Head Fraud Risk Management, Surveillance & Investigation Malaysia

Standard Chartered; Petaling Jaya; On-site; MYR 200,000 - 300,000; Full time

Job summary

A leading international bank is seeking a Head of Fraud Risk Management in Malaysia to lead the development and execution of fraud risk initiatives. The ideal candidate will have over 12 years of experience in banking, with a strong focus on fraud prevention and collaboration across departments. This role involves strategic oversight of fraud risk management across Malaysia and the region, ensuring compliance and enhancing operational effectiveness.

Benefits

Competitive salary

Flexible working options

Wellbeing support programs

Continuous learning opportunities

Qualifications

• Proven experience (>12 years) in banking and financial services with 8-10 years in fraud risk management.
• Strong understanding of banking processes, threats, and internal controls.
• Experience leading teams in a complex, multicultural organization.

Responsibilities

• Develop and implement a robust fraud risk management framework.
• Lead and mentor the fraud risk management team.
• Ensure compliance with regulatory standards and internal policies.

Skills

Fraud risk management

Leadership capabilities

Collaboration

Data analysis

Fraud prevention strategies

Education

Bachelor’s Degree in relevant field

Graduate degree (Master’s)

Tools

Fraud detection systems

Application security

Job description

Job Summary

The Head of Fraud Risk Management, Surveillance & Investigations Malaysia will lead the strategic development and execution of fraud risk management initiatives, focusing on investigation surveillance, and governance for Malaysia including oversight on Brunei, Vietnam and Indonesia on fraud landscape. This role requires a seasoned professional with extensive experience in fraud risk management, strong leadership capabilities, and the ability to drive collaboration across various departments to safeguard the organization against fraudulent activities.

Key Responsibilities

Strategy

• Develop and implement a robust fraud risk management framework, with a focus on fraud, mule account detection and investigation surveillance within Malaysia.
• Establish and enforce fraud risk policies, procedures, and governance structures.
• Lead and mentor the fraud risk management team, fostering a culture of excellence and continuous improvement.

Business

• Develop Fraud Prevention and Detection framework for all products/segment to identify and respond to existing and emerging fraud risks and mule accounts.
• Have oversight of processes and controls supporting products/segment.
• Optimise operating efficiency while balancing the effectiveness of decision making within the Fraud Risk Detection.
• Ensure the Fraud Surveillance framework is effectively embedded and communicated across WRB Malaysia.
• Ensure the cost budget in Fraud Risk Management is based on robust capacity plans and is delivered through a rigorous cost management discipline.

Processes

• Support standardisation, automation and consolidation through re-engineering and process improvement initiatives across Group and Countries.
• Develop and maintain Application Fraud detection System capabilities, skills and infrastructure that are in compliance with internal policies and external regulations.
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant risk forums and committees.
• Implement the Fraud Risk Framework in WRB Malaysia and monitor the operational risk metrics to identify potential control weaknesses.
• Re-engineer process to identify fraud and mule accounts, with the aim to deliver desired client experience across all channels/products.
• Strong collaboration and concerted efforts with key stakeholders/partners (e.g. WRB Risk, Products, Operations, Operational Risk, CFCC, Technology):
• Sharing information on fraud trends and identifying emerging fraud threats and mule accounts’ modes operandi.
• Leveraging on common tools, information, and processes
• Provide support to global standard operational models, centralization and automation.
• Accountable for pre-booking scenarios development / fine-tuning to influence detection rates and FPR (false positive rates) in Fraud Surveillance application.
• Accountable for post-booking scenarios development / fine-tuning to influence detection rates and FPR.
• Monthly review with stakeholders across Group and Countries.
• Sharing of significant fraud MO, root causes and best practices are included in the Global standards.
• Support and provide feedback/guidance on issues faced within the region through performance review with Country/ Regional FRM teams.
• Design and develop a global standard application verification approach for both pre-booking and post-booking scenarios.
• Drive standardization and ensure investigative recommendations are fully adopted across SCB footprint. Ensure Lessons Learned shared with SCB countries on timely manner.
• Lead and drive standardisation, automation and consolidation through re-engineering and process improvement.

Other

• Develop fraud awareness programs for staff and clients.
• Develop and maintain fraud management capabilities, skills and infrastructure that are in compliance with both internal policies and external regulations.
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant countries.
• Support implementation of the Group Operational Risk Framework in Risk Operations and monitor the operational risk metrics to identify potential control weaknesses.
• Review Central Bank’s reporting for fraud reconciliation reporting.
• Management of Client Complaints received via correspondent and Central Bank.

People & Talent

• Lead 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.

Risk Management

• Stay abreast with industry existing/emerging fraud risks and mule accounts’ modes operandi.
• Identify and share industry best practices and work with the businesses for their feasibility and implementation.
• Evaluate latest practices/tools to identify next generation fraud detection system.
• Develop a collaborative relationship with regulators, peer banks and fraud risk industry forums to help detect and mitigate fraud and mule account set up.
• Ensure all FRM policies and procedures in the countries comply with Group Policies and Standards including local regulatory requirements.
• Ensure proper and updated documentation in place for in-country policies and procedure

Governance

• Provide oversight across WRB Risk Operations team, ensuring compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements.
• Embed the Group’s values and code of conduct in Retail Risk Operations to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.
• Accountable for satisfactory closure of issues / gaps arising from Internal Audits, peer reviews and regulatory reviews for WRB Malaysia.
• Report on fraud risk management activities, findings, and outcomes to senior management on timely manner.

Regulatory & Business Conduct

• Display 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 Standard Chartered 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 Malaysia Fraud Management teams to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients and The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

Internal stakeholders.

• CCO Retail Clients, RCOs, CCH, CCROs, SOROs
• Regional / Country Business Heads / Product Owners / Digital Channels / WRB Client segment / Legal / Compliance / Client Experience / Collection & Recoveries
• Partnership Business, Risk, Compliance, FCC
• Fraud FRSC
• Financial Crime Compliance and Shared Investigations Services
• Relevant members of Risk Operations management team
• T&O partners supporting WRB.
• Strategy and Talent
• Islamic Banking Division

External stakeholders

• Auditors and Regulators
• Associations (Visa, MasterCard, Amex and other Regional / Local forums) and peer Banks
• Law Enforcement agencies
• Suppliers, vendors and consultant

Other Responsibilities

Embed Here for good and Group’s brand and values in Malaysia WRB Fraud Management Teams ; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures and Multiple functions (double hats) where applicable.

Skills and Experience

• Proven experience (>12 years) in banking and financial services with at-least 8-10 years in fraud risk management with specialization in Fraud, Mule and Investigation Surveillance Governance

• Bachelor’s Degree in Engineering, Finance & Accounting, Law, Business Management, or other related discipline.
• Graduate degree (Master’s) and/or professional certifications have an advantage (e.g., Certified Information Systems Security Professional (CISSP), Certified in Risk and Information Systems Control (CRISC), Certified Fraud Examiner (CFE) and Certified Anti-Money Laundering Specialist (CAMS).
• Thorough understanding of Retail and Business Banking processes & products, risks, threats, and internal controls.
• Good understanding of the payment’s ecosystem including various payment types to help detect upfront any potential fraud happenings.
• Highly technical – Being able to manage technical teams who manage integrations for both mobile and web-based platforms.
• Strong understanding of the application and network security.
• Being able to analyse data in great detail and being able to provide deep insights.
• Good understanding of laws in the areas of banking and regulatory mandates
• The role holder should demonstrate clear managerial process and significant EQ in dealing with team members, other departments, and external entities.
• Good understanding of various fraud products and their capabilities
• Good understanding of various controls available and how these controls provide a layered defence.
• Good presentation skills to be able to present, teach and train at various levels within the Bank.
• 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.
• 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.

Role Specific Technical Competencies

• Strategic Planning

• Business Development

• Project Management

• Outstanding Organisation skills

• Excellent Interpersonal Skills

• Public Speaking Skills

• Leadership Abilities

• Strong analytical and problem-solving skills

About Standard Chartered

We\'re an international bank, nimble enough to act, big enough for impact. For more than 170 years, we\'ve worked to make a positive difference for our clients, communities, and each other. If you\'re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can\'t wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you\'ll see how we value difference and advocate inclusion.

Together we:

• Do the right thingand are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle,continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together,we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter,we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance,with flexible and voluntary benefits available in some locations.
• Time-offincluding annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible workingoptions based around home and office locations, with flexible working patterns.
• Proactive wellbeing supportthrough Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills,global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning cultureto support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation,one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.