Key Responsibilities
- As the first line of defense, responsible for execution of the Fraud Risk Management Framework, Policies & Procedures and Standard Operating Procedure that are applicable for the section.
- This position will be accountable to review fraud detection on transactions monitoring controls, investigations and develop strategy to improve the internal fraud monitoring capability.
- Responsible for leading the team to perform transaction fraud detection, monitoring & investigation functions.
- Optimize the use of technology to develop/tighten preventive controls to understand the new threat environment or modus operandi for the purpose of developing preventive action within the bank.
- Responsible for the management and smooth operations of transactions fraud detection, monitoring and investigations
1. Fraud Monitoring
- Own the transaction fraud monitoring function and execute fraud management agenda in accordance with the Policy and Governance & Procedure to strengthen the transaction fraud monitoring controls within the organization.
- Ensure compliance with Fraud Policy and Governance & Procedure and Minimum Control Standards.
- Develop short term and long-term strategies that meet the expectations of all internal and external stakeholders focus on end-to-end fraud preventive measures.
- Independently or in partnership with other analysts, perform the fact-based analysis tied to potential opportunities or observed risks to derive relevant preventive control recommendations.
- Manage the fraud detection success rate and healthy False Positive Ratio.
- Review the existing controls based on fraud analyst detection/investigation outcome to make necessary changes in the process to prevent recurrence
- Translate case analyst outcome into an easily understood report.
- Collate and submit the monthly fraud data reporting and investigation report accordingly.
- Analyze the current fraud trend and formulate adequate fraud deterrence strategy by updating the counter measures.
2. Fraud Investigations
- Management of Fraud Investigations to ensure maximum productivity, fraud recovery and minimize fraud losses.
- Ensure fraud investigation is completed within the KPI or minimum standard TAT stipulated in the Fraud Risk Governance & Procedure
- If required, attend court cases, internal or external Fraud forum, internal Hearing and liaison with enforcement Agencies.
- Preparing the full investigations case report for fraud or related write-off purposes.
- Maintain, manage and update all fraud investigation case file and case register and internal fraud database of suspected individuals/companies.
- Compile monthly fraud dashboard & statistics to relevant management.
3. Admin, Policy and Procedural
- Review and improve SOPs for both Malaysia and Singapore based on fraud monitoring systems capabilities and overall objective of deterring fraud and loss prevention set out by regulators.
- Engage other divisions and departments within the organization to established SLA in relation to case escalation, customer management, account deactivation/reactivation, and fraud education materials.
- Periodic and timely reporting and updates to Committee members, management and external parties relating to operations and fraud incidents.
- Participate and facilitate in fraud monitoring system UAT for both Malaysia & Singapore.
- Proactively engage and ensure delivery of milestones on fraud monitoring system implementation for both Malaysia & Singapore by the IT Project Team.
- Ensure all business requirements in terms of data mapping, fraud risk models, and reporting are available by fraud monitoring system vendor are in place.
- Initiate change request and negotiate change request pricing with vendor of fraud monitoring system.
- Monitor and give feedback to fraud monitoring system vendor on risk model optimization, rules, parameter for both Malaysia & Singapore, to ensure minimum false positive rate and quality alerts.
- Assist product and channel team in fulfilling any fraud related requirement set out by regulators and payment schemes. Including end-to-end process improvement.
- Coordinate and facilitate compromised assessment and risk assessment by internal auditors and independent system assessors.
Note: Only shortlisted candidate will be notified.
