At a Glance
- Tasks: Lead regulatory engagement and manage fraud risk assessments in a dynamic banking environment.
- Company: Join Virgin Money, a pioneering mutual bank dedicated to fair and rewarding banking for all.
- Benefits: Enjoy 38.5 days of annual leave, flexible benefits, and comprehensive health coverage from day one.
- Other info: Remote work available; apply early as the position may close quickly due to high interest.
- Why this job: Make a real impact in the fight against fraud while working in an inclusive and fun culture.
- Qualifications: Proven experience in fraud risk assessment and regulatory compliance within retail banking is essential.
The predicted salary is between 58400 - 73000 £ per year.
Salary range: £58,400 - £73,000 per annum
Location: UK Remote
Contract type: 12 Month FTC Our Team It’s an exciting time for us as we grow our Economic Crime (PROTECT) team who have a critical role to play, keeping us and our customers safe. They are our first line of defence function and responsible for day-to-day fraud and financial crime risk identification, ownership, management and control. We’ve an exciting opportunity for an experienced fraud professional who will be responsible for leading our regulatory engagement to ensure effective horizon scanning and compliance whilst providing subject matter expertise to a varied portfolio of change initiatives. What you’ll be doing
- Leading engagement with key regulatory stakeholders such as FCA/PSR.
- Leading Horizon Scanning activities within the first line of defence.
- Providing SME input into bank projects which require a fraud risk assessment.
- Provide insights through benchmarking of Fraud capabilities to stay ahead of the competition and respond to ever changing marketplace & regulatory landscape.
- Partnership with industry experts in creation of leading-edge capabilities to prevent fraud.
- Supporting the Head of Fraud Advisory and Insights with the maintenance of an effective change and regulatory engagement governance model.
- Represent the bank in key engagements with partners and regulatory bodies as required
- Supporting the Fraud Analytics and Fraud Strategy teams to ensure the tools and solutions remain fit for purpose.
- Supporting the effective engagement with 3rd party suppliers to ensure tools and solutions remain supported and deliver value for the business.
- Demonstrable track record of operating governance and reporting to Board sub-committee level.
- Significant experience assessing fraud risk within a Retail bank environment.
- Expert understanding and experience of relevant fraud legislation and effective industry lobbying.
- Significant experience assessing, implementing and advising on regulatory requirements.
- Experience of preparing reports and papers to influence senior stakeholders with excellent attention to detail.
- Gravitas to challenge and influence senior management to get the best outcome
- Fraud expertise across all distribution channels and typologies
Red Hot Rewards
- Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time) plus the option to buy more.
- Up to five extra paid well-being days per year .
- 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt.
- Market-leading pension.
- Free private medical cover, income protection and life assurance.
- Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness.
And there's no waiting around, you'll enjoy these benefits from day one.
If we’re lucky to receive a lot of interest, we may close the advert early. Please ensure to submit your applications as soon as possible.
Say hello to Virgin Money
Virgin Money is so much more than just a bank. As part of the Nationwide group, together we're the UK's first full-service mutual bank serving millions of retail and business customers and all driven by our purpose; Banking but fairer, more rewarding and for the good of society. With us, you’ll be part of an organisation uniquely positioned to make a difference to the lives of customers, communities and broader society and embark on a collaborative, customer obsessed, and fun-filled career journey. Embrace the weekdays, enjoy fantastic perks, and make a meaningful positive difference. Time to discover what it means to be part of the first mutual full-service banking provider.
Be yourself at Virgin Money
At Virgin Money, we celebrate everyone. We have fun, think big, and relentlessly include each other, all in pursuit of our purpose: Banking – but fairer, more rewarding, and for the good of society. We’re committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.
As a Disability Confident Leader, we're committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team
Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.
Now the legal bit
Although some of our roles allow you to be based anywhere in the UK, we'll need you to confirm you have the right to work in the UK.
If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks – we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.
Fraud Change and Regulatory Engagement Manager in Scotland employer: Virgin Money
At Virgin Money, we pride ourselves on being more than just a bank; we are a community-focused organisation that values inclusivity and employee well-being. With generous benefits such as 38.5 days of annual leave, flexible working options, and a commitment to personal growth, our remote roles empower you to thrive while making a meaningful impact in the fight against fraud. Join us in a collaborative and fun-filled environment where your expertise will help shape the future of banking for the good of society.
StudySmarter Expert Advice🤫
We think this is how you could land Fraud Change and Regulatory Engagement Manager in Scotland
✨Tip Number 1
Familiarise yourself with the latest fraud legislation and regulatory requirements relevant to the banking sector. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in a rapidly changing environment.
✨Tip Number 2
Network with professionals in the fraud prevention and regulatory engagement space. Attend industry events or webinars where you can connect with key stakeholders, including those from the FCA or PSR, to gain insights and potentially get referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed fraud risk assessments in previous roles. Highlight your experience in influencing senior stakeholders and how your contributions led to positive outcomes for your organisation.
✨Tip Number 4
Research Virgin Money's current initiatives and challenges in fraud prevention. Tailor your discussions during interviews to show how your expertise aligns with their goals, particularly in enhancing their fraud capabilities and regulatory compliance.
We think you need these skills to ace Fraud Change and Regulatory Engagement Manager in Scotland
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights your experience in fraud risk assessment and regulatory compliance. Use specific examples that demonstrate your expertise in the retail banking sector and your ability to influence senior stakeholders.
Craft a Compelling Cover Letter:In your cover letter, express your passion for combating fraud and your understanding of relevant legislation. Mention how your skills align with the responsibilities outlined in the job description, particularly your experience with regulatory engagement and governance.
Highlight Relevant Achievements:When detailing your work history, focus on achievements that showcase your ability to lead change initiatives and engage with regulatory bodies. Quantify your successes where possible, such as improvements in fraud detection rates or successful compliance projects.
Proofread and Edit:Before submitting your application, carefully proofread your documents for any spelling or grammatical errors. Ensure that your writing is clear and professional, reflecting the attention to detail that is crucial for this role.
How to prepare for a job interview at Virgin Money
✨Know Your Regulatory Landscape
Familiarise yourself with the key regulatory bodies such as the FCA and PSR. Understand their current priorities and how they impact fraud management. This knowledge will help you demonstrate your expertise and readiness to engage effectively.
✨Showcase Your Fraud Expertise
Prepare to discuss your experience in assessing fraud risk within a retail banking environment. Be ready to provide specific examples of how you've implemented fraud legislation and influenced senior stakeholders in previous roles.
✨Demonstrate Governance Experience
Highlight your track record of operating governance and reporting at a board sub-committee level. Be prepared to discuss how you've contributed to effective change and regulatory engagement governance models in past positions.
✨Engage with Industry Insights
Research recent trends and challenges in fraud prevention and financial crime. Be ready to share insights on benchmarking fraud capabilities and how you can contribute to creating leading-edge solutions that keep pace with the evolving marketplace.
