Head of Fraud & Financial Crime

Frasers Group; Clayton-le-Moors; On-site; GBP 60,000 - 100,000; Full time

Job description

At Frasers Group we’re rethinking retail. Through digital innovation and unique customer experiences, we’re serving our consumers with the world’s best sports, premium and luxury brands globally. As a leader in the industry, we’re elevating the retail experience for our consumers providing flexible and convenient ways to pay across our collection of established brands, including Studio, Sports Direct, FLANNELS, USC, Frasers, and GAME.

Frasers Group Financial Services is the next chapter of elevation for the Frasers Group.
We fear less and do more. Our people are forward thinkers who are driven to operate outside of their comfort zone to change the future of retail, embracing challenges along the way. The potential to elevate your career is massive, the experience unrivalled.

Our purpose – we are elevating the lives of the many with access to the world’s best brands and experiences.

Frasers Group Financial Services is committed to delivering a positive colleague experience and to be able to make the most of it you need to immerse yourself into delivering on our principles:

Think without limits - Think fast, think fearlessly, and take the team with you.
Own it and back yourself - Own the basics, own your role and own the results.
Be relevant - Relevant to our people, our partners and the planet.

Job Description

Frasers Group Financial Services is a consumer credit lender operating in the UK, which also conducts regulated payment services activities under our Frasers Plus credit product. As we prepare for direct authorisation under the Payment Services Regulations (PSRs) 2017, we are looking to expand our team and recruit a Head of Financial Crime to lead and enhance our financial crime and fraud prevention strategies.
The Head of Fraud & Financial Crime will sit in the first line and will play a critical role in establishing and overseeing financial crime prevention within FGFS, particularly as we look to expand our suite of credit products moving forwards. The holder of the Head of Fraud & Financial Crime role will be Certified under the SM&CR and will be a PSD Individual moving forwards.

Key Responsibilities:

1. Leadership and Strategy:
   - Lead and manage the Financial Crime team, overseeing two sub-teams: Strategy and Servicing.
   - Develop, implement, and oversee the performance of the financial crime and fraud prevention strategies, for FGFS’ inherent AML & fraud typologies. In respect of fraud typologies this will include credit fraud, card payment fraud and payment fraud.
   - Responsible for fraud and financial crime strategy and customer journey optimisation.
   - Ensure that the financial crime policies and procedures are continuously updated in line with the latest regulatory requirements and industry best practices.
   - Act as the subject matter expert (SME) on AML, fraud, and financial crime within the organisation, providing guidance to the wider business in respect of relevant projects/deliverables with financial crime implications.
2. Financial Crime Prevention and Oversight:
   - Ensure robust Anti-Money Laundering (AML) and fraud prevention measures are embedded across all pre- and post-contract customer journeys.
   - Work closely with the Servicing sub-team to ensure that Customer Due Diligence (CDD) checks on Politically Exposed Persons (PEPs) and Sanctions referrals are conducted accurately and in a timely manner.
   - Oversee the investigation, action, and resolution of fraud indicators, either proactively through transaction monitoring, or reactively through customer communications/alerts.
3. Regulatory Compliance:
   - Ensure compliance with the Money Laundering Regulations (MLRs), Joint Money Laundering Steering Group (JMLSG) guidelines, and all relevant regulatory frameworks such as the PSRs 2017.
   - Maintain a comprehensive understanding of applicable laws and regulatory expectations for financial crime and fraud in the credit services industry.
   - Assist in the development of training for FGFS staff on financial crime/fraud compliance and prevention.
   - Stay ahead of emerging trends and threats in financial crime, particularly in respect of digital payments and card services.
4. Collaboration and Reporting:
   - Report regularly to the Credit & Operations Director and FGFS’ Financial Crime & Fraud Forum on the performance and effectiveness of the financial crime strategy and the management of fraud risks.
   - Work closely with the Risk and Compliance (including the FGFS Compliance Director (SMF17)) to ensure the integration of financial crime controls within the broader risk management framework.
5. Team Development:
   - Manage and support the Financial Crime team, ensuring they have the necessary skills and resources to perform their duties effectively.
   - Provide mentoring and career development opportunities for team members, including cross-training between the Strategy and Servicing sub-teams.

Qualifications

- Proven experience in a senior financial crime or fraud prevention role, ideally at a credit card provider and/or payment services firm.
- Deep knowledge of AML frameworks, financial crime prevention practices, fraud detection, and the management of payment fraud (APP fraud, card fraud).
- Extensive understanding of the Money Laundering Regulations (MLRs) and Joint Money Laundering Steering Group (JMLSG) guidelines.
- Demonstrable experience leading teams in a financial crime capacity and implementing financial crime strategies.
- Prior experience working with regulated payment services and understanding of the Payment Services Regulations (PSRs) 2017.
- Strong leadership and management skills with the ability to guide and motivate a diverse team.
- Excellent communication skills, capable of engaging effectively with both internal and external stakeholders.
- Analytical mindset, with the ability to assess complex financial crime risks and identify effective solutions.
- Ability to stay updated with emerging trends, regulations, and technologies in financial crime prevention.

Additional Information

FGFS operates within a regulated environment and as such, any offer of employment will be subject to satisfactory background checks being completed. These include a criminal record check, a financial check, and verification of employment references.

This position is within the remit of the Senior Managers and Certification Regime (SMCR), as set out within the Financial Conduct Authority (FCA) regulatory handbook. Individuals must obtain approval from the FCA prior to carrying out a SMF or Certified role. Once approved, Senior Managers will assume a Duty of Responsibility under the Financial Services and Markets Act (FSMA) and may be held personally accountable if they fail to take reasonable steps to ensure FCA regulatory requirements are adhered to at all times.

Further details about these requirements and responsibilities will be provided during the application process.