Published on

Feb 10, 2024

Published on

Feb 10, 2024

Published on

Feb 10, 2024

Published on

Feb 10, 2024

Global Head of Money Mules and First Party Fraud

Global Head of Money Mules and First Party Fraud

Global Head of Money Mules and First Party Fraud

Global Head of Money Mules and First Party Fraud

Full-time

/

London, England

/

Hybrid

Full-time

/

London, England

/

Hybrid

Full-time

/

London, England

/

Hybrid

Full-time

/

London, England

/

Hybrid

About the job

Job Description

If 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.

Requirements

Experience


  • The role holder will ideally have previous leadership level experience within a Fraud and / or Credit Risk function.

  • Demonstrated experience in building out new functional capabilities, navigating stakeholders across functions and markets and delivering results.

  • Knowledge of fraud & credit decision systems and analytic capabilities, familiarity with usage of advanced models & rules for real-time decisioning.

  • Knowledge of strategic delivery of controls within a large multi-faceted operation and detailed knowledge of products and governance structures

  • Experience of working within a multi matrixed organization engaging with executive level stakeholders is essential with a proven record of resolving operational challenges.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

Email: hsbc.recruitment@hsbc.com

Telephone: +44 207 832 8500

About the job

Job Description

If 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.

Requirements

Experience


  • The role holder will ideally have previous leadership level experience within a Fraud and / or Credit Risk function.

  • Demonstrated experience in building out new functional capabilities, navigating stakeholders across functions and markets and delivering results.

  • Knowledge of fraud & credit decision systems and analytic capabilities, familiarity with usage of advanced models & rules for real-time decisioning.

  • Knowledge of strategic delivery of controls within a large multi-faceted operation and detailed knowledge of products and governance structures

  • Experience of working within a multi matrixed organization engaging with executive level stakeholders is essential with a proven record of resolving operational challenges.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

Email: hsbc.recruitment@hsbc.com

Telephone: +44 207 832 8500

About the job

Job Description

If 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.

Requirements

Experience


  • The role holder will ideally have previous leadership level experience within a Fraud and / or Credit Risk function.

  • Demonstrated experience in building out new functional capabilities, navigating stakeholders across functions and markets and delivering results.

  • Knowledge of fraud & credit decision systems and analytic capabilities, familiarity with usage of advanced models & rules for real-time decisioning.

  • Knowledge of strategic delivery of controls within a large multi-faceted operation and detailed knowledge of products and governance structures

  • Experience of working within a multi matrixed organization engaging with executive level stakeholders is essential with a proven record of resolving operational challenges.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

Email: hsbc.recruitment@hsbc.com

Telephone: +44 207 832 8500

About the job

Job Description

If 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.

Requirements

Experience


  • The role holder will ideally have previous leadership level experience within a Fraud and / or Credit Risk function.

  • Demonstrated experience in building out new functional capabilities, navigating stakeholders across functions and markets and delivering results.

  • Knowledge of fraud & credit decision systems and analytic capabilities, familiarity with usage of advanced models & rules for real-time decisioning.

  • Knowledge of strategic delivery of controls within a large multi-faceted operation and detailed knowledge of products and governance structures

  • Experience of working within a multi matrixed organization engaging with executive level stakeholders is essential with a proven record of resolving operational challenges.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces. Our recruitment processes are accessible to everyone - no matter their gender, ethnicity, disability, religion, sexual orientation, or age.

We take pride in being part of the Disability Confident Scheme. This helps make sure you can be interviewed fairly if you have a disability, long term health condition, or are neurodiverse.

If you’d like to apply for one of our roles and need adjustments made, please get in touch with our Recruitment Helpdesk:

Email: hsbc.recruitment@hsbc.com

Telephone: +44 207 832 8500

About Company

Opening up a world of opportunity for our customers, investors, ourselves and the planet.We're a financial services organisation that serves more than 40 million customers, ranging from individual savers and investors to some of the world’s biggest companies and governments. Our network covers 63 countries and territories, and we’re here to use our unique expertise, capabilities, breadth and perspectives to open up a world of opportunity for our customers. HSBC is listed on the London, Hong Kong, New York, Paris and Bermuda stock exchanges.To view our social media terms and conditions please visit the following webpage: http://www.hsbc.com/social-TandCs

Total Employees

172,045

Company 2-Year Growth

7%

Median Employee Tenure

6.3 years