Role Overview:
The Senior Vice President, Anti-Financial Crime (AFC) for Retail Banking is a pivotal leadership role within the Group Retail AFC function. The incumbent will be responsible for developing, implementing, and overseeing strategies to prevent, detect, and mitigate financial crimes, including fraud and money laundering, within the Retail Banking segment. This role will lead a team responsible for card and CASA fraud surveillance, AML risk assessments, and ensuring regulatory compliance across all retail banking operations.
The SVP will play a key role in operationalizing an efficient fraud detection framework, ensuring AML operations meet business objectives, and collaborating with internal and external stakeholders to drive continuous improvements in fraud and AML processes.
Key Responsibilities:
1) Fraud Surveillance & Operations:
Leadership of Fraud Operations: Manage teams responsible for fraud surveillance across Current Account & Savings Account (CASA), Cards, and 24/7 Authorization Support. Ensure timely detection, intervention, and resolution of potential fraud incidents.
Fraud Surveillance Functions:
- Oversee CASA Fraud Surveillance operations, including reviewing alerts, monitoring high-volume transaction data, and making critical decisions on whitelisting/blacklisting actions.
- Lead Card Fraud Surveillance, ensuring timely reporting on various fraud types, and coordinating with internal/external stakeholders to maintain compliance with company policies.
- Manage the Authorization Support function, ensuring accurate records are maintained for audit purposes, and working closely with external entities like Visa and MasterCard to address compliance matters.
Process Improvement & Efficiency: Identify and drive opportunities to improve operational processes and enhance the detection and prevention of evolving scam trends. Streamline workflows to enhance productivity and adherence to Service Level Agreements (SLAs).
Collaboration with Stakeholders: Liaise with cross-functional teams and law enforcement agencies to provide case support, share insights on trending scams, and develop recommendations to mitigate risks.
2) AML Operations:
Oversight of AML Processes: Oversee AML operations to ensure compliance with regulatory requirements, managing risk assessments, and driving productivity across AML processes. Ensure SLAs are met and operational backlogs are addressed efficiently.
Operational & Risk Management: Continuously review and enhance processes to improve operational effectiveness, cost efficiency, and AML risk management.
Audit & Compliance: Monitor audit reports and compliance reviews, taking appropriate actions on findings. Work closely with audit and QA teams to ensure ongoing compliance with internal and external regulations.
3) Stakeholder Engagement:
Strategic Leadership & Vision: Work closely with Group Retail Management and key stakeholders to shape a long-term strategy that addresses changes in the regulatory environment, industry trends, and internal business needs.
Regulatory Updates & Implementation: Stay informed on regulatory changes and ensure alignment between fraud and AML operations. Engage with Group Retail Fraud and AML Ops teams to support implementation efforts.
Technology Strategy: Define the technology strategy for AFC Ops and work closely with Group IT to deliver innovative solutions that enhance fraud detection and AML operations.
4) Leadership & Team Development:
Team Management: Lead and manage the Group Retail AFC Operations team, defining individual roles, responsibilities, and goals. Manage performance reviews, career development, and staff engagement to maintain high morale and reduce attrition.
Capacity Building: Ensure the team is equipped with the necessary skills, knowledge, and training to perform effectively. Identify and address capacity gaps to meet the demands of AFC operations.
Governance & Risk Management: Define and deliver the strategy for AFC Operations with strong governance around risk and cost. Establish a high-performing team culture through effective communication, performance management, and recognition programs.
Key Qualifications & Skills:
Educational Background: Degree or equivalent qualification preferred.
Experience: 10-15 years of relevant experience in card and CASA fraud surveillance, authorization and fraud management, AML, and banking operations.
Domain Expertise: Strong knowledge of card payment processes, AML regulations, sanctions, and fraud detection methods. Experience in managing large teams and delivering operational excellence across banking operations.
Regulatory & Risk Knowledge: Solid understanding of financial crime regulations, fraud investigation techniques, and operational risk management practices within the banking sector.
Leadership & Stakeholder Engagement: Demonstrated experience in influencing senior management, driving operational changes, and managing relationships with key stakeholders across risk, compliance, audit, and law enforcement agencies.
Communication & Interpersonal Skills: Strong communication, negotiation, and stakeholder management skills, with the ability to engage effectively across all levels of the organization.
Passion for Fraud & AML Prevention: Keen interest and expertise in preventing and detecting financial crimes, with a commitment to protecting the bank and its customers from fraud, scams, and money laundering.
Core Competencies:
- Strong leadership and people management skills
- Analytical and strategic thinking
- Excellent communication and stakeholder engagement
- High integrity and commitment to regulatory compliance
- Ability to manage complex fraud and AML operations effectively
