Lead - Fraud Risk - BFS

Job Scope - to act as the fraud controller for the entire organization and suggest pro-active measures to prevent customer, employee, distributor, vendor and other frauds, through various reviews including branch visits, investigation of cases and ensuring disciplinary action as per governance grid of the organization

Main Responsibility:

1. Deep analysis of all frauds by publishing analytics, bringing out root cause of frauds and facilitating correction in process to mitigate the fraud risks in the organization

2. Ensuring timely investigation into various allegation and guiding the investigators to establish the frauds

3. Constant review of susceptible and vulnerable areas across various functions within organization which are prone to fraud risks, including sales process, branch process including finance areas (travel bills. Reimbursement, claim), HR process etc measuring effectiveness of controls and effective recommendations to increase effectiveness of fraud risk control within the organization

4. Ensure the senior management escalations are fast tracked and closed in a conclusive and timely manner

5. Maintain a very close co-ordination with customer services, collections and other referring units for quick resolution of cases within defined TAT

6. Maintain and manage third party for fast closure of cases within define SLAs and monitor the performance of vendors for timely payment

7. Monitoring market conduct of sales intermediaries by carrying out regular reviews of the channels and support the management with the areas of improvements in them

8. Supporting conduct of proceedings by the Governance Committee and facilitating process of implementing governance actions through HR function. Ensure there is adequate collection of documentary evidences for initiating actions

9. Advising disciplinary actions against employees, agents involved in sales malpractices including interrogation, confronting based on evidences available and establishing truth. Presenting cases before the Governance Committee and enabling right decision making, interaction with Enforcement authorities including Police to pursue FIRs filed by the company

10. Conduct awareness programs in the organization through training, workshops and other proactive initiatives for continuous education on right risk practice