Fraud Management Specialist

2 days ago

Singapore CIMB Group Full time $80,000 - $120,000 per year
Description

Responsibilities:

Fraud Detection and Analysis

  • Monitoring accounts and transactions for suspicious activity using various tools and systems. 
  • Analysing fraud alerts and reports to identify potential fraud patterns and trends. 
  • Investigating fraud cases, gathering evidence and documenting findings by collaborating with outsourced service provider if necessary.

Investigation and Resolution

  • Conducting in-depth investigations of suspected fraudulent activities and escalate cases accordingly.
  • Interviewing customers, employees, and other relevant parties. 
  • Collaborating with law enforcement agencies and other internal teams (e.g., legal, compliance, ITD). Participate in Fidrec adjudication, when necessary. 

Fraud Prevention

  • Developing and implementing fraud prevention strategies and controls. 
  • Educating customers, staff, and the public on fraud risks and prevention techniques. 
  • Recommending improvements to existing rules in fraud detection system and procedures/processes for operational efficiency and effectiveness. 

Reporting and Compliance

  • Preparing management reports and regulatory reports.
  • Be conversant with relevant laws, regulations, and Bank policies. 
  • Staying updated on the latest fraud trends and regulatory changes. 

Customer Support

  • Providing support and guidance to customers who have been victims of fraud. 
  • Assisting with account recovery and providing advice on fraud prevention. 

Collaboration and Communication

  • Collaborating with internal stakeholders within the Bank and externally with Regulators/SPF/Anti-Scam Centre/peer banks and fraud risk industry counterparts to share information and coordinate efforts. 
  • Communicating effectively with customers, both verbally and in writing.

Requirements:

Qualifications

  • Degree

Professional Qualification and/or Regulatory, Licensing Requirements  

  • Technical and Regulatory Knowledge, relating to Fraud and Scams

Relevant Work Experience

  • At least 5-10 years of relevant investigative experience in fraud risk and scam related areas is preferred
  • Strong relationships with Law Enforcement Agencies will be a plus point

Technical/Functional Skills

  • Familiar with relevant Regulatory Acts/Notices/Advisories
  • Strong analytical skill and eye for detail
  • Good communication and interpersonal skills
  • Independent, versatile and able to perform under pressure
  • Knowledge of Consumer Banking business practices, processes and procedures
  • Proficient in MS Word, Excel, PowerPoint & Fraud systems
  • Analytical skills in data interpretation
  • Investigation skill & reports preparation
  • Visa/MasterCard Rules and Regulations including chargeback process
  • Complaint Management matters on fraud and authorizations areas
  • Proven track record of managing complex investigations with excellent analytical, problem-solving & risk mitigation
  • Strong understanding of changing fraud and scams typologies in the financial industry for Consumer Banking

Personal Skills (Soft Competencies)

  • Good communication skills, written and spoken with the ability to communicate at all levels
  • Planning and organizing

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