Head, Fraud Risk

Job Description

StrategyThe Head, Fraud Risk India is a permanent role that requires strong business acumen and deep knowledge and experience in the Fraud Risk field covering all Business, Functions & Geographies. The successful candidate will have a strong understanding of operating in a second line capacity within a Fraud risk management organisation, and can respond flexibly and collaboratively to evolving business, regulatory and threat requirements. The role reports directly to the Regional Head, Operational Risk. This role will work closely with the Fraud Risk organization and other stakeholders to address Fraud Risk as an operational risk sub-type for the Bank and support its integration into the Banks overall Operational Risk and Enterprise Risk Management strategy. The role will provide oversight and challenge of Fraud risk management and control effectiveness in India as a risk partner to all Businesses, Functions & Geographies as defined in the Bank s Operational Risk and Enterprise Risk Management Framework and under delegation from the Group Head, Fraud Risk.BusinessThe primary purpose of this position to ensure that the management of Fraud risk is operating effectively and efficiently and to provide assurance that Fraud risk is appropriately managed within the relevant Businesses, Functions & Geographies. The role will support the India Head, Operational Risk in their role as the Banks executive accountable for Fraud risk in India. The successful candidate will work closely with the Group Head, Fraud Risk, India Head of Fraud Operations, and the Business CROs, COOs, CISO, CIOs and Operational Risk Officers, as well as other key stakeholders to drive requirements and help set priorities for Fraud risk strategy and investment based on acceptable risk tolerance and taking into account the evolving threat and regulatory landscape, policies and standards, and technology infrastructure.ProcessesThe major functional activities that this role will lead and manage are:Delegation of Authority from the Head, Fraud Risk for Fraud risk management engagement with business, functions and geographies;Overseeing and challenging 1st line Fraud risk proposals and risk-taking activities;Intervening in 1st line activities if they are not in line with existing or adjusted Risk Appetite;Monitoring of Fraud risks and associated remediation plans across business lines;Assuring the 1st line implements controls to comply with applicable laws and regulations as defined by the Fraud Risk Policy team and escalate significant regulatory non-compliance matters and developments to the Country Head of Operational Risk and Group Head, Fraud Risk;Promoting a healthy Fraud risk culture and good conduct within the business lines.Being familiar with Circulars issued by Reserve Bank of India, oversight of activities undertaken across the Bank to meet Circular requirements and attending to RBI queries/ reporting requirements from time to time.People and TalentLead through example and build the appropriate culture and values.Set appropriate tone and expectations from team and work in collaboration with risk and control partners.Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.Employ, engage and retain high quality people, with succession planning for critical roles.Responsibility to review team structure/capacity plans.Define an organization structure aligned and scaled to the risk control needs of the business lines.Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.Uphold and reinforce the independence of the second line Fraud Risk function.Risk ManagementDeliver the defined aspects of the Fraud Risk role to support the Groups Fraud risk management approach and objectives.Ensure that the Fraud risk role is managed in accordance with the defined Fraud Risk Framework and associated Policy and Standards; and that issues are identified, escalated, and addressed as appropriate.Manage the Fraud Risk team professionally and efficiently, closely tracking deliverables and commitments.GovernanceEstablish strong ties into the relevant business, functions and geographies lines of governance, risk and control committees to ensure adequate monitoring, tracking and governance of Fraud risk.Drive integration of Fraud Risk Framework and associated Policy and Standards into business lines and utilise for the ongoing governance process established within the Bank.Regulatory & Business ConductDisplay 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 the Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.Lead the Fraud risk team 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.Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association.Key StakeholdersBusiness CROsBusiness/Functions/Regional COOsBusiness/Functions/Regional CIOsBusiness/Functions/Country Information Security OfficersBusiness/Functions/Regional/Country Operational Risk OfficersBusiness/Regional/Country Financial Crime OfficersBusiness/Regional/Country Compliance OfficersGroup/Regional Anti-Bribery and Corruption OfficersRegional & Country Head of Shared Investigation ServicesOther ResponsibilitiesEstablish strong relationships with identified stakeholders across the business, functions and geographies and understand their strategic goals, to ensure Fraud risk alignment.Articulate the value of Fraud risk controls and their bottom line impact, regulatory and reputational cost to client-facing business lines.Prepare, present and challenge in a 2nd line capacity at relevant risk committees, steering groups and cross-business opportunities.Perform Delegation of Authority (DoA) responsibilities for Fraud Risk as defined for the business lines.Measure efficient and effective management of Fraud risk for the business lines.Validate the accuracy of KRI s and KCI s and other risk ratings, as well as process designs, to meet policy requirements.Ensure that Process Owners are escalating risk, control, and process deficiencies appropriately in accordance with the relevant risk frameworks.Build trusted working relationships with other functional heads, risk and compliance counterparts, and business unit stakeholders.Utilise appropriate risk management tool(s) to manage, track and monitor Fraud risks across the business lines.Maintain enough and appropriate evidence of work performed for review by Group Internal Audit and others.Monitor, assess and advise business lines on acceptable risk tolerances based on policy and control environment and the evolving regulatory and threat landscape.Our Ideal CandidateProven experience in a Fraud risk management, senior governance and policy, Fraud investigation, or audit role, preferably in the Fraud risk field.Bachelor s Degree in Engineering, Criminology, Finance & Accounting, Law, Business Management, or other related discipline.Graduate degree (Master s) and/or professional certifications have an advantage (e.g., CISA, CFE, CPA).Thorough understanding of Banking business processes & products, risks, threats and internal controls.Experience working in or with the financial services industry with keen understanding of business and operational environments.Strong leadership, negotiation and collaboration skills, and ability to work effectively in a complex multicultural and multi-time zone organization.Strong analytical and program management skills.Experience in leading a geographically dispersed organization.Ability to collect and analyse data, establish facts, and make recommendations in written and oral form.Ability to liaise with all parts of the Bank, including risk and business stakeholders.Excellent oral, written and communication skills.Apply now to join the Bank for those with big career ambitions.,

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