Fraud Specialist Money Mules - Remote, United Kingdom - Virgin Money

Virgin Money

Verified Company

Remote, United Kingdom

2 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Job no: 074834

Work type:
Permanent Full Time

Location:
Remote - work from anywhere within the UK

Categories:
Risk

Business Unit:
Fraud & Financial Crime, Group Customer Experience

Salary:
£36,800 - £46,000 per annum depending on experience

Location:
Remote - work from anywhere within the UK

Contract Type:
Permanent

Join Virgin Money as we transform our team into one that is ready to meet the challenges of the future, setting us up to support our ambition to disrupt the status quo and turn traditional banking on its head.

We're on the lookout for likeminded individuals and innovators to help drive our strategy forward.

We're also transforming how we work, offering our colleagues more choice, control and flexibility to live and work how they choose with A Life More Virgin.

Here's what it means for YOU:

38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)
Five extra paid wellbeing days per year
A 35 hour working week
20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
Market leading Pension & Private Medical Insurance
Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
Ability to work anywhere in the UK (where the role allows)

And, you get these Red Hot Rewards from day one

The Economic Crime team is a first line of defence function responsible for day-to-day fraud and financial crime risk identification, ownership, management & control.

Key responsibilities of the function include:

Setting and delivering the economic crime strategies.
Embedding a supportive risk culture
Maintaining an effective control environment by implementing processes and procedures which adhere to policy set by the second line of defence.
Providing EC expertise to drive change, as the Business looks to refine/ improve processes and controls currently impacting customer experience.

We are looking for an experienced fraud analytics specialist who will be responsible for developing the 'Money Mule' prevention strategy focusing on the bank's vulnerability in providing accounts to mules that help launder the proceeds of fraud and money laundering.

You will focus on onboarding journeys for current account, transactional and behavioural characteristics to combat money mules who transfer fraudulent proceeds wittingly or unwittingly between bank accounts at the request of criminals.

This will involve the analysis of data and creation of rules in in-house detection systems to detect and prevent mule fraud.

Working with stakeholders inside and outside the bank, you will be part of an innovative fraud analytics team that tune Non-Plastic fraud defences to prevent fraud, while balancing operational impact and genuine customer interventions.

We'll ask you to

Develop rules within the inhouse fraud detection system to combat mule fraud, using techniques such as historical data analysis of patterns and behaviours; link analysis; and anomaly detection.
Configure systems to manage fraud risk within appetite and budget.
Optimise and monitor performance of money mule detection and prevention systems and associated models.
Contribute to the development of the bank's mule prevention strategy in collaboration with Financial Crime analytics.
Consider changes to onboarding journeys including data capture and controls.
Contribute to education on mules, including input into internal learning content and customer campaigns.
Produce accurate and relevant fraud MI required by governance committees and stakeholders relevant to Money Mule activity.
Provide SME analysis to support maintenance, development and investment in fraud defence systems.
Act as a fraud SME on projects relating to the combatting of money mules.
Represent VMUK on the Money Mule UK Finance industry group and translate intelligence into our prevention strategies.

There are a few essentials you need to bring

Substantial experience in a Fraud Strategy analytics function within UK Retail Banking.
Practical experience of using SAS, SQL or equivalent analytical tools to develop data driven solutions
Proven track record of Non-Plastic fraud systems strategy optimisation to manage losses within budget.
Extensive knowledge of industry standard Non-Plastic fraud systems and data sources

The icing on the cake would be

Experience in the identification and prevention of money mules
Knowledge of analytical tool such as SAS, SQL and Power BI
Knowledge of wider fraud risks, threats and UK bank landscape

We really need you to have the skills and experience listed in the 'There are a few essentials you need to bring' section above, but the rest is just our wish list, so don't let that put you off applying, we'd love to hear from you

We're all about helping you Live A Life More Virgin, so happy to talk flexible working with