Job description

The successful candidate will be the go-to subject matter expert for our fraud risk management framework, playing a critical role in protecting the bank and our customers from financial crime. This role requires a strategic thinker with strong operational execution capabilities, good expertise in fraud analytics, and a thorough understanding of the regulatory landscape in Singapore.

Key Responsibilities:

1. Fraud Detection and Rule Management

Be the go-to subject matter expert for the development, maintenance, and enhancement of the bank's anti-fraud risk management and surveillance capabilities.

Define and provide business requirements for the fraud surveillance system, including the design of detection rulesets, governance protocols, and prevention strategies.

Periodically test, review, and optimize fraud risk monitoring rulesets to ensure maximum efficacy and minimal false positives.

2. Fraud Operations and Investigation

Execute daily operational tasks, including the review, triage, and clearance of fraud alerts and cases generated by the monitoring systems and escalation from other functions.

Coordinate closely with the AML/Compliance function to ensure timely and accurate filing of Suspicious Activity Reports (SARs) related to fraudulent transactions.

3. Fraud Intelligence and Preventive Education

Conduct quantitative analysis on transactional and behavioral data to detect emerging fraud patterns, trends, and anomalies.

Proactively respond to changes in the fraud landscape, including new schemes related to digital banking, fintech, and payment technologies.

Perform post-mortem fraud incident investigations to identify root causes, modus operandi, and impact, and ideate remediation actions.

Develop educational materials to foster robust public awareness.

4. Compliance and Reporting

Prepare management and regulatory reports

Monitor and respond to new regulatory requirements from the Monetary Authority of Singapore (MAS).

Conduct gap analyses against new regulations/guidelines to ensure bank's fraud management framework remains fully compliant.

Serve as the primary point of contact for the Singapore Police Force on matters pertaining to criminal investigations involving fraud.

Develop and deliver fraud awareness training to employees to promote a strong risk culture and ensure understanding of the fraud risk policy.

Job Requirement

A minimum of 7+ years of relevant experience in fraud prevention, detection, and management within financial institutions, law enforcement, or fintech industry.

Proven hands-on experience in daily fraud operations, including alert/case management and investigation.

Demonstrable experience in fraud rule management: designing, testing, and enhancing detection rules within a fraud surveillance system.

Strong quantitative and analytical skills, with experience in data analysis to detect fraud patterns.

In-depth familiarity with the digital banking ecosystem, fraud schemes, and fraud risk models and capabilities.

Robust knowledge of MAS regulations and expectations in fraud and scam risk.

Experience in liaising with law enforcement agencies, such as the Singapore Police Force, is a strong advantage.

Excellent command of written and spoken English. Proficiency in Mandarin is required to communicate effectively with Mandarin-speaking stakeholders.