AVP, Fraud Manager, Fraud Management Advisory

Singapore, Singapore
18 May 2022
01 Jun 2022
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the
World's Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

Division Description
Group Legal and Compliance (GLC) supports the Bank in all legal, regulatory and compliance matters. The division ensures that the Bank's businesses comply with policies, procedures and relevant laws, rules and regulations issued by Monetary Authority of Singapore and other local regulators.
Apart from being a legal advisor on litigation, trademark filings and other legality issues where relevant, GLC plays an important role as undertakers of the bank-wide regulatory compliance and anti-money laundering initiatives. This includes developing policies and procedures to manage and mitigate risks relating to money laundering and financing of terrorism, as well as monitoring, detection and combating of money laundering and financial crime activities.

Key Responsibilities:
  • Support Manager in liaison on Fraud Risk Advisory (FRA) matters with all parties and subsidiaries within the Group, and with external parties.
  • Manage responses to fraud incidents escalated to FRA, including investigations and reporting, among others.
  • Perform annual reviews for all FRA and attendant policies i.e. Fraud Incidence Response Protocols, Whistle-blowing Sub-policy and Police Reporting Procedures for all entities within the OCBC Group.
  • Support Manager in all scheduled "fraud risk assessment and outlook" reviews and management reporting. Gather and report fraud-related MIS with relevant commentaries for Senior Management, Board Risk Management and Operational Risk-Information Security Committees. Liaise with entities within the OCBC Group for the extraction and compilation of these MIS.
  • Construction and management, including data entry, of a Fraud Database from escalations received. Conceptualize and implement, where possible, new ideas for the explanation of past, current and future fraud trends.
  • Enhance market intelligence network by maintaining a working relationship with all industry members to keep abreast of fraud management developments, threats and trends.
  • Undertake a pro-active approach to fraud risk management by proposing additional or new mitigating measures to manage-down fraud risks, based on changing fraud trends and landscape.
  • Recommend and assist in development of infrastructural support for FRA functions. Constantly seek opportunities to streamline such functions, procedures and processes to maximize productivity.
  • Promote fraud risk awareness by providing staff training, guidance and advisories to Business and Support Units on fraud incidences.
  • Identify and attend appropriate training opportunities according to requirements.
  • To fulfil other responsibilities as and when required by the management in line with changing fraud trends and patterns.

The ideal Candidate will meet the following requirements:
  • University Degree or equivalent preferred.
  • A minimum of 5 years in practical fraud risk management/advisory.
  • Experience and familiarity with fraud surveillance and monitoring systems are advantageous.
  • Experience in law enforcement and investigation processes would be an added advantage. Possess good working relationship with law enforcement agencies.
  • Have good working knowledge of cyber frauds and social engineering modus operandi.
  • Have knowledge of the financial services industry, specifically in consumer and corporate banking, knowledge of private bank is a plus.
  • Computer literate in Microsoft Word, Excel, Power Point, Project Management and other necessary applications.
  • Demonstrates successes in working both independently and with a team.
  • Presents self in a confident and professional manner.
  • Independent, resourceful and enthusiastic with a high sense of integrity.
  • Good interpersonal skills.
  • Must be able to speak, read, write and understand the primary languages used in the workplace. Additional language skills are advantageous for this post but not essential.
  • Systematic approach with good organization and planning skills.
  • Excellent written and communication skills with the ability to communicate at all levels.
  • Relevant investigative skills - interviewing, report writing, evidence gathering, fact finding and analysis, delivering briefings and presenting evidence at internal, civil, criminal, and/or disciplinary proceedings - would be an added advantage.
  • Able to work under intense pressure.

At OCBC, we recognise your drive, passion and talent. We will bring out the best in you and empower you to excel. Fulfil your life goals and career ambitions with us.

*We regret that only shortlisted Candidates will be notified.

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