Job vacancy for Fraud Risk Manager at Standard Chartered Bank Nigeria
JOB DESCRIPTION Introduce and implement full-fledged Fraud risk management model in line with the CB Fraud Risk Management framework for non lending products. Develop and sustain a system for Fraud identification, monitoring, investigating, reporting in order to minimize fraud losses and ensure timely recovery of fraud related claims Reduce fraud losses by way of :
Timely investigation and resolution of cases? All possible recovery opportunities to be explored and tracked closely. Develop effective fraud control policies and procedures in line with the CB Fraud risk Management strategy of Prevention, Detection, Deterrence, Investigation and Recovery. Identify, Investigate and Resolve Fraud issues relating to Consumer Banking Non Lending portfolio Identify, develop and continuously improve fraud prevention procedures and measures. Track Fraud losses and costs closely and ensure that they do not exceed the budgets. Make recommendations on Fraud write-off’s. Liaise with Industry risk forums, franchisee, regulators and law enforcements as appropriate. Contribute to the initiatives of the bank including Customer charter and ensure compliance to regulatory, legal and internal policies of the bank. Promote a health governance structure within the unit.
Analyze and review fraud trends and provide recommendations to business and other stakeholders on control measures to minimize / mitigate such frauds. Ensure generation of adequate MI is in place and necessary submissions are made on time including regulatory submissions if applicable. The Fraud Risk Manager/Owner for Lending under CCH and CB Operations Fraud Risk Manager/Owner Non-Lending under CB Operations Head, are all jointly responsible for the effective implementation of FRMS (Fraud Risk Management Standards), as the designated Fraud Risk Owners, and with the Head of Consumer Banking ultimately responsible for effective implementation of the FRMF.
NOTE: Depending on the Country requirement and with the exception of Cluster Hub Countries (Nigeria, Kenya and Botswana, countries seen as Lean Premium markets in Africa (TAZ, UGA, ZAM ZIM, GHA, GAM, could combine the roles of Fraud Risk Manager/Owner for both Lending a Non-lending, with a dual reporting line into both CCH and CB Head of Operations, with the support from Hub countries when required. (SL should be covered by Hub Country)
KEY ROLES & RESPONSIBILITIES Fraud Risk Owners are responsible for ensuring the effective implementation of the FRMS and the associated policies and processes of the fraud risk function. Fraud Risk Owners must coordinate the efforts of all functions that contribute to fraud risk management to ensure that: • FRMS is implemented for the business • Fraud Risk Management functions are adequately staffed • Fraud losses are accurately reported as per CB FRMF
Fraud Risk Owners in the countries must work closely with counterparts from other functions, namely: • Information Security • Operational Risk • Product Managers • Compliance and AML • Financial Crime Risk • Credit Risk • Quality Assurance • Other relevant areas
Ensure that fraud risks are identified, assessed, mitigated, monitored and reported, including the reporting and tracking of fraud risks through Operational Risk procedures and processes. Assist and make recommendations on enhancing process controls and systems. Work with the product teams in the country to strengthen the fraud risk management strategy. Ensure HoCB is kept informed of all cases. Advise and support the CORG, BORG and other in-country committees on all aspects of fraud risk management in CB. Align with business (functional) strategy and optimize the risk-reward within acceptable boundaries and to consistent standards Set the right tone for the fraud risk management culture within the business Support the development of appropriate fraud risk training programs for the business Report all internal crime or dishonesty cases immediately Adhere to the reporting policy for internal and external financial crime cases.
QUALIFICATIONS & SKILLS University Degree Knowledge of the operating procedures and policies of Consumer Banking Experience of fraud investigation, prevention and management, including interview techniques, research methods, accounting and audit control based procedures, rules of evidence, and disciplinary procedures. A background in regulatory, legal, law enforcement, audit, or similar work is essential. Card product and specific investigation knowledge would be a plus. An appropriate professional qualification is desirable.
In compliance with the National Youth Service Corps (NYSC) Act of 2004, all applicants should ensure that they have completed the mandatory NYSC programme. A discharge certificate will be required as evidence of completion of the programme. Where an exemption has been granted, a certificate of exemption will also be required.
Diversity & Inclusion Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
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