Hiranandani Financial Services - State Manager - Risk Control Unit (5-6 yrs)

- We are seeking a State Manager for the Risk Control Unit (RCU) to oversee fraud prevention and control strategies within the assigned region.

- The ideal candidate will be responsible for managing third-party agencies, ensuring the effectiveness of verification processes, and ensuring compliance with internal fraud control guidelines.

- This role requires a proactive individual with strong management skills and the ability to implement effective fraud detection measures across operations.

Key Responsibilities:

RCU Process Implementation:

- Ensure the effective implementation of RCU processes and fraud prevention strategies within the designated region.

Third-Party Agency Management:

- Identify, recommend, and empanel third-party agencies specializing in fraud detection and investigation.

- Manage relationships with third-party vendors and ensure timely reporting within the set Turnaround Time (TAT).

Loan Document Verification:

- Monitor the verification of loan documents (both pre and post disbursement) by third-party agencies to ensure compliance with fraud prevention standards.

- Oversee sample verification processes to maintain accuracy and compliance with organizational policies.

Cost Management:

- Track and manage third-party vendor costs on a monthly basis to ensure cost efficiency and adherence to budgetary constraints.

Collaboration for Fraud Action:

- Work closely with internal teams and regulatory bodies to take necessary actions against fraudulent activities, ensuring proper case resolution.

- Conduct field visits when necessary to assist in ongoing fraud investigations.

Fraud Risk Training:

- Provide fraud risk training to team members, equipping them with the skills and knowledge to detect and manage fraud risks effectively.

Mystery Shopping & Seeding:

- Oversee and execute mystery shopping and seeding activities as per internal fraud control guidelines to identify and address potential fraud risks.

Qualifications and Skills:

Education:

- Bachelor's/Master's degree in Business, Risk Management, Finance, or a related field.

- Certification in fraud prevention or risk management is a plus.

Experience:

- 5+ years of experience in fraud management, risk control, or related fields, preferably within financial services, lending, or insurance sectors.

- Proven experience in managing third-party vendors, implementing fraud control processes, and monitoring verification procedures.

Skills:

- Strong knowledge of fraud detection methodologies and risk management practices.

- Excellent organizational and communication skills to manage multiple stakeholders and vendors effectively.

- Ability to assess vendor performance and ensure cost-effective fraud detection strategies.

- Strong leadership and training skills to ensure the team is well-equipped to handle fraud-related issues.

Technical Proficiency:

- Familiarity with fraud detection systems and tools.

- Ability to work with internal teams and external agencies to take corrective actions based on findings.