Financial crime leadING Bank

JOB FUNCTION/TITLE: Financial Crimes Lead/Head
DEPARTMENT: Operations
LINE MANAGER: Retail Operations Head
Overall Function
The Lead of Financial Crimes is accountable for leading a first line team in order to ensure that ING Retail effectively manages its external fraud and AML risks within risk appetite and within customer expectations. This role is responsible for defining and implementing the fraud prevention, detection and response strategies across Retail.
Working as part of Operations Leadership team, this role is an active contributor to establishing and delivering on the agreed vision and strategy of Operations and Retail business.
The core functions of this role are:
• Developing strategies and control frameworks to protect customers and the Bank from customer application through to monitoring and throughout the entire customer lifecycle
• Prioritising and overseeing the execution of agreed strategies from an operational perspective
• Ensuring risks are identified & assessed and controls are designed & implemented in line with control objectives and where applicable, comply with minimum standards, ING Fraud Policy, regulations and other compliance obligations
• Lead a team of fraud professionals within the Bank and oversight management within ING Group and building fraud awareness and capability throughout the organisation
• Liaising with external bodies including regulatory and law enforcement and staying a step ahead of fraud and AML risk typologies
• Accountable for designing controls to manage fraud risks, including cybercrime (with the exception of purely technical controls) as well as AML risks including customer and transaction monitoring
Key Responsibilities
Develop and implement an effective Fraud Control Framework focused on prevention of fraud
• Understand the end-to-end fraud risks for all retail banking products, customers and channels and design a control framework that ensures risks remain within appetite
• Identify, review and manage the various fraud tools and systems to ensure we can effectively manage fraud risk. Oversee changes as required.
• Controls designed with a customer lens balancing minimizing friction with risk mitigation
• Develop a control framework that prioritizes prevention over detection
• Act as a trusted advisor across the business to influence the prioritization and implementation of fraud controls across all products, customer types and channels
• Establish robust controls for customer onboarding including managing Electronic Verification and application fraud monitoring
• Monitor fraud trends and typologies to identify changing fraud risks and align with changing business needs and threats including as new products and channels are developed
Detection and Response
• Establish an manage and effective and efficient monitoring function that manages risks on a 24/7 basis
• Identify and respond to fraud risks to minimize financial losses and customer impacts
• Establish detection processes that cover fraud as well as AML risks
• Establish and manage processes that ensure that detected risk events are appropriately responded to considering operational risk, customer satisfaction and efficiency standards.
Resource Management and Creating a High Performance Culture
• Coach, train & mentor people and fraud specialists in the Bank and in IBSS
• Identify which fraud risks should be managed with people, and which processes should be automated to control the cost of fraud prevention, detection and response
• Build capability and competency including appropriate succession planning
• Build and maintain team morale
Managing Relationships with Key Stakeholders
• Build strong relationships with 2nd line of defence, Head Office, Product Tribes and IT stakeholders to influence fraud controls
• Build awareness of fraud risks across the Retail
• Design strategies that consider the overall strategy and priorities of the Retail Business
• Utilize networks across the industry to remain abreast of changing fraud trends
Develop a reporting and analytics framework that provides visibility of performance with a future looking view
• Develop insights and data to demonstrate the fraud risks and exposure across the Retail, and how effectively these are being managed
• Create dashboards that monitor and report on performance
• Establish analytical capability utilizing data from various sources to identify, manage and mitigate fraud risks
Special Duties or Decisions
• Fraud prevention strategies at process level
• Prioritization of process improvements to manage fraud
• Prioritization of workload across all processes
• Recruitment and performance management
• Expense management against budget
• Flexibility of resources