AVP/Associate Director - Fraud Transaction Monitoring - Bank

AVP/Associate Director - Fraud Transaction Monitoring - Bank

Job Title: Vertical Head - Transaction Monitoring

Grade - AVP/Associate Director

Oragnisation - Leading Bank

Job Description:

- Driving & implementing strong fraud detection across the ecosystem by way of implementing and running fraud transaction monitoring systems for all channels. Operationalize the transaction monitoring process & setting up strategies to arrest changing fraud scenarios.

- Developing & streamlining Fraud Detection strategies with proven ability to enhance operational effectiveness, and run the transaction monitoring process and team with highest levels of efficacy and productivity and create a sustainable performing and competitive work environment for team for maximizing results and hit ratios.

- Successfully deliver detection numbers as per benchmarks and mitigate fraud trends by way of strong policy and processes around rule engine. Identify underlying fraud trends in the payments business and across channels and to have proactive solutions in addressing those trends

- Proactively liaise with internal and external stakeholders and to have continuity plans in place for seamless monitoring process and have detection mechanism ready to handle expected business projections. Have process in place for addressing any exigencies or breaches etc. with incident response plan for quick redressal.

- Networking with Card Associations (Visa/MasterCard/NPCI etc.) and member banks (Issuers/Acquirers) to understand current and upcoming fraud trends and approach towards it, best practices, negative market information etc.

- Fine tuning of triggers/rules based on fraud patterns & supporting customization and publishing periodic advisories on emerging trends & mitigation measures. Setting up strategies to build database of fraudulent mobile numbers, negative devices, negative IP- s, High risk countries, testing merchants, misuse merchants, compromise points (skimming) and so on for fraud mitigation, wherever transaction monitoring contributes.

- Brainstorming & deliberation on risk related aspects with the Product teams, and to also comply with audit requirements of RBI, Internal Processes, SOP and Internal Audit as may be required. Have a strong quality control process around monitoring activities and ensure timely review of call recordings, and updates carried out by analysts in monitoring systems.

- Ensure periodic, monthly MIS on monitoring is prepared and share with stakeholders/management on a timely basis along with highlighting and proposing solutions on emerging fraud trends. Ensure all MIS in place for publishing, tracking pendency and for depicting any eventual underlying trends.

- Have a robust process on resources identification, hiring and training the hires for effective monitoring. Have a training calendar and score cards for the team to evaluate performances and need/event based training for the team.

- Update stakeholders and management immediately on system issues, or other IT issues faced during monitoring, any cases of probable escalation etc. and keep relevant stakeholders informed for taking the issues to logical closure.

- Performance oriented, forward looking and a team player, focused working on improvement areas thereby improving abilities and skillsets required for performing the job. Ensure required integrity and display of work ethics at all times.