Senior Manager, Fraud & Risk Management, Unsecured Lending

Scotiabank•Toronto, ON

2d•Onsite

About The Position

Leads and oversees a First Party Fraud Analytics mandates in Retail Unsecured Lending Products Canada, ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies, and procedures. In this role, you will be accountable for developing, executing, and monitoring First Party Fraud Credit Risk strategies for Canadian Banking across all lifecycles, multiple platforms and products, primarily focusing on Unsecured Retail Products (Credit Cards, Unsecured Line of Credit, Personal Loans and Overdraft), leveraging best in class analytics. You will analyze first party fraud losses and key drivers, investigate emerging trends/ alerts, and identify gaps in controls, policies and procedures; provide recommendations to prevent and mitigate the existing and future losses. You will develop and automate first party fraud loss reporting and MIS, monitor and forecast the reportable losses against established risk appetite, escalate breaches and recommend action plans. You will identify new First Party Fraud mitigation opportunities across all lifecycles and assist and/or lead the development and implementation of the initiatives working with stakeholders across IT, Fraud Operations and other business partners to ensure projects are executed successfully and on time. You will assist in the development of First Party Fraud models (e.g. application frauds, credit card transactions) using data sciences and statistical mining tools (Python, SAS, R) to create high risk alerts for actions. You will liaise with industry experts and partners (including Credit Bureaus, Fraud Consortium, external vendors) to drive opportunities to leverage new data and technology to improve First Party Fraud strategy. You will collaborate with operational partners (sales unit, mid office, collections and credit loss provisions) to improve First Party Fraud review process and loss allocation. You will participate in fraud incident management, investigate suspicious transactions and control breaks, escalate and recommend quick response -- maintaining a log of issues, gaps and resolutions. You will build a high-performance environment and implement a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team. The Senior Manager is expected to exercise independent judgement and discretion in delivering on their mandate. You will oversee and work with other risk and fraud management teams to assist in the development of First Party Fraud mitigation strategies, policies, controls and processes primarily for the Canadian Retail Unsecured Lending portfolios, including: Credit Cards, Line of Credits, Personal Loans, and Overdraft and any others such as Indirect Auto as required. You will monitor First Party Fraud Losses and identify drivers and emerging trends using data across enterprise platforms and systems to mitigate and prevent First Party Fraud loss exposure. You will support the delivery of initiatives as planned (on time/on budget), achieve fraud loss targets and customer experience targets identified in the annual plan, achieve plan results while mitigating all operational and reputational risk, and develop effective working relationships with partners both internally and externally. You will contribute to the department’s employee satisfaction and diversity targets.

Requirements

A University degree, preferably in field related to analytics, statistics, mathematics, computer science, or business management related field.
7+ years analytical experience including advanced statistical analysis or extensive background related to Fraud and financial crimes or Risk Management; Should have the ability to draw and communicate key insights from data
Have experience and knowledge related to identifying, managing, mitigating and investigating fraud and financial crimes
Strong communication and relationship building skills essential with clients, vendors and management
Strong prioritizing, planning, analytical, presentation, project management, and relationship building skills
Experience with statistical software such as SQL, SAS, Python, and others OR strong change management experience
Must be curious, self-motivated, energetic and results-oriented and be committed to adding value to the organization

Nice To Haves

Experience with risk platforms, fraud monitoring tools, fraud MIS database management strongly desired

Responsibilities

Accountable for developing, executing, and monitoring First Party Fraud Credit Risk strategies for Canadian Banking across all lifecycles, multiple platforms and products, primarily focusing on Unsecured Retail Products (Credit Cards, Unsecured Line of Credit, Personal Loans and Overdraft), leveraging best in class analytics.
Analyze first party fraud losses and key drivers, investigate emerging trends/ alerts, and identify gaps in controls, policies and procedures; provide recommendations to prevent and mitigate the existing and future losses
Develop and automate first party fraud loss reporting and MIS, monitor and forecast the reportable losses against established risk appetite, escalate breaches and recommend action plans
Identify new First Party Fraud mitigation opportunities across all lifecycles and assist and/or lead the development and implementation of the initiatives working with stakeholders across IT, Fraud Operations and other business partners to ensure projects are executed successfully and on time
Assist in the development of First Party Fraud models (e.g. application frauds, credit card transactions) using data sciences and statistical mining tools (Python, SAS, R) to create high risk alerts for actions
Liaise with industry experts and partners (including Credit Bureaus, Fraud Consortium, external vendors) to drive opportunities to leverage new data and technology to improve First Party Fraud strategy
Collaborate with operational partners (sales unit, mid office, collections and credit loss provisions) to improve First Party Fraud review process and loss allocation.
Participate in fraud incident management, investigate suspicious transactions and control breaks, escalate and recommend quick response -- maintaining a log of issues, gaps and resolutions
Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
Oversee and work with other risk and fraud management teams to assist in the development of First Party Fraud mitigation strategies, policies, controls and processes primarily for the Canadian Retail Unsecured Lending portfolios, including: Credit Cards, Line of Credits, Personal Loans, and Overdraft and any others such as Indirect Auto as required.
Monitor First Party Fraud Losses and identify drivers and emerging trends using data across enterprise platforms and systems to mitigate and prevent First Party Fraud loss exposure
Support the delivery of initiatives as planned (on time/on budget)
Achieve fraud loss targets and customer experience targets identified in the annual plan
Achieve plan results while mitigating all operational and reputational risk
Develop effective working relationships with partners both internally and externally
Contribute to the department’s employee satisfaction and diversity targets