Senior Officer - Fraud Management

at  Bank Of China

Financial Crime Operations department is responsible for ensuring that all financial crime risks in Bank of China (UK) Limited and Bank of China Limited London Branch (jointly referred to as the Bank) are identified, managed or mitigated within the first line of defence (1LoD). A key component of the department’s coverage is responsibility for the Bank’s operational adherence to the UK regulatory requirements, namely with regards to Customer Due Diligence (CDD), Fraud Prevention and Management, Sanctions Screening, Transaction Monitoring and the provision of adequate training and support to the front line business. The Fraud team within Financial Crime Operations department is responsible for the centralised fraud prevention, fraud risk management and fraud related processes across the 1LoD. As a Senior Officer - Fraud Management, you will be responsible for understanding fraud risk and drive Bank’s operational framework to mitigate this risk to best standards, through alert assessment, data analysis and training. This is a full time permanent position.

Key responsibilities

• Support business in generating fraud awareness, both internally and externally to customers
• Review output of fraud monitoring tools once implemented to undertake proactive outreach to customers where higher risk transactions have been identified, and receive inbound queries/reports of fraud
• Conduct investigations into allegations of fraud received from business units, make liability decisions based on the findings and create investigation reports detailing the individual circumstances of each case
• Conduct timely, fair, and unbiased investigations into allegations of fraud and determine if they are first party, third party, or other
• Provide customer refunds where appropriate within the defined timescales
• Escalate where required, for example to raise an ISR which consequently may require an external escalation such as to the NCA
• Provide internal training across the first line of defence (1LoD) where required to enhance processes and controls in place to mitigate fraud
• Maintain Management Information (MI) for cases managed to report to second line of defence (2LoD) and relevant committees on a regular basis and contribute to regulatory reporting

REQUIREMENTS

• Degree educated
• Fraud related certification
• Understanding of fraud risk management in Banking
• Banking operations experience, particularly in Retail Banking
• Knowledge of Retail Banking products and processes
• Knowledge of Wholesale and Financial Institutions Banking products and processes
• PSD2, PSR and payment services regulations knowledge
• Knowledge of the regulatory, legislative requirements and industry practice for the Financial Crime disciplines, including AML/CTF, Fraud, Sanctions and ABC
• Excellent communication skills
  Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally

• Support business in generating fraud awareness, both internally and externally to customers
• Review output of fraud monitoring tools once implemented to undertake proactive outreach to customers where higher risk transactions have been identified, and receive inbound queries/reports of fraud
• Conduct investigations into allegations of fraud received from business units, make liability decisions based on the findings and create investigation reports detailing the individual circumstances of each case
• Conduct timely, fair, and unbiased investigations into allegations of fraud and determine if they are first party, third party, or other
• Provide customer refunds where appropriate within the defined timescales
• Escalate where required, for example to raise an ISR which consequently may require an external escalation such as to the NCA
• Provide internal training across the first line of defence (1LoD) where required to enhance processes and controls in place to mitigate fraud
• Maintain Management Information (MI) for cases managed to report to second line of defence (2LoD) and relevant committees on a regular basis and contribute to regulatory reportin