Leader - Fraud Charter Unit - Insurance

The role is expected to lead the fraud charter for the Group, covering businesses - lending, investments, insurance and payments. The responsibilities identified below are to be read in conjunction with this understanding:

- Understanding and driving prevention of loss from various fraud modes (Transaction Fraud, Application, Account Takeover, Transaction Fraud, 1st and 3rd Party Fraud, Bust Out Fraud).

- Liaise with Analytics teams to help build out data models needed for fraud analytics. - Conducting independent analytics of portfolio behavior to identify fraud trends / patterns - Building appropriate alerting / reporting for emerging fraud attacks. - Design and maintain fraud risk dashboards, identify high-risk areas & parameters, and resolve the same with relevant teams.

- Monitoring : - Work towards automation of fraud identification and closure processes. - Obtaining and monitoring reports from Audit, Collections, Customer Service, Finance, Credit, Risk, and Customer Complaints to identify red flags/ early warning signals of fraud - Conduct periodic reviews of key processes and systems to identify gaps in terms of fraud and operational risk, and suggest controls to address the same - Review of samples of cases to check for suspected frauds

- Conduct investigations of customer frauds, including Root Cause Analysis and suggest measures to strengthen existing processes and systems

- Work with Product & Tech teams to build & deploy fraud rules in production; and also to review adequacy of controls to mitigate frauds at the design stage

- Ensure closure of action points emanating from various Investigations and present the summary of new controls and process improvements to the management.

- Ensure fraud policies, processes and systems are aligned with changing regulatory requirements (from RBI, SEBI, IRDAI, NPCI).

- Reporting :

- Coordinating with various units such as Collections, Operations, Business, Legal, Finance, to collect information and prepare regulatory reports (FMR-1 FMR2 FMR-3 quarterly and annual review, etc)

- Coordination with Compliance / Regulators (as applicable) for all regulatory/statutory reports/data submission in a timely manner with accuracy - Providing required MIS and management reports to the Senior Management, Board Committees and the Board of Directors.

- Share emerging trends on fraud, based on market intel

- Be responsible for the strategic build-out of the fraud charter for the Group, including: - Identifying and setting roadmaps for fraud focus areas - Capacity planning and team build to help achieve the stated objectives of the charter.

Requirements:

- Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations. - Sound understanding of retail loans, health insurance, payments (at least strong in one of these) and the fraud trends and controls to prevent such frauds in these products.