Our client, a leading Bank, is looking for an Enterprise Fraud Risk executive to build out their growing team.
23rd March, 2020
Job Description & Synthesis
The SVP, Enterprise Fraud Risk is responsible for the oversight and advisory activities at an enterprise level for fraud risk management. This involves the development and implementation of the 2nd Line of Defense governance model, policy and reporting metrics to monitor both internal and external fraud risk. The Enterprise Fraud Risk Manager provides independent review and challenge to the 1st Line of defense business and support units, and affiliates, to ensure that the Enterprise fraud risk profile is fairly presented in ongoing reporting. Periodic escalation required to executive management and the Board when the Enterprise's fraud risk profile is at or near risk appetite. As part of enterprise Operational Risk Management, this position is responsible for providing oversight for a clear engagement model between the 1st Line of defense Risk and Fraud teams, the 2nd Line Operational Risk Management team, and the Fraud Risk Centre of Expertise to ensure adequate and appropriate capabilities in managing fraud risk. The role also provides fraud risk management leadership to the Bank which includes the provision of expertise, advice, and counsel to executives and senior management and enhancing their ability to anticipate and manage internal and external (cybercrime, financial fraud, identity theft, trading and sales fraud, etc.) fraud risks effectively.
Review and support the development of the fraud assessment universe to ensure comprehensive coverage of internal and external fraud and determine a risk-based approach to determine assessment frequency. Ensure adequacy of coverage for end-to-end processes that span multiple businesses.
Actively challenge assigned units/affiliates to ensure that the fraud risk profile is balanced, comprehensive and a transparent reflection of the bank compared to risk appetite.
Contribute to the review and in some cases sign-off of fraud risk assessments executed by the business including fraud risk assessment, deep-dive assessments, scenario analysis, and new product or change initiative assessments.
Work directly with the leadership team to embed an understanding of the fraud risk profile and risk appetite into strategic decision making; challenge decision making that contradicts profile and risk appetite.
Provide oversight, analysis, and monitoring of the Bank's internal and external fraud risks.
Support the reporting of fraud risk profiles, analysis, and exposures to the Executives, Senior Management and on a regular basis. Reporting should include existing and emerging areas of risk, implications for operational risk appetite, and the ability of the risk management and control infrastructure to support business activities.
Identify requirements for deep-dive, initiate or lead deep dive assessments in the bank, as required.
Participate in committees or associated governance/review activities on key business initiatives ensuring that existing and emerging fraud risks for new products, processes and transformational initiatives are identified.
Manage the engagement model and associated interaction between stakeholders including Enterprise Operational Risk Management, the 1st Line Risk Management teams, the Fraud Risk Centre of Expertise, relevant Risk Management teams, and Operational Risk Centers of Governance, etc.
Minimum 10 years in a combination of fraud risk, risk management, cyber or financial crime investigations, responsible for fraud or white-collar crime investigations within a government or state agency or other experience in managing internal/external fraud.
Minimum 8 years of banking/financial services and/or technology industry experience.
Expert knowledge of Fraud Risk Management frameworks, policies, and practices
Strong leadership skills
Proven business knowledge within the assigned Platform
Strategic mindset, with excellent knowledge and understanding of banking/financial services
Highly developed ability for conceptual thinking
Excellent communication and presentation skills
Well-developed impact and influence skills
Proven track record of building strong relationships across business functions
Law enforcement or investigative background
Experience in cybercrimes, financial fraud investigations, trading or sales fraud investigations