Business Function
The IBG Specialist, Credit Fraud Risk Management plays a crucial role in preventing, detecting, and mitigating potential losses arising from credit fraud risks within the Institutional Banking Group (IBG) lending portfolio. This role involves active participation across the entire credit lifecycle, from onboarding and renewal processes to post-disbursement monitoring, ensuring robust fraud control measures are in place and adhered to. The specialist will perform effective reviews on pre-disbursement and post-disbursement cases specifically within the Institutional Banking Group (IBG) credit fraud review operations to ensure a robust process is in place to mitigate any fraud risk that may arise due to fraudulent activities, whether committed by external or internal parties, throughout the end-to-end credit process.
Key Accountabilities
- Fraud Risk Management & Control:
- Develop, implement, execute, and regularly review credit fraud strategies, preventive, and control measures specifically tailored for IBG products, aligning with target market, business strategy, and operational models. This includes addressing location-specific system/process constraints.
- Conduct fraud risk assessments to ensure that infrastructure, controls, systems, and processes are robust against falsified information, data, and documents by individuals, syndicates, or internal/external collaborators.
- Collaborate closely with Business Units (BU) and Supporting Units (SU) on day-to-day credit fraud risk management activities, including the maintenance of internal blacklists of companies and individuals.
- Provide guidance and training to BU/SU personnel, Relationship Managers (RMs), and Credit Risk Managers (CRMs) on credit fraud risks, prevention methods, and reporting procedures.
- Ensure all IBG Mid Cap and SME ( 3 &4 ) customers, whether new or undergoing renewal or additional/changed credit facilities, and new buyers/suppliers, undergo manual INSTINCT fraud checking and document fraud checking.
- Perform checks on Know Your Customer (KYC) reviews on a sample basis during the underwriting stage or upon request by RM or CRM.
- Fraud Detection and Investigation:
- Review IBG loan applications and conduct INSTINCT checks for new applications, renewal accounts, and new buyer/supplier relationships.
- Lead investigations into IBG fraud-indicated accounts, working with relevant internal and external parties.
- Identify and investigate suspicious activities or red flags related to IBG fraud, such as shipping document fraud, invoice fraud, documentation fraud, company registration fraud, financial statement fraud, and related buyer/supplier fraud.
- Assess and investigate escalations raised by Trade Operations (Trade Ops) during pre-processing, transaction processing, and post-transaction monitoring, determining if issues are fraud or credit risk-related.
- Escalate confirmed or suspected fraud events promptly, utilizing the Fraud Incident Reporting and Escalation (FIRE) report.
- Conduct verification and authentication of information provided in credit memos or application forms for IBG facilities, including management identity documents, company financial data, company legality data, trade checking, and collateral data.
- In cases of suspected fraudulent submissions by referrers, escalate to Sales, Credit, and Financial Crime & Security Services (FCSS).
- Policy and Process Adherence:
- Manage relevant IBG Standard Operating Procedures (SOPs) and policies related to credit fraud.
- Maintain Risk & Control Self-Assessment (RCSA) for IBG and Trade and manage audit responses.
- Ensure compliance with the Bank's relevant credit policies and specific regulatory requirements within the fraud risk management scope.
- Provide timely updates to Business Senior Management and Credit Risk Managers regarding concerns that may indicate a potential change in a borrower's creditworthiness.
- Reporting and Analytics:
- Prepare and distribute monthly management information reports on processed volume, fraud detection rates, and productivity.
- Analyze data to identify abnormalities and fraud trends, enhancing fraud rules and parameters or models.
- Provide Management Information System (MIS) data and analytics to fraud managers, Business Units, and senior management for fraud prevention, detection, investigation, and strategy planning.
- Stakeholder Engagement:
- Serve as a key communication channel between Business and Credit units, facilitating information sharing to improve credit fraud management processes bank wide.
- Engage with Business Units to ensure alignment on key policies, processes, and overall approach to the credit process.
- Work with Credit Risk Managers to ensure data provided by Relationship Managers is accurate for IBG customers.
Job Duties & Responsibilities
1. Conduct reviews on new IBG applications, which includes INSTINCT checks and on-boarding document reviews, to detect any indication of fraud risk. This involves collecting customer information, filling out the INSTINCT worksheet, ensuring completeness and accuracy of data, and confirming fraud results.
2. Perform reviews on existing IBG accounts, involving transaction monitoring and post-disbursement reviews, to identify potential fraud risks as part of fraud risk detection. This includes selecting samples based on triggers such as First Payment Default (FPD), Early Warning Signal (EWS), Watchlist, or significant issues with new booking accounts.
3. Support in facilitating fraud risk awareness training for relevant stakeholders, such as Business Units (BU), Credit Relationship Managers (CRM), SAM, Collection, and Operations, to build and raise fraud risk awareness across related units.
4. Interact closely with CRMs to validate and detect suspicious or doubtful credit processes and provide recommendations related to fraud risk for credit decision-making, especially for applications that should be declined.
5. Contribute to managing the Operating Procedural Manual by ensuring it is updated with changes in processes and guidelines on a timely basis.
6. Ensure timely updates of fraud incidences and adherence to the fraud framework.
7. Verify and authenticate information and documents provided by applicants for IBG products, including checking company websites, corporate documents, business licenses, PEP (Politically Exposed Person) status, litigation records, and trade checks.
8. Validate bank statements for unreasonable or abnormal transactions and financial documents by checking with issuing public accountant offices and cross-referencing with bank statements.
9. Conduct internet searches for any negative or adverse news/records against the borrower and buyers/suppliers.
10. Process referred cases from various units like CRM, Early Warning, Business Unit, or Trade Operations, ensuring complete documentation and performing necessary fraud checks.
11. Escalate confirmed or suspected fraud matters to the Anti-Fraud unit using the Fraud Incident Reporting and Escalation (FIRE) report.
12. Upload fraudster information into the INSTINCT criminal database and Financial Crime Intelligence System (FCIS), and inform the Early Warning team to include the data in the Watchlist.
13. Perform site visits to borrowers or counterparties when necessary to validate existence, business activities, and clarify documents.
Requirements
- Minimum 7 years of experience in credit risk management, fraud investigation, or a related field within the financial services industry
- Strong analytical and problem-solving skills, with the ability to identify patterns, trends, and anomalies in complex data sets
- Excellent communication and interpersonal skills, with the ability to effectively present findings and recommendations to various stakeholders
- Thorough understanding of banking regulations, compliance requirements, and industry best practices related to credit fraud prevention and detection
- Proficient in the use of data analysis tools, fraud detection software, and other relevant technologies
- Ability to work collaboratively in a team environment and across different business units
Apply Now
We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.

Location:

Jakarta Head Office

Job:

Risk Management

Schedule:

Regular

Employee Status:

Full time

VP, Credit Fraud IBG Specialist , Risk Management Group