Xiaomi - Fraud Control Role (7-15 yrs)
This role will allow the successful candidate to work with primarily unsecured product portfolios across multiple business lines & services (pan India). These will include various lending products for individuals (both salaried & self-employed) as well as small/medium enterprises. Some of these products would be, Unsecured PL (small, medium & large ticket), Line of Credit, BNPL & Business loans.
- Build Fraud infrastructure & strategy from scratch
- Manage Fraud Control practices by understanding the known & emerging fraud patterns and build a fraud management systems based on viable triggers.
- Develop Fraud strategies based on information available from both traditional & non-traditional data/Information sources
- Defining specific thresholds/cut-offs for the respective Fraud triggers and define various segment level treatments basis severity (straight reject, additional documents, manual verification, etc.) ensuring high fraud capture% and minimum possible false positives for straight reject pool.
- Closely work with the Data Science team and build a robust framework for Fraud detection, investigation, monitoring & reporting
- initially screen applications manually for fraud triggers and gradually evolve to scientific rule-based triggers with the help of the data analytics team
- Conducting end to end documents & profile investigations
- Identify early default cases for scrutiny to ascertain reasons
- Continuous feedback to Risk and analytics team for changes in the credit policy basis emerging fraud trends post identifying new triggers
- Continue to evaluate third-party solutions to build custom triggers while ensuring a seamless digital onboarding for customers with good intent.
- 7+ years of total experience in banking & financial services
- 4+ years of working knowledge of Fraud management for unsecured loan products in the Indian market and must possess sound market and industry knowledge(primarily across Fintechs)
- Understanding of the key fraud triggers for digital unsecured lending
- Exceptional planning, organizational, and communication skills: require the ability to handle several complex tasks simultaneously and also coordinate key projects/initiatives with a variety of stakeholders is essential along with the ability to understand broad business issues
- Must possess the ability to make deductions and meaning from rather complex and abstract situations and make sound decisions from them
- Negotiation and interpersonal skills: It is essential that they can negotiate and influence people towards achieving a predetermined goal.
- Proficiency with Microsoft Office (Excel, Word, PowerPoint) applications; working knowledge of SQL is a plus
- Education: A minimum Bachelor's degree in finance, business, economics, or BTECH/BE, or other quantitative fields is required. However, MBA (Finance) or a Master's degree in Economics, Mathematics, Statistics, or another quantitative related field may be preferred