The Role Responsibilities
The Director, Fraud Risk Management, Payments & Digital is a permanent role that requires strong business acumen and specialist level competency in fraud risk management within the Payment Fraud domain:
- The role acts in a subject matter expert capacity for Fraud across all Business, Functions & Venture areas - Corporate, Commercial & Institutional Banking (CCIB), Consumer Private and Business Banking (CPBB) and Support Functions (e.g. Treasury, Finance, Supply Chain).
- And covers all forms of Banking products and Channels ranging from Current & Savings Accounts, Card Products, Business Corporate & Commercial Banking products, Digital channels, Self-Service Terminals, Branch Banking, etc.
- The role reports directly to Head, Fraud Risk Management, Payments & Digital. This role will sit within Conduct, Financial Crime and Compliance (CFCC) function and will carry only second line of defence (LOD) responsibilities in collaboration with the CFCC advisory teams who are aligned to Businesses and Functions.
- SCB footprint is primarily in the Asia, Africa, and Middle East region, most business and functional stakeholders & staffs in your team are also located in the Asia region. We expect the candidate to work flexibly from their base location in supporting the Asia time zone.
Core Responsibilities (Fraud Risk Management):
Protect clients and the Bank against current and emerging fraud schemes across segments, products, and channels
- Drive a mindset shift that prioritizes protecting our client and the Bank from fraud is the right thing to do.
- Establish measurement of client experience for continuous improvement and feedback.
Minimize financial loss, regulatory fines, and reputational damage because of fraud events
- Drive capability improvements in fraud controls within the 1LoD to achieve risk buy down.
- Ensure policy, standards, processes, and tools are institutionalised and are operating effectively.
- Embed effective response & recovery processes for priority fraud schemes.
- Reduce recurrence and fraud impact, through proactive reviews, investigations, lessons learnt and continuous improvement of controls.
- Enhance 1LoD & 2LoD fraud reporting capabilities, which is accurate, timely and provides insights & trends.
Stay ahead of client, regulator, board, and community expectations in combatting fraud
- Design a proactive control framework and threat led risk management practice that is forward looking, and intelligence led.
- Strengthen 2LoD Oversight & Challenge activities at Group, Region and Country, which is timely, cost effective and efficient.
Enable the business to develop innovative customer journeys that balance fraud risk with customer experience, operational efficiency, and drive revenue
- Design fraud controls that balances client experience, operational efficiency, and risk appetite.
- Embed culture of proactive fraud risk management and ownership in 1LoD, rather than just events.
- Collaborate with 1LoD to design an enterprise-wide approach to Fraud, which leverages investments & operations. across other risk types to help reduce cost of controls.
Make Group Fraud Risk Management a great place to work
Broader Responsibilities Strategy
- Establish a culture of high performance, accountability, results, and execution focus.
- Prioritise colleague welfare, recognize and reward them on a timely basis.
- Build a future ready workforce through investment in learning and development.
- Embrace new ways of working.
- Regularly undertakes assessment of business strategies and priorities, and its impact on fraud risk management.
- Advise business to create fraud risk management strategies, due to a changing and evolving business, regulatory and threat environment.
- Drive and influence change initiatives that target improvements of fraud risk management capabilities.
- Provide advice and support to business and functions on fraud risk management.
- Work closely with the wider CFCC to deliver advice to the Group, Region and Country CFCC team to enable effective oversight and governance in the Country.
- Work closely with the first line of defences (stakeholders list is given below) to drive fraud risk management outcomes.
- Provide regular fraud risk management reporting and management information to aid decision making and support.
People and Talent
- Promoting a healthy fraud risk management culture and good conduct within the business lines.
- Providing governance and oversight over the implementation of fraud risk management policies and standards in the Region and Country to ensure compliance with such policies and standards.
- Provide advice to relevant stakeholders on compliance with fraud risk management policies and standards.
- Lead through example and build the appropriate culture and values.
- Maintain appropriate tone and expectations within team and work in collaboration with risk and control partners.
- Engage in ongoing training and development to ensure that role holder is suitably skilled and qualified for the role.
- Uphold and reinforce the independence of the second line fraud risk management function.
- Promote and embed a culture of openness, trust, and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
- Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
- Identify and Monitor fraud threats, vulnerabilities, and risks.
- Drive and influence enhancement for fraud risk management internal controls.
- Collaborate with adjunct Risk and Policy Owners in Credit Risk, Conduct, Anti-Money Laundering, Anti-Bribery & Corruption, and Cyber Security to deliver collective outcomes.
- Advise 1LOD, 2LOD and 3LOD stakeholders on fraud risk management.
- Drive and influence corrective actions on the back of fraud trigger events.
- Analyzes complex reports as revealed by the data and provides fraud risk management insights to decision makers.
- Develops and implements fraud risk management strategies in response to those insights.
Regulatory and Business Conduct
- Drives and influences adoption and implementation of Fraud Risk Framework, Policy and Standards.
- Oversee fraud risk management in Regional and Country risk forums and committee.
- Measures key benefits and drawbacks for fraud risk management practices.
- Display exemplary conduct and live by the Group's Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Contribute to the CFCC agenda to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients, Effective Financial Markets, Financial Crime Compliance, The Right Environment.]
- Effectively and collaboratively identify, escalate, mitigate, and resolve risk, conduct and compliance matters.
Our Ideal Candidate
- Business and Functions Compliance Officers
- Business and Functions Risk Officers
- Business and Functions Financial Crime Compliance Officers
- Business and Functions Operations Officers
- Business and Function Heads
- Regional Leads
- 10+ relevant experience working with Banks, Financial Institutions, or FinTech's, with a passion for Payments and Digitisation of Client journeys and Products
- 5+ years of extensive experience in Fraud controls across Banking Products, Processes or Operations in the Consumer Banking, Private Banking, and/or Corporate Banking domain
- Experience in Fraud Risk Management, either Global or Regional or Country level
- A background in Audit, Risk, or Regulatory Compliance management will be preferred
- Practical knowledge of or basic experience in adjunct or interconnected risk disciplines (e.g. Anti-Money Laundering, Anti-Bribery & Corruption, Information & Cyber Security, or Conduct Risk) is preferred
Role Specific Competencies
- Bachelor's degree in any discipline
- Professional certifications associated with Audit, Risk, Financial Crime, Compliance or Fraud will be beneficial (e.g., ACAMS, CISA, CISM, CRISC, CFE).
About Standard Chartered
- Business Acumen
- Risk Governance & Oversight
- Fraud Risk Management
- Fraud Reporting & Insights
- Regulatory Environment
- Managing Change
- Cross Collaboration
- Planning (Tactical & Strategic)
- Relationship Management
We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
- In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
- Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
- Flexible working options based around home and office locations, with flexible working patterns
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
- Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
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