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Form of workIf you’re looking for a career that will help you stand out, join HSBC and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.
Our Wealth and Personal Banking business supports millions of individuals, families, business owners, investors and entrepreneurs worldwide.
We provide products and services that include current accounts, credit cards, personal loans and mortgages, as well as savings, investments, insurance and wealth management.
We also have specialised relationship managers who support customers with bespoke requirements, including high net worth and ultra-high-net-worth clients.
As an HSBC employee in the UK, you will have access to tailored professional development opportunities and a competitive pay and benefits package.
This includes private healthcare for all UK-based employees, enhanced maternity and adoption pay and support when you return to work, and a contributory pension scheme with a generous employer contribution.
Fraud and Credit Services (FCS) is a first line of defence control function in Wealth & Personal Banking (WPB), with the core purpose of supporting the entire Customer credit journey and creating sustainable outcomes for the Customer and the Bank and managing internal and external fraud threats.
FCS is organised into 6 core specialised capability driven sub-functions: Credit Bureau Management, Data & Decision Systems, Underwriting Services, Collections, External Fraud and Internal Fraud.
These are technical domains that require deep subject matter expertise. These domains are constantly evolving so an understanding of market practices, constant change to adapt and reskill are a core part of the requirement to keep domain expertise relevant.
Fraud become extremely sophisticated in recent time with the Bank seeing a rise in Money mules and First Party Frauds. Money Mules pose a significant non-financial risk as failure to effectively manage this risk can result in reputational risk and regulatory action including large financial penalties.
With latest regulatory changes in the UK, Money Mules will also pose a financial risk to the bank through the new reimbursement model for scams. First Party Fraud poses a direct financial risk to the Banks’ growth aspirations and if not managed effectively, can negatively impact growth plans by lowering profitability expectations.
As HSBC grows its portfolios across unsecured lending, international, wealth management and real time cross border money transfer products, the risk of Money Mules and Fraud will significantly increase.
This role will be responsible for both these key risks for FCS as a part of the wider global Fraud function. The role will be tasked with creating a holistic strategy and will have functional accountability to manage these controls end to end across technology, analytics and operations.
Responsibilities
• Set up a new Money Mules management capability within Fraud and develop a roadmap to build out over and agreed timeframe across all regions while assessing existing mule controls and optimise to manage risk while new capabilities take shape.
• Deliver real-time inbound payment monitoring capability across major markets and ensure there is robust MI for performance measurement and regular insights are shared with key stakeholders for informed decision making
• Leverage analytic capabilities and data assets to significantly improve mule and First Party detection capabilities through implementation of advanced rules and models and evaluate new latest external technologies for usage and create business cases to seek required funding from the business.
• Oversee the build out of operational capabilities to investigate mule alerts by ensuring appropriate levels of staffing, development of standard procedures and maintaining expected service levels.
• Develop and implement a global framework for end-to-end management of First Party Fraud losses within risk ensure that First Party Fraud policy is fit for purpose and captures all types of activities impacting the business.
• Ensure close collaboration and alignment with credit risk teams on strategies and detection capabilities and conduct regular horizon scanning for emerging risks and read across insights to ensure new risks are being proactively managed by markets.
• Work closely with Underwriting operations to ensure there is sufficient capacity to handle alerts and effective procedures are in place to identify potential First Party Fraud applications and ensure First Party Fraud risk is appropriately governed at global and market levels.
• Ensure proactive defense from Money Mule risks and First Party fraud through strategy setting and development, analytics, and operations management and implementation of appropriate controls.
• Setup and maintain oversight on bespoke operations and investigation capabilities and provide strategic direction, navigating complex organisational structures and engaging teams across geographies.
