Job Title

The role is responsible for fraud risk management & control, for all the liability, digital and payment products in the bank focusing on processes to mitigate fraud risks, implementation of internal controls, driving automation solutions and timely reporting to stakeholders. ResponsibilitiesStrategy and PlanningImplementation of strategies with an objective on fraud prevention, early detection, Investigation, Transaction Monitoring, Responding to LEA Notices, and Regulatory Reporting.Create clear road-map with foresight over industry trends on business & frauds.Ensure existing fraud prevention, and Transaction Monitoring systems tools are adequate to achieve prevention & early detection of frauds. Recommend new tools, if need be. Take ongoing necessary actions towards the samePeople – Ensure the team is operating with optimal capacity and are trained regularly to effectively perform their dutiesProcess – Ensure necessary reviews are conducted on the new & existing processes and implementation of necessary controls to prevent frauds with a balanced approach towards business. Completion of investigations within defined TAT.Regulatory – Ensure reporting of fraud cases, responding to LEA notices, within Regulatory defined TAT and manage regulatory interactionPolicies, Processes & ProceduresTo ensure fraud control, and Transaction monitoring policies in place that clearly defines the responsibility of the Unit.Responsible for having well-defined processes in place, conduct regular/ongoing review of the same and ensure necessary modifications/changes are made in line with the prevalent processesResponsible for ongoing review and refinement of department procedures and reportingTo ensure learnings out of frauds are fed back for necessary changes, corrections in Policies, Processes, wherever applicable.Establishing Fraud Risk Management Policy and framework, including Investigation, Transaction Monitoring, for Assets, liability, Corporate, BB and digital business unitsContinuously assess fraud detection tools, its effectiveness and process improvement in the fraud identification and mitigation processesAssess likelihood and potential significance of inherent & identified fraud risks based on historical information, known fraud schemes, and enforce necessary action, as appropriate.Ensure compliance with regulatory/departmental policies and procedures.Collaborate with other lines of business to ensure appropriate mitigation of fraud risksEstablishing Fraud Risk Management policy and framework for liability and digital business unitsRedevelopment and re-engineering of all fraud detection tools and process improvement in the fraud identification and mitigation processAdhering to all mandates laid out by the regulator along with internal and external stakeholder managementKeeping abreast of fraud preventive measures and process adopted by the peer banks and benchmarking other processes with the competition.Implementing Enterprise Fraud Risk Management system across the BankImplement Fraud scenarios basis fraud risk assessment to deploy surveillance environment ensuring effectiveness, efficiency and customer experiencePeople ManagementEducate, train, and develop team on effectively and efficiently identifying and reporting suspicious activityDevelops, trains, recommends & implements goals, policies and procedures for TeamAttract, retain, and develop a team of talented fraud professionalsRole Profile RequirementsMinimum 15+ years of Experience in Fraud Control function with specialization in BFSI domainAt least 5 years in senior or leadership positions, overseeing fraud strategy and teamsStrong leadership skills: build and mentor high-performing teams; foster cross-functional collaboration.Effective at senior stakeholder engagement, including with regulators, audit committees, legal, operations & technology teams