What you will be responsible for
· Fraud risk framework and governance: Maintain and continuously enhance the Wealth Custody and Clearing fraud risk framework, governance routines, risk taxonomy, control inventory and strategic roadmap in alignment with enterprise policy and business objectives.
· Fraud risk assessments: Lead or coordinate periodic and event-driven fraud risk assessments across products, services, client channels, processes, systems and third-party relationships; identify material fraud themes, emerging exposures and control gaps requiring management attention.
· Fraud strategy and controls: Develop and maintain fraud prevention and detection strategies aligned with the Wealth Custody and Clearing business model, risk appetite, products and client population. Partner with control owners to design, implement, document and enhance sustainable preventive and detective controls.
· Control scope: Define and assess fraud control requirements related to client onboarding, identity verification, authentication, account maintenance, beneficiary and ownership changes, money movement, transaction approvals, employee access, exception management and other high-risk activities.
· Monitoring and analytics: Establish and monitor fraud key risk indicators, key performance indicators, thresholds, dashboards and management information. Analyze fraud events, alerts, losses, prevented losses, control exceptions and client friction to identify trends and control enhancement opportunities.
· Rules and detection capabilities: Partner with Operations, Product, Technology, Data, Cybersecurity and service providers to enhance fraud rules, monitoring scenarios, decision logic, alert quality and reporting, and to assess whether controls appropriately cover new products, channels and emerging fraud patterns.
· Emerging fraud risks: Monitor and assess threats including account takeover, identity theft, social engineering, impersonation scams, fraudulent money movement, insider activity, digital-channel threats, financial exploitation and other relevant internal and external fraud typologies.
· Change and new business: Review new products, material business changes, process changes and technology initiatives to ensure fraud risks, dependencies and required controls are identified and addressed early in the change lifecycle.
· Incidents and investigations coordination: Coordinate the Wealth Custody and Clearing response to potential or confirmed fraud incidents in accordance with established escalation and response protocols. Ensure timely engagement of Global Security, Compliance, Legal, Operations, Cybersecurity, third parties and other stakeholders, as appropriate.
· Issues and remediation: Lead or facilitate root-cause and lessons-learned reviews; ensure control deficiencies are documented, assigned, escalated and remediated through the applicable issue management process; and monitor remediation progress through closure.
· Third-party fraud oversight: Oversee fraud-related risks and controls arising from clearing, custody, technology, RIA, vendor and other third-party relationships. Define and assess fraud-related reporting, incident notification, control evidence, audit trail, service level and escalation requirements.
· Management reporting and awareness: Produce concise, decision-useful reporting for senior management and governance committees on fraud exposure, incidents, losses, control performance, issues, remediation status and strategic priorities. Develop fraud awareness materials and provide guidance to Wealth Custody and Clearing personnel.
· Broader Business Risk Advisor support: Dedicate approximately 20% of capacity to broader non-fraud Business Risk Advisor activities, including regular risk reviews, business risk reporting, governance support and the identification and assessment of business risks and controls.
· Risk and issue management: Assist the business in identifying non-fraud issues, incidents and control gaps; support root-cause analysis, remediation planning, escalation and ongoing monitoring of corrective actions.
· Assurance and examinations: Assist with the preparation and coordination of audit events, regulatory examinations and other independent reviews; escalate perceived violations of rules, regulations, policies or procedures and recommend an appropriate course of action.
· Enterprise risk programs: Partner with the second and third lines of defense consistent with risk management and control objectives; support the Business Line Risk Profile and relevant Third-Party Risk Management, Information Security Risk Management, Data Governance and other enterprise risk activities.