Chief Manager - Fraud Risk - Life Insurance Firm

Our client is a well-established Life Insurance company and is a joint venture between India's leading Financial Services Company along with the World's one of the most diversified and oldest Multinational Financial services organizations.

Job Purpose

- The role would be directly responsible for early detection of fraud/adverse selection and also preparing product risk guideline to manage frauds

Key Responsibilities

Responsibilities - To be directly responsible for early detection of suspicious cases at new business login and post issuance cases

- To provide inside and learning to analytics team for early detection of frauds

- To be responsible for assurance on portfolio quality through review of distributor, adverse regions/branches, partners and products.

- To create risk guidelines for channels/products/partners/geographies

- To assess and mitigate pre & post issuance risk, process compliance, sales governance, analytics and strategy formulation for the sales teams

Specific Authorities( Financial & Non Financial) To be authorized, to give sign off for new distributor onboarding

Key Performance Indicators - A/E

- To increase fraud hit ratio by 10% via identifying adverse policies for conducting IPV

Job Requirements

Qualifications Graduate Engineer/MBA/CA

- Experience 7-8 years of experience (Insurance domain)

- Base skills Understanding of organisational systems, process and products

- Functional Competencies Risk Prevention & Detection

- Understanding of fraud risk in Insurance domain

- Risk Management

- Understanding of U/W risks and guidelines for product risk assessment

- Analytical skills

- Behavioral Competencies Business Acumen