Max Life Insurance - Manager - Fraud Management

No. Of Opening : 1

Grade : 4

Designation : Manager - Fraud Management

Experience : 5 Years To 7 Years

Location : Gurgaon

Job Summary:

- Driving Fraud Risk Management through prevention, detection and investigating with key focus on high severity fraud instances/vulnerabilities across Corporate and Distribution functions in order to apply corrective and preventive approach for process enhancements and minimizing financial and non-financial negative impact on Organization, Customer and Employees/Distributor.

- The objective of fraud identification is to be achieved through identification of possible key lead indicators, deploying fraud identification mechanism and procedures, performing data analytics, fraud risk assessment, risk mitigation via reports & advisories and driving preventive & corrective actions.

Key Responsibilities:

- Conducting Fraud Risk Assessment of critical processes

- Identification of potential fraud Risks across functions.

- Develop and implement Fraud Risk monitoring strategy for identified Risk for analysis.

- Identify and develop Fraud Risk triggers through techniques of data science, Red Flag analysis, BOTs mystery shopping, data seeding, etc.

- Disposition of Fraud indicators and recommending preventive controls.

- Providing Process control suggestions and fraud risk advisory

- Follow up and management agreed action & closures

- Participate in significant fraud investigations wherever required.

- Regulatory reporting on fraud

- Measurement of Success through Dashboards.

Measures of Success:

- Minimizing financial loss through fraud identification.

- Adherence of norms and company policies within the purview of Anti Fraud Policy

- Identification and closure of cases highlighted

- Accuracy in regulatory reporting

- Adequate and timely corrective action basis identified fraud

- Adequate and timely action on compliance and process gaps

- Accuracy and TAT of MIS on red flag related research and reports

- No surprises in Internal / External Audits.

Desired experience:

- More than 5 yrs of relevant industry experience in fraud prevention & control. Preferably qualified in Fraud Risk Management (e.g. CFE, CA, etc.)

- Statistical & Analytical skillS

- SQL, ACL, RDBMS, VB Script, Excel, Presentation, Dashboarding, Risk propensity models (more the skill-sets better it is)

- Project experience of handling high risk framework and effective execution of Risk Control Framework which is based on smart logic and technology driven.

Knowledge and skills required:

- Excellent communication and presentation skills

- High on collaborating and influential skills

- Strong Process/ controls orientation