Fraud Risk 2nd LOD Lead Analyst, Vice President

Job Description

The Operational Risk Management
- Fraud Risk lead for Credit Cards is a pivotal role responsible for providing independent oversight, challenge, and guidance on fraud risk management strategies, policies, and controls within the Credit Card business. This role ensures the effectiveness of the First Line of Defense's fraud prevention and detection programs, advises on emerging fraud threats specific to the credit card landscape, and contributes to maintaining a robust fraud risk posture that protects the company's assets, reputation, and customer base.

• Develop, maintain, and execute a comprehensive Second Line of Defense oversight program for credit card fraud risk, including policies, standards, and appetite statements; ensuring their effective application within the business.
• Review and challenge the effectiveness of risk mitigation strategies and control measures implemented by the 1st line of defense.
• Independently assess fraud risks within the business to ensure they are within the acceptable risk appetite, identifying any potential areas of vulnerability.
• Collaborate with the Credit Cards business to understand its risk profile, evaluate fraud risk exposure, incorporate risk mitigation strategies, and monitor compliance.
• Advise on and contribute to the development of enterprise-wide and credit card-specific fraud risk policies and procedures, ensuring alignment with regulatory requirements, associations, and industry best practices.
• Provide expert guidance on emerging fraud trends, sophisticated attack vectors (e.g., synthetic identity, account takeover, application fraud, transaction fraud), and technological advancements impacting credit card fraud.
• Prepare and present comprehensive fraud risk reports and recommendations to senior management and risk committees.
• Lead initiatives to enhance fraud risk management practices, contributing to overall organizational resilience and readiness against potential fraud risks.
• Stay updated on industry best practices and regulatory changes to assess their impact on fraud risk management and advise the business accordingly.
• Support the execution of remediation actions with timely and effective outcomes against regulatory and stakeholder expectations.
• Promote a culture of risk awareness and accountability in the business, escalating any fraud risks as appropriate and collaborating with teams to establish detective and preventive measures.
• Support independent oversight and assurance over the bank’s broader operational risk management frameworks, ensuring compliance with regulatory requirements and internal policies.
• Collaborate effectively with First Line fraud operations, product teams, technology, compliance, credit risk and legal departments to foster a strong culture of fraud risk management.
• Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of teams and create accountability with those who fail to maintain these standards.
• Engage key stakeholders early and often and actively look for opportunities to improve collaboration in achieving common goals.
• Proactively seek out opportunities to volunteer in Citi programs that support the community; advocate for solutions that meet the needs of Citi’s clients and the community.
• Enthusiastically promote the unique needs and preferences of colleagues; make active commitment to help colleagues achieve balance, well-being, and development.

• 6-10 years of experience.
• Previous experience in fraud risk management within the financial services industry and desirable experience with credit card fraud prevention, detection, and investigation lifecycle.
• Deep understanding of fraud risk concepts, methodologies, and tools.
• Familiarity with regulatory requirements related to…