Uk Gwm Fraud Risk Head

1 month ago

London, United Kingdom eFinancialCareers Full time

**Job Background/context**:

- Complex businesses distributed over multiple sites serviced by branch networks and internet banking platforms.
- Operations distributed in multiple locations in the UK, India and Malaysia.
- Alignment of fraud processes and controls will be required to meet various regulatory and Citigroup Global requirements and reporting standards.
The Job background is:

- Supporting the growth of UK Global Wealth Management (GWM) busines in accordance with the framework of the Wealth Management Credit Risk Policy and Credit Risk Appetite statement.
- Alignment of fraud and security incident management processes and controls will be required to meet various regulatory (such as PSD2, GDPR) and Citigroup Global requirements and reporting standards.

**Responsibilities**:
FRAUD UK: To manage the strategic fraud prevention & detection direction to the Fraud Operational Teams in order to protect UK GWM from organized crime
- Develop and execute fraud risk management strategies across all UK GWM products and across all fraud types
- To utilize/maintain/develop expert systems, knowledge and practices, investigate and monitor fraud attacks across the full product range.
- Proactively identify profiles, trends and patterns of fraudulent behavior and develop innovative mitigating actions to combat such activity, thus minimising the risk to the bottom line P&L. Use expert skills and practices to create and evolve analyticalmodels that enable all areas of customer interaction to be pro actively monitored
- Establish and implement long term improvements in systems and processes across the business in order to reduce the overall fraud exposure at any given time. Ensure system performance is optimised and has a strong audit trail.
- Provide communication to the wider stakeholders of larger fraud attacks identified, ensuring key knowledge on identified threats and behavior is shared and intelligence maximised. Share approach with regards to defences and long term strategy.
- Manage the team to complete high quality defect analysis and process gap identification to ensure constant improvement of operational and strategic processes.
- To project manage from a business perspective on new fraud projects. Ensuring all fraud risks are mitigated or removed. Ensuring risks are documented and assessed.
- Providing fraud consultancy to the project teams in order to mitigate risks and fraud threats.
- To represent the Fraud Teams on projects from a fraud analysis and systems perspective, enhancements and work requests identifying and evaluating fraud risks and designing controls and solutions to mitigate these risks in the live environment.
- Develop the team to provide industry intelligence liaison. Dealing with organised crime alerts and warnings from external parties such as the BBA, CIFAS, SOCA and UK Payments, thus ensuring critical fraud intelligence is utilised and disseminated acrossthe Financial Crime Unit. This especially applies to CPP'S and the need to have rigorous end to end process.
- Maximise potential data sources to use in building fraud defences and ensure data integrity and analytical quality across key reports and rules.
- Devise and deliver appropriate communications (including presentations, briefings and attendance at team meetings) across Citi UK GWM business so that the need for Fraud risk management is understood in these areas and what this means for their own rolesand accountabilities is known. Providing direction and support where necessary to all areas of the UK GWM business on fraud related matters.
- Drive the strategic direction of Fraud, whilst ensuring that through the relevant SLA's with support functions that all fraud systems are optimised to detect all potential fraud referrals. Undertake risk reviews of processes, products and areas to ensurethat all fraud risks have been identified, assessed and mitigated.
- Prepare annual Fraud Plans for both businesses to include description of threats, opportunities, financial forecast and gap analysis with detailed counter measures for each fraud category and appropriate approvals obtained. Annual Fraud Plan to reflectthe requirements of the Global Consumer Credit and Fraud Risk Policies (GCCFRP) Chapter 19 and GCCFRP Minimum Standards.
- Work in partnership with business areas to develop Fraud capability of the business. Equip individuals and teams with the skills, knowledge and experience to meet current and future business needs
- Represent Citibank at Scheme/Industry bodies and take actions to raise the profile of the Fraud function within the Group
- Ensure delivery of preliminary investigations and processing of all identified fraud. Manage the daily review process of the previous day's losses and agreement on tactical changes to detection system rules
- Review implementation of new processes to ensure effective controls are in place.
- Manage relationships with key contacts at Citi and other organisations and support the management of external relationships with the FSA, APACS and SOCA.
- To manage UK collections, and provide business direction and strategy across the UKC business lines for our processes and controls
- Ensure that the overall approach of the unit, including working practices and behaviours for the team are fully aligned and are operated in compliance with the core principles of Treating Customers Fairly (TCF). TCF must be an integral part of the way thatwe work and be at the forefront of our minds.

**Development Value**:

- Opportunity to develop and utilize a full range of skills in a fast growing and highly competitive market.
- Opportunity to work with experienced fraud prevention practitioners in the banking fraud world
- Opportunity to operate within a combined world-class fraud prevention and detection operation which is widely acknowledged as leading edge and innovative.

**Knowledge/Experience**: - Extensive and detailed experience of evaluating fraud risks and threats, particularly in the context of the UK & EMEA Markets.Knowledge of the debit card processes and le

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