Company Overview:

Our client is a leading private sector bank in India, offering a wide range of financial products and services to individuals, businesses, and institutions. With a pan-India presence and a significant digital footprint, the bank serves millions of customers through its extensive network of branches, ATMs, and online platforms. It is recognized for its strong financial performance, innovative banking solutions, and commitment to customer service.

Role Overview:

The Director - Fraud Risk will be responsible for leading and managing the bank's fraud risk management framework, ensuring the effective identification, assessment, mitigation, and monitoring of fraud risks across all business lines and channels. This role involves collaborating with various stakeholders, including business units, technology teams, compliance, and internal audit, to develop and implement robust fraud prevention strategies and controls. The Director will play a critical role in safeguarding the bank's assets, protecting customers from financial crime, and maintaining the bank's reputation.

Key Responsibilities:

- Develop and implement a comprehensive fraud risk management framework, aligned with regulatory requirements and industry best practices, to protect the bank from financial losses and reputational damage.

- Conduct thorough fraud risk assessments across all business lines and channels to identify potential vulnerabilities and emerging threats.

- Design and implement effective fraud prevention and detection controls, including transaction monitoring systems, data analytics, and fraud awareness training programs, to minimize fraud losses.

- Lead investigations of suspected fraud incidents, working closely with internal and external stakeholders, to gather evidence, assess the impact, and recommend appropriate corrective actions.

- Monitor fraud trends and patterns, analyze data, and prepare reports for senior management and the board of directors, providing insights and recommendations to improve fraud risk management effectiveness.

- Collaborate with technology teams to enhance fraud detection capabilities through the implementation of advanced analytics, machine learning, and artificial intelligence solutions.

- Ensure compliance with all applicable laws, regulations, and internal policies related to fraud risk management, AML, and KYC.

- Provide guidance and support to business units on fraud risk management matters, promoting a culture of fraud awareness and prevention throughout the organization.

- Manage and develop a team of fraud risk professionals, providing coaching, mentoring, and training to enhance their skills and knowledge.

Required Skillset:

- Demonstrated expertise in fraud risk management, including fraud prevention, detection, investigation, and reporting.

- Proven ability to develop and implement fraud risk management frameworks, policies, and procedures.

- Strong understanding of banking operations, financial products, and regulatory requirements related to fraud, AML, and KYC.

- Excellent analytical and problem-solving skills, with the ability to analyze data, identify trends, and develop effective solutions.

- Exceptional communication and interpersonal skills, with the ability to effectively communicate with stakeholders at all levels of the organization.

- Ability to lead and manage a team of fraud risk professionals, providing coaching, mentoring, and training.

- Experience in using data analytics and technology solutions to enhance fraud detection capabilities.

- Strong understanding of financial analysis and risk management principles.

- Bachelor's degree in finance, accounting, or a related field; advanced degree or relevant certifications (e.g., CFE, CAMS) preferred.

- Minimum of 15-20 years of experience in fraud risk management, AML, or compliance within the financial services industry.