk Review: Evaluates new process / new initiatives / new products to ensure there’s no gap on fraud risk; propose control if there is any.

QUALIFICATIONS:

• Bachelor’s degree in Mathematics, Statistics, Finance, Accounting, Business Administration, or a related field. A Master’s degree or relevant professional certification (e.g., CFE, CAMS) is a plus.
• Minimum of 5-7 years of experience in fraud risk management, with a focus on lending products. Experience in managing a team is preferred.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Proficiency in using fraud detection tools and software.
• Ability to work independently and as part of a team.
• Strong organizational skills and attention to detail.
• In-depth knowledge of lending products and associated fraud risks.
• Familiarity with regulatory requirements related to fraud prevention in the financial services industry.