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:
o Lead and manage the Financial Crime team, overseeing two sub-teams: Strategy and Servicing.
o 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.
o Responsible for fraud and financial crime strategy and customer journey optimisation.
o Ensure that the financial crime policies and procedures are continuously updated in line with the latest regulatory requirements and industry best practices.
o 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:
o Ensure robust Anti-Money Laundering (AML) and fraud prevention measures are embedded across all pre- and post-contract customer journeys.
o 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.
o Oversee the investigation, action, and resolution of fraud indicators, either proactively through transaction monitoring, or reactively through customer communications/alerts.
3. Regulatory Compliance:
o 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.
o Maintain a comprehensive understanding of applicable laws and regulatory expectations for financial crime and fraud in the credit services industry.
o Assist in the development of training for FGFS staff on financial crime/fraud compliance and prevention.
o Stay ahead of emerging trends and threats in financial crime, particularly in respect of digital payments and card services.
4. Collaboration and Reporting:
o 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.
o 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:
o Manage and support the Financial Crime team, ensuring they have the necessary skills and resources to perform their duties effectively.
o Provide mentoring and career development opportunities for team members, including cross-training between the Strategy and Servicing sub-teams.
Qualifications
o Proven experience in a senior financial crime or fraud prevention role, ideally at a credit card provider and/or payment services firm.
o Deep knowledge of AML frameworks, financial crime prevention practices, fraud detection, and the management of payment fraud (APP fraud, card fraud).
o Extensive understanding of the Money Laundering Regulations (MLRs) and Joint Money Laundering Steering Group (JMLSG) guidelines.
o Demonstrable experience leading teams in a financial crime capacity and implementing financial crime strategies.
o Prior experience working with regulated payment services and understanding of the Payment Services Regulations (PSRs) 2017.
o Strong leadership and management skills with the ability to guide and motivate a diverse team.
o Excellent communication skills, capable of engaging effectively with both internal and external stakeholders.
o Analytical mindset, with the ability to assess complex financial crime risks and identify effective solutions.
o 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.
Along with your benefits package we also offer a wide range of perks for our colleagues:
Reward, Recognition and Opportunities
Frasers Champion- Our employees are at the heart of our business and we ensure individuals are recognised every single month for their hard work. Frasers Champion is a peer nominated scheme where 8 winners will receive double their pay for a month where they have thought without limits, owned it or been relevant.
Fearless 1000 – By October 2025, we want our share price to hit £10. If that happens for 30 or more consecutive trading days, all colleagues across the business will receive a bonus! The top 1000 performers in the company will receive unprecedented bonuses, worth from £50,000 to £1million! Senior leaders across the business nominate these performers twice a year for embodying our core values and delivering exceptional performance*.
*subject to terms and conditions
Frasers Festival – an event like no other! Our Frasers Festival is our celebration for Head Office and Retail Staff across the UK and Europe – hosting a MEGA brand village, guest speakers from the world's biggest brands, evening entertainment, the ultimate Frasers Fearless Fitness Challenge and much more.
CEO Sessions – Once a quarter we offer 20 employees the opportunity to attend our “CEO Sessions” ran by our CEO and leadership team. Employees have the chance to connect, network and submit questions around specific topics such as our Sports or Luxury business.
Retail Reconnect – In order to build the planets most admired and compelling brand ecosystem, all employees must understand our business, product and customers. Each financial year, Head Office employees will gain insights by spending two days in one of our stores or the Warehouse. The goal is to learn how the work you do impacts our teams on the frontline, and to bring ideas back to the office which will improve how we work.
Employee Welfare
Frasers Fit – Our Everlast Gyms Team are on a mission to make our workforce the best, and fittest on the planet! We run free gym classes for employees as well as discounted memberships to our clubs. Frasers Fit is our wellbeing programme which aims to support and improve colleagues Physical, Financial & Mental wellbeing. The app is accessible for every employee and includes training, nutrition and lifestyle advice- all completely free.
Retail Trust – We know that its not just about physical health, mental wellness is equally important which is why all of our employees get free access and support from the Retail Trust charity. This includes a 24 hour wellbeing helpline, wellness hub, counselling and financial/legal support.
What’s next?
Our Recruitment Team will be reviewing applications and all candidates will receive a response, whether you are successful or unsuccessful. Shortlisted applicants may be asked to confirm a few key details before being booked in for a first stage interview with the Recruiter- this will be behaviourally focussed and centred around how you align with our Culture and Values. If successful we anticipate two further interview stages with the Hiring Manager/wider team which will be more technically focussed and could include a presentation/task so we can see your skills in action.