Are you passionate about creating an exceptional client experience?
Discover your opportunity with Union Bank, a division of the Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. At Union Bank, we care about the details that matter most to our clients. We have our clients’ best interest in mind, drawing on more than 150 years of experience to understand their distinct needs and tailor our solutions. We’re part of 150,000 colleagues around the globe striving to be the world’s most trusted financial group. Trust starts with a culture of putting people first and empowering you to achieve your potential. Join Union Bank, where being inspired is expected and creating results is rewarded.
The Director of Fraud Management (FM) is responsible for the implementation and maintenance of the First Line Fraud program, operations and strategy, and will lead and manage the day-to-day operations of the Fraud Management Group. The Director will ensure the appropriate level of prevention, deterrence, detection and investigation is detailed, executed and validated to protect the firm and its employees and customers from fraud, theft, embezzlement and operational losses. The FM Director must ensure compliance with applicable laws and regulations. The Director is also responsible for efficient, accurate, and effective collection of pertinent data for analysis, trend identification, follow-up and reporting on potential loss, actual loss and fraud indicators. The Director is accountable for providing detailed loss analysis and reporting to Senior and Executive Management to assist in the Bank's overall strategic objectives for loss reduction and avoidance. The position will be the subject matter expert in Fraud, influencing strategy, investment and balancing risk/reward across product lines. The Director must ensure a coordinated and layered fraud execution capability exists, that fraud controls are executed in accordance with established policies and risk appetite and proactively communicates end to end performance (e.g. losses, expenses, client impacts, business impact, etc.) to Business and Risk partners. This position provides SME insight to help the Business Unit Risk design and execute required controls to handle fraud risks.
The ownership, responsibility and accountability for the design and execution of the controls that respond to and mitigate fraud risk. Responsible for annual refresh of the FM fraud program, articulating changes in the threat landscape, updates to controls and/or infrastructure, issue management and threats/gaps and investment requirements. Responsible for serving as a SME in Fraud, providing support, reporting and mentorship for BU’s developing supplemental Fraud Programs/strategies led outside of the FM. Accountable for providing mentorship, performance results, investment needs, etc. to First Line Business Partners. Relationship serves as a trusted partner in handling fraud exposure. Responsible for Fraud infrastructure – includes technology tool, roadmap, investment plan and model documentation / back testing and Third Party Management oversight for outsourced Fraud activities. Establishment of Fraud Management organizational goals and performance criteria to evaluate staff in conjunction with established policy, the Bank's liability and position in regard to operational loss incidents. Ensure all direct staff members are dedicated to the mission of reducing the incidence of loss or fraud through prevention and education and by responding appropriately to alleged, suspected or detected loss and fraud incidents. Maintain ongoing training and performance management to ensure staff is knowledgeable with banking regulations, laws and codes as well as the legal application to protect the Bank's assets. Perform quarterly budget forecasting for assigned areas. Establish metrics/tracking of all fraud prevention tools (software), applications, work processes and resource utilization, to track strategic efficiency and/or precision. Must actively participate in peer groups, industry forums and networking to assure awareness of what’s happening in the market (trend, risk, new tools) and to learn and apply standard methodologies. Provide management reporting and trend analysis identifying the source of significant operational risks, possible vulnerabilities or weaknesses, and recommendations for policy or procedural changes. Liaison with government agencies, and bank regulators, as well as internally with Audit, Legal, Employee Relations, Independent Fraud Risk Management, Operational Risk Management, Loss Recovery Unit, Corporate Security, the Financial Intelligence Unit and Business Line Management as required. Develop actionable reports for senior management, business unit partners, Operational Risk Management Committee, Americas Risk Management Committee, the Board and regular Regulatory updates – discussing performance, fraud threat, risk appetite, emerging risk and solutions to mitigate (balance risk/reward).