Fraud Risk & Compliance (RCU)

1. Fraud Investigation & Monitoring:

- Lead and manage fraud investigations across banking products and channels (UPI, ATM, IMPS, POS, Ecom, etc.).

- Coordinate with the RCU (Risk Containment Unit) for preventive/reactive measures to fraud incidents.

- Monitor fraud transactions using platforms like NPCI-EFRM, IBA TPA, OFSAA, and Flexcube.

- Handle customer fraud complaints and manage chargeback processes.

2. Regulatory Reporting:

- Prepare and submit reports such as FMR-1, FMR-4, Annex-1, and CFR to the Reserve Bank of India (RBI).

- Handle regulatory correspondence related to fraud reporting, insurance claims, and legal follow-ups with stakeholders.

- Manage communication with the RBI for fraud certificate submissions, SFIO reporting, and ACB/SCB updates.

3. Compliance & Risk Control:

- Ensure adherence to AML regulations by identifying and reporting suspicious transactions.

- Utilize systems like Mantas, OFSAA, Accuity, and World Check for transaction monitoring and due diligence.

- Coordinate with internal audit teams to ensure compliance with fraud prevention measures.

4. Data Analysis & Reporting:

- Perform root-cause analysis and trend evaluations to identify areas of improvement in fraud prevention.

- Maintain accurate data records, MIS reports, and fraud-related documentation.

5. Team Management:

- Supervise and lead fraud risk teams, providing guidance and ensuring adherence to compliance standards.

- Conduct training sessions on fraud detection, AML regulations, and investigative procedures for team members.

Skills & Qualifications:

• Education: MBA (Finance) or relevant Master's Degree; Professional certification in AML, Risk, or Compliance (e.g., ICA, ACAMS).
• Certifications: OFAC training, Suspicious Activity Reporting (SAR) training, or relevant certifications.
• Technical Expertise: Familiarity with fraud detection systems like Flexcube, CFR, XBRL, EFRM, and tools such as MS Office, Google suite, and Outlook.
• Soft Skills: Excellent communication, stakeholder management, and leadership abilities.

Desirable Experience:

• Previous experience in handling fraud risk and regulatory reporting in financial institutions.
• Knowledge of global regulatory practices and hands-on experience with AML compliance for multiple regions (e.g., UK, UAE, Hong Kong).
• Proven ability to manage regulatory audits and internal investigations related to fraud cases.