Lead - Transaction Monitoring - Bank (5-12 yrs)

Lead - Transaction Monitoring

Our client is a top Indian Bank and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management.

Location: Goregaon, Mumbai.

Designation: Lead- Fraud Monitoring (Senior Manager / Chief Manager / AVP)

Role purpose:

- Managing transaction monitoring Team.

- Rule analysis to detect fraudulent transactions through FRM system FRM.

- To assist and establish/maintain proactive fraud prevention mechanisms and fraud detection/investigation process in the business.

- To assist and establish Fraud Plan along with Fraud team.

- To closely work with the Management, compliance and field team to strengthen the front-end verification and other processes.

Job Role:

- Managing a team of Transaction Monitoring Analysts and day to day functioning.

- Active monitoring of team activity by timely review of case management alert investigation, completion and alert disposition.

- Quality of alert closures to be examined through sampling.

- Critically assess the rules to monitor alerts within the automated monitoring platforms to ensure their ability to capture the risks modelled.

- Rule analysis to detect fraudulent transactions through various FRM systems to establish/maintain proactive fraud prevention mechanisms and fraud detection/investigation process in the business.

- Undertake analysis on monitoring data to establish or recommend changes or alteration in defined rules.

- To closely work with the Management, compliance and field team to strengthen the processes.

- Conduct process and product reviews take active role in fraud assessments of new products, significant changes on the existing processes where fraud risk exposure might be concerned.

- Creating and presenting the case reports to identify challenges and constrains in the system with the remedies to overcome the same.

- Coordinate internal processes for the revision, review of policies to the business unit as well as internal departmental procedures to support function.

- To assess, support and recommend solutions in modified or new Fraud Risk technology/tools available on the market.

- Ensure fraud performance is within established benchmarks and industry level/regional level losses.

- Lead in-house development of external and internal fraud detection and mitigation solutions, alert and case management work flow.

- Preparing RCSA and Participating in internal and external audit preparation and remediation.

- Work with Technology and IT team to automate manual activities to improve efficiency.

Skills Requirement:

- Graduate degree in related field, or minimum 5 years of progressive experience in fraud prevention.

- Strong interpersonal and communication skills, oral and written , as well as ability to successfully interact and influence all levels of management and staff.

- Creative, flexible, decisive, and adaptable to a dynamically changing business/production environment.

- Ability to support daily activities for several large, multi-function operations or high-risk areas in operations in a 24x7 environment.

- Demonstrate effective strategic planning and process thorough analytical, planning, and problem solving skills.

- Deep advanced knowledge and experience of card & Digital processing and fraud monitoring with successful results while balancing optimized mitigation of card fraud, revenue enhancement and client experience.

- Thorough analytical, planning and problem solving skills.

- Knowledge of MS-Office, preference for excel.