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UK GWM Fraud Risk Head

London, United Kingdom
Closing date
Nov 26, 2022

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Background/context:
  • Complex businesses distributed over multiple sites serviced by branch networks and internet banking platforms.
  • Operations distributed in multiple locations in the UK, India and Malaysia.
  • Alignment of fraud processes and controls will be required to meet various regulatory and Citigroup Global requirements and reporting standards.
The Job background is:
  • Supporting the growth of UK Global Wealth Management (GWM) busines in accordance with the framework of the Wealth Management Credit Risk Policy and Credit Risk Appetite statement.
  • Alignment of fraud and security incident management processes and controls will be required to meet various regulatory (such as PSD2, GDPR) and Citigroup Global requirements and reporting standards.
  • Operating within Global Wealth Management EMEA Region. Reporting to the Operations Head. In addition, candidate may have matrix reporting line to Regional Fraud Ops.
FRAUD UK: To manage the strategic fraud prevention & detection direction to the Fraud Operational Teams in order to protect UK GWM from organized crime
  • Develop and execute fraud risk management strategies across all UK GWM products and across all fraud types
  • To utilize/maintain/develop expert systems, knowledge and practices, investigate and monitor fraud attacks across the full product range.
  • Proactively identify profiles, trends and patterns of fraudulent behavior and develop innovative mitigating actions to combat such activity, thus minimising the risk to the bottom line P&L. Use expert skills and practices to create and evolve analytical models that enable all areas of customer interaction to be pro actively monitored
  • Establish and implement long term improvements in systems and processes across the business in order to reduce the overall fraud exposure at any given time. Ensure system performance is optimised and has a strong audit trail.
  • Provide communication to the wider stakeholders of larger fraud attacks identified, ensuring key knowledge on identified threats and behavior is shared and intelligence maximised. Share approach with regards to defences and long term strategy.
  • Manage the team to complete high quality defect analysis and process gap identification to ensure constant improvement of operational and strategic processes.
  • To project manage from a business perspective on new fraud projects. Ensuring all fraud risks are mitigated or removed. Ensuring risks are documented and assessed.
  • Providing fraud consultancy to the project teams in order to mitigate risks and fraud threats.
  • To represent the Fraud Teams on projects from a fraud analysis and systems perspective, enhancements and work requests identifying and evaluating fraud risks and designing controls and solutions to mitigate these risks in the live environment.
  • Develop the team to provide industry intelligence liaison. Dealing with organised crime alerts and warnings from external parties such as the BBA, CIFAS, SOCA and UK Payments, thus ensuring critical fraud intelligence is utilised and disseminated across the Financial Crime Unit. This especially applies to CPP'S and the need to have rigorous end to end process.
  • Maximise potential data sources to use in building fraud defences and ensure data integrity and analytical quality across key reports and rules.
  • Devise and deliver appropriate communications (including presentations, briefings and attendance at team meetings) across Citi UK GWM business so that the need for Fraud risk management is understood in these areas and what this means for their own roles and accountabilities is known. Providing direction and support where necessary to all areas of the UK GWM business on fraud related matters.
  • Represent the Financial Crime Unit on major new product / apply change projects identifying and evaluating non-card fraud risks and designing controls and solutions to mitigate these risks in the live environment. Represent the business on major fraud industry initiatives / projects ensuring that UK influences the direction of these initiatives, ensuring all of our requirements are met and the outcomes provides value both to Citi and the industry
  • Drive the strategic direction of Fraud, whilst ensuring that through the relevant SLA's with support functions that all fraud systems are optimised to detect all potential fraud referrals. Undertake risk reviews of processes, products and areas to ensure that all fraud risks have been identified, assessed and mitigated.
  • Prepare annual Fraud Plans for both businesses to include description of threats, opportunities, financial forecast and gap analysis with detailed counter measures for each fraud category and appropriate approvals obtained. Annual Fraud Plan to reflect the requirements of the Global Consumer Credit and Fraud Risk Policies (GCCFRP) Chapter 19 and GCCFRP Minimum Standards.
  • Work in partnership with business areas to develop Fraud capability of the business. Equip individuals and teams with the skills, knowledge and experience to meet current and future business needs
  • Represent Citibank at Scheme/Industry bodies and take actions to raise the profile of the Fraud function within the Group
  • Ensure delivery of preliminary investigations and processing of all identified fraud. Manage the daily review process of the previous day's losses and agreement on tactical changes to detection system rules
  • Review implementation of new processes to ensure effective controls are in place.
  • Manage relationships with key contacts at Citi and other organisations and support the management of external relationships with the FSA, APACS and SOCA.
  • To manage UK collections, and provide business direction and strategy across the UKC business lines for our processes and controls
  • Ensure that the overall approach of the unit, including working practices and behaviours for the team are fully aligned and are operated in compliance with the core principles of Treating Customers Fairly (TCF). TCF must be an integral part of the way that we work and be at the forefront of our minds.
Development Value:
  • Opportunity to develop and utilize a full range of skills in a fast growing and highly competitive market.
  • Opportunity to work with experienced fraud prevention practitioners in the banking fraud world
  • Opportunity to operate within a combined world-class fraud prevention and detection operation which is widely acknowledged as leading edge and innovative.
  • Extensive and detailed experience of evaluating fraud risks and threats, particularly in the context of the UK & EMEA Markets.
  • Knowledge of the debit card processes and legislation affecting debit cards.
  • Excellent knowledge of the UK banking payment system and processes.
  • Proven track record of working on both major fraud industry and business projects.
  • Extensive track record and experience of working at a senior level within the UK Fraud Industry at key external fraud forums (APACS, CIFAS).
  • Strong networking and influencing skills at all levels - ability to shape and influence the business' approach to Fraud and Cardholder Fraud awareness.
  • Specialist knowledge of all types of Financial Crime associated with the provision of products and services through all channels including the internet.
  • Evidence of driving strategy.
  • Strong awareness of external developments within the industry and fraud trend implications.
  • Strong verbal and written communication skills including effective report-writing and presentation skills.
  • Ability to interpret and utilise financial and management information.
  • Budget/Cost Centre Management
  • Excellent leadership, interpersonal and relationship management skills
  • Excellent judgement in balancing the management of all aspects of fraud with customer and commercial considerations
  • Ability to think strategically, able to evaluate risk quickly in any fraud related scenario.
  • Ability to present confidently to a range of audiences in all aspects of Fraud management.
  • Independent thinker
  • Continuous improvement (change) focus
  • Operational compliance with scheme rules and regulations
  • Ability to apply a risk based approach to the management of fraud risk taking into account all customer and commercial considerations.
  • Ability to identify the key facts in information, generates practical solutions for action excellent incident management skills.
  • High levels of attention to detail.
  • High levels of integrity and tact.
  • Self motivated, able to act on own initiative without constant recourse to management.
  • Must have tenacity to see things through.
  • Sound decision making skills.
  • Ability to plan and organise time effectively.
  • Excellent communicator, both written and verbal with internal and external customers.
  • Successful candidates will usually have a degree or three years relevant experience (or equivalent). However, exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and type of experience.
  • 5+ years or more in the business at manager level with fraud experience
  • Credit initiation and collections experience preferred
  • Ability to influence and lead people across teams and business lines
  • History of success working in a team environment
  • Well developed communication skills both oral and written
  • Demonstrable experience of building and sustaining productive business focussed relationships
  • Able to demonstrate a track record of success in previous roles
  • Able to work under pressure in a fast moving environment remaining motivated and committed at all times.
  • Ability to work under often intense pressure, meet tight deadlines and react immediately to often major incidents affecting the business and /or its customers
  • Analytical thinking
  • Drive & determination
  • Effective judgement and decision making
  • Calm, level headed and able to cope well in live incident / emergency situations.
  • Ability to work under often intense pressure, meet tight deadlines and react immediately to often major incidents affecting the business and /or its customers.
  • Bachelor's degree/University degree or equivalent experience
  • Master's degree preferred
Job Family Group:
Operations - Services -------------------------------------------------
Job Family:
Fraud Operations ------------------------------------------------------
Time Type:
Full time ------------------------------------------------------
Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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