Fraud Risk Lead

About the Role

Join a pioneering digital wholesale bank in Singapore focused on making financial services easier and more accessible for SMEs. As a fully MAS-regulated entity, the bank is dedicated to continuous innovation aimed at delivering simpler, safer, and more rewarding solutions. The Fraud Risk Lead will play a pivotal role in executing and enhancing the bank's fraud risk strategy, ensuring alignment with MAS regulations, enterprise risk management standards, and leading industry practices. You will oversee monitoring, detection, case investigations, and engage both internal and external stakeholders within the anti-fraud domain.

Responsibilities

• Update and fine-tune the bank’s fraud risk policies and strategy, establishing effective control measures in daily operations.
• Create and improve fraud risk dashboards and Key Risk Indicators (KRIs) to continuously track fraud exposure and report to senior leadership and oversight committees.
• Ensure adherence to applicable regulatory, law enforcement, and financial crime prevention guidelines, benchmarking against industry standards.
• Collaborate with fraud and banking technology teams to develop, calibrate, validate, and improve fraud detection rules and AI/machine learning models.
• Work alongside the data team to analyze fraud patterns, scanning for emerging threats including scams, mule accounts, account takeovers, application fraud, and social engineering tactics.
• Coach junior staff to advance skills in fraud investigation, analytics, and risk management.
• Manage case escalations, decisions, and submit regulatory reports like Suspicious Transaction Reports (STRs) and police notifications.
• Conduct fraud risk evaluations for new products and system/process modifications.
• Serve as the primary contact for regulators, law enforcement, and inter-bank fraud networks, ensuring timely responses and compliance.
• Support audit processes and risk assessments, both internally and externally.
• Develop and deliver fraud awareness training for bank employees, keeping staff well-informed about fraud policies and new trends.
• Create educational materials to help customers recognize and prevent scams.
• Promote a culture of proactive fraud risk management emphasizing timely reporting, critical thinking, and sound judgment.

Qualifications and Experience

• Minimum of 10 years in fraud risk or anti-financial crime roles within banking or fintech sectors, combining strategic design and operational expertise.
• Experience specifically in corporate banking fraud risk involving trade finance, corporate payments, or corporate account fraud is essential.
• Proven capability to establish or refine comprehensive fraud risk frameworks from the ground up.
• In-depth knowledge of fraud types including application fraud, mule accounts, account takeover, authorized push payment scams, first/third-party fraud, and internal fraud.
• Strong background in fraud analytics, reporting, and data-driven detection measures.
• Well-versed in MAS regulations concerning fraud, cyber security, scams, and data privacy.
• Proven experience liaising with regulators, law enforcement agencies, and sector associations.
• Excellent communication and stakeholder management skills across departments like Risk, Compliance, Technology, Operations, and Business units.

Personal Attributes

• Highly self-driven and collaborative team player.
• Detail-oriented with strong execution skills.
• Resilient and adaptable in a dynamic, fast-paced environment.
• Highly risk-conscious with the ability to act decisively and urgently.

Preferred Qualifications

• Mandarin communication skills to facilitate engagement with Mandarin-speaking partners and stakeholders.
• Professional certifications such as Certified Fraud Examiner (CFE) or CAMS.
• Previous exposure to digital banks, neobanks, or fintech companies.