Manager - Fraud Monitoring (7-9 yrs)

Position Title: Manager Fraud Monitoring.

Experience7 + Years.

Sub-vertical: Fraud Monitoring.

Reporting To: AVP - Risk Management.

Key Responsibilities:

- Management of Fraud Reporting MIS: Oversee the preparation and management of various Management Information System (MIS) reports related to fraud.

- Root Cause Analysis: Analyze the causes of fraud incidents reported in the ORMS (Operational Risk Management System).

- In-depth Fraud Analysis: Conduct detailed analysis of fraud incidents to identify patterns and trends of increasing fraud cases.

- Identify Fraud Risks/Process Gaps: Investigate repetitive fraud occurrences and identify potential gaps in processes that may lead to increased fraud trends.

- PIPV of Active Policies: Perform PIPV (Policy Inception and Verification Process) of policies involved in fraud incidents.

- VEDC Analysis for A/E: Perform VEDC (Value, Exposure, Duration, and Complexity) analysis for the concerned policies and incidents related to A/E (Assessment/Examination).

- Monthly Fraud Incident Analysis: Analyze fraud incidents reported in the ORMS platform, comparing reported cases with proven cases.

- Develop Fraud Tools: Collaborate with the IT department to develop tools for efficient monthly fraud analysis.

- UAT (User Acceptance Testing): Conduct UAT for newly developed systems or tools related to fraud monitoring.

- Identify Cases for PIPV: Identify potential fraud cases for PIPV based on fraud incident reports.

Critical Competencies:

- Education & Experience: Graduate/Post Graduate with 3 to 5 years of relevant experience in fraud monitoring or related areas.

- Certifications: Professional certifications like Licentiate or similar qualifications in fraud management would be desirable.

Key Interactions:

Internal Stakeholders:

- Head of Risk Management and Fraud Monitoring.

- Risk Management team at Head Office, Regions, and CPC (Central Processing Center).

- CFIC (Central Fraud Investigation Cell).

- Regional Leadership.

- Information Technology team.

- Risk Officers.

Measures of Success:

- Timeliness: Ensure timely submission of various fraud-related MIS reports.

- Process Gap Identification: Proactively identify gaps in fraud processes and report them in the online Risk Register.

- Follow-up on Requirements: Timely follow-up with Risk Officers and users to ensure requirements are met.

- Fraud Analysis: Conduct thorough and timely analysis of fraud incidents and recommend process improvements.

- Industry Alerts: Analyze and act on industry alert cases in a timely manner.

- PIPV Follow-ups: Ensure the timely follow-up and closure of assigned PIPV tasks.

- Fraud Trend Analysis: Regularly perform and submit fraud trend analysis reports.

- VEDC Analysis: Submit timely presentations and reports on VEDC A/E.

Location: Corporate Office - Andheri, Mumbai.

Experience: 7-9 Years