Head Fraud Strategy

Overview

Reporting to the Head of Operational Strategy, the Head of Fraud strategy will lead on the delivery and oversight of the Fraud strategy and analytics functions across Vanquis Bank including cards, and vehicle finance. This is a pivotal role within the Bank, ensuring appropriate strategic direction, fraud management, real time analysis and insight.

Supporting the prevention of external and internal application, transactional and payment fraud, this role will interact with senior stakeholders and peers across the Bank. The role holder will represent Vanquis externally at industry events and forums as well as liaising regularly and directly with external 3rd Parties.

• Development and delivery of fraud strategic objectives and initiatives within the Bank
• Maintain the protection of customers & the Bank against fraud & unauthorised financial loss
• Ensure compliance with relevant law, Regulation & policy
• Collaborate with peers and senior leaders to align the Fraud Strategy to the overall bank strategy
• Drive the design, planning, and execution of the fraud strategies to enhance fraud prevention capabilities, ensuring alignment with evolving regulatory expectations, use of new technology, bank-wide programmes and leading industry practice.
• Own and manage the fraud budget, ensuring optimal allocation of resources to achieve strategic objectives.
• Monitor and report on fraud-related financial performance, including actual losses versus forecast, and provide variance analysis with actionable insights.
• Ensure processes accurately align with the Banks risk appetitive, to effectively safeguard against fraud losses, support business growth and drive good customer outcomes.
• Analyse, manage, report, and escalate fraud strategies, trends & risks via appropriate governance forums.
• Ensure all regulatory and compliance requirements are understood and met and risks and issues are prioritised appropriately within the three lines of defence model.
• Provide recommendations and support the implementation of new policy rules and procedures to enhance fraud detection, mitigation, and recovery efforts.
• Contribute, where appropriate to the ongoing development of the organisation’s Financial Crime Strategy.
• Meet defined individual and team performance and quality targets to ensure delivery of key business objectives.
• Adherence to key internal and external policies, standards and regulation that may apply and execute remediation plans for any gaps of weaknesses that may exist.
• Support operational delivery of the financial crime strategy, held under the remit of the MLRO.
• Responsible for raising Fraud concerns / attacks to the wider business including any major stakeholders. Interaction with 1st and 2nd line Fraud Strategy and Financial Crime.
• Empower a culture of engagement and accountability within the team and effective collaboration within cross functional team.

• Senior management or leadership roles within Fraud Operations or Strategy
• Experience in setting fraud strategy aligned with business objectives and risk appetite
• Banking or consumer credit knowledge
• Knowledge of FFC risk, regulation, international and national standards
• Proven experience making risk-based decisions and determining the appropriate actions/solutions.
• Experience in all aspects of team management including recruitment, objective setting, performance management, conflict resolution and personal development
• Deep understanding of fraud budgeting and losses.
• Expertise in emerging fraud typologies (APP fraud, synthetic , mule networks, cyber-enabled fraud).
• Understanding of UK regulatory frameworks (FCA, PRA, PSR) and industry standards (e.g., UK Finance, CIFAS).
• Strong knowledge of fraud analytics, predictive modelling, and machine learning applications.
• Familiarity with fraud detection platforms, transaction monitoring systems, and data visualisation tools.
• Ability to influence senior stakeholders and drive cross-functional initiatives.
• Ability to benchmark against industry best practices and incorporate insights into the bank’s fraud strategy.
• Active participation in industry forums and working groups to influence policy and share…