AddressAssociate Manager-FCU
The role is expected to focus on the fraud charter for the lending business while being part of the Group Fraud Control Unit. The responsibilities identified below are to be read in conjunction with this understanding:
- Understanding and driving prevention of loss from various fraud modes (Transaction Fraud, Application,Account Takeover, Transaction Fraud, 1st and 3rd Party Fraud, Bust Out Fraud).
- Liaise with Analytics teams to help build out data models needed for fraud analytics.
- Conducting independent analytics of portfolio behavior to identify fraud trends / patterns
- Building appropriate alerting / reporting for emerging fraud attacks.
- Design and maintain fraud risk dashboards, identify high-risk areas & parameters, and resolve the same with relevant teams.
- Monitoring :
- Work towards automation of fraud identification and closure processes.
- Obtaining and monitoring reports from Audit, Collections, Customer Service, Finance, Credit, Risk,and Customer Complaints to identify red flags/ early warning signals of fraud
- Conduct periodic reviews of key processes and systems to identify gaps in terms of fraud and operational risk, and suggest controls to address the same
- Review of samples of cases to check for suspected frauds
- Working with the Investigations team to study customer frauds, including Root Cause Analysis and suggest measures to strengthen existing processes and systems
- Work with Product & Tech teams to build & deploy fraud rules in production; and also to review adequacy of controls to mitigate frauds at the design stage
- Ensure closure of action points emanating from various investigations and present the summary of new controls and process improvements to the management.
- Ensure fraud policies, processes and systems are aligned with changing RBI regulatory requirements.
- Reporting :
- Coordinating with various units such as Collections, Operations, Business, Legal, Finance, to collect information and prepare regulatory reports (FMR-1 FMR2 FMR-3 quarterly and annual review, etc)
- Coordination with Compliance / Regulators (as applicable) for all regulatory/statutory reports/data submission in a timely manner with accuracy
- Providing required MIS and management reports to the Senior Management, Board Committees and the Board of Directors.
- Share emerging trends on fraud, based on market intel
Requirements:
- Experience in digital Financial Services is preferred, with hands-on collaboration with Tech & Product teams
- Sound understanding of retail loans, and fraud trends and controls to prevent such lending frauds
- Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.
