Fraud Director - Develop Fraud Risk Management Framework / Strategy (Financial Crime)

Fraud Director - Develop Fraud Risk Management Framework / Strategy (Financial Crime)

Based in Central London, 3 days a week onsite, 2 days remote

Contract until 31st July 2025

Day rate up to £950 PD inside IR35, VIA Umbrella

Purpose of Job

• To develop a comprehensive Fraud risk management framework

• To provide support to London business and management and support and guidance to the EMEA offices regarding Fraud risk management

• To provide advice and guidance on the regulatory and legal expectations with respect to fraud

• To support London and EMEA-based financial crime leads with the development of a regional fraud risk management strategy

Background

• As a regulated financial institution, the Bank has an obligation to establish and maintain policies, procedures, systems and controls to mitigate and effectively manage the financial crime risk. The Bank has operations across the EMEA region and is required to consider extraterritorial laws, and accordingly must maintain a coordinated and aligned approach to the framework taking this into account.

• The role holder will work as part of the Financial Crime Group, based in London, and will be responsible for the development of a comprehensive Fraud risk management framework.

• The role holder is required to have close collaboration with the Regional Chief Compliance Officer, the Financial Crime Group leads, Local Compliance Officers/Money Laundering Reporting Officers, PD-ITSD and all other support and control functions as required.

The role holder will:

• Be the subject matter expert on fraud and act in an advisory capacity within the second line of defence.

• Identify where there is an impact to other areas of the company, communicating and acting as appropriate.

• Further develop and enhance the Fraud framework, in order that the program is fit for purpose in accordance with regulatory expectations including acting upon new and emerging threats/risks, findings (both internal and external) etc. Make recommendations for, and where appropriate implement improvements to the fraud systems and controls.

Accountabilities & Responsibilities

• Analyse and interpret the fraud regulations and laws to enforce effective management, oversight and implementation of fraud polices required to meet the legal and regulatory expectations.

• Responsible for relevant Fraud Policies and Procedures/Standards.

• Manage, review and implement recommendations from external / internal audits and risk assessments.

• Strengthen the Fraud systems and controls by continued review, development and enhancement of systems and policy / guidance in line with regulatory requirements and industry best practice.

• Develop and strengthen relationships with internal and external stakeholders to promote best practice and ensure a good understanding of financial crime requirements

• Identify and address any training needs across all departments within the 3 lines of defence framework.

Knowledge, Skills, Experience & Qualifications

• Educated to degree level (with a relevant degree) and a professional qualification(s) in financial crime.

• Experience in implementing enterprise wide Fraud risk management frameworks

• Fully conversant with, and working knowledge of, industry practice and tools used to combat fraud and other areas of financial crime.

• Able to provide specific and targeted advice and guidance, subject matter expertise, and to liaise with other stakeholders to ensure effective working relationships are built and maintained.

• Ability to work well under pressure ensuring all deadlines are met, whilst maintaining excellent attention to detail at all times.

• Thorough experience of dealing with financial crime at an international level.

• Experienced decision maker, with the ability to influence and motivate at all levels.

• Excellent written and verbal skills.

• Experienced in formal report writing that can be used to communicate investigative reports, policies, procedures, processes and training to a wide-ranging audience whilst being adaptive to needs on a case by case basis.

• Ability to initiate and implement changes to improve efficiency.

• Ability to collaborate effectively and work with others to drive change.

Challenges

• To interpret and apply the expectations of multiple regulatory authorities whilst managing competing priorities.

• Provide support across the 3 lines of defence in order to enhance financial crime awareness and understanding and applicability to the Bank’s business activities.

Due to high demand we are only able to respond to applications that meet the required criteria