The role holder will perform independent process reviews of RCU functions and internal/ fraud controls validations, inspect and guide on compliance matters related to internal SOP & Policy guidelines, etc. for Fraud Risk Management functions including RCU, Transaction Monitoring, Investigation, Reporting, etc.
The role holder is expected to perform review of all internal processes/ fraud prevention controls, identify gaps and non-adherence proactively, thereby strengthening the processes and ensuring tightening of controls around the same.
The role holder will thereby assist in ensuring Governance in the unit and assist in adherence to regulatory/ internal guidelines.
Primary Responsibilities:
Perform periodic process reviews and internal controls validations to check process adherence vis-à-vis internal and regulatory guidelines and assess effectiveness of existing processes and preventive controls for improvements.
Develop and maintain SOP for the FRM functions and verify compliances around the internal and regulatory guidelines on recurring basis.
Review product documents/ journeys and assess controls/ internal controls built in journeys to prevent frauds and misuse with sample testing of evidences.
Check efficiency and effectiveness of internal checks, rules built in processes of fraud detection & mitigation to strengthen existing processes leading to nil deficiencies and observations.
Assist in conducting Fraud Risk Assessment/ Vulnerability Assessment for Retail & Commercial Banking products to suggest fraud preventive controls
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Collaborate and guide Fraud Risk & Product teams in enabling effective fraud risk mitigation strategies around core products.
Follow up, track and publish findings to management and holistic approach on resolution & implementation of solutions.
Assist in preparing quarterly presentations for senior management as well as internal decks and training materials and work on adhoc/ additional requirements for effective governance function in the unit.
Build an effective culture of Governance in the Unit and be aware of latest regulatory guidelines and timely percolation/implementation.
Secondary Responsibilities :
Monthly Newsletter/ Regular MIS & Dashboards, Fraud Risk Register, Develop Training Materials, Data/MIS Management, Project Coordination with Stakeholders, Audit Management, Stakeholder Liaison for process management, Effective Communication and Presentation.
Required Skillset
Fraud Risk Process Governance / RCU Governance, Fraud Risk Management Policy / SOP / Framework Reviews, Audit of RCU / FRM function / Process Audit, Fraud Risk Assessment for Retail & Commercial Banking Products / Processes, Control Validation, Financial Crime
Key Success Metrics
100% Compliance to regulatory requirements, 100% Compliance to established Policy & SOP guidelines, Periodic Review of 100% processes and controls, proactive identification of gaps, areas of improvement.
Effective implementation of strategy & follow-up, nil breach of compliance to guidelines (internal/external), process adherence and quality assurance. Calendar of events and successful completion of assessments/Governance checks.
Qualifications: CA / MBA Finance / Graduate
Industries : Banking
Experience: 5-7 Years
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