Key Responsibilities:

• Supervision and management of Fraud Risk assessment
• Supervision of Fraud investigation and Vigilance
• Second level analysis of Fraud Monitoring System reports and Ethics Helpline reports
• Supervision of Fraud reporting – internal and external

Responsibilities:

Supervision and management of Fraud Risk assessment

• Disseminate and interpret Bank's anti-fraud policy and ensure compliance with the same.
• Identification of potential fraud and misconduct risks within the Bank
• Carry out periodic fraud risk assessments on processes and new products in order to identify and mitigate fraud risks
• Collaborate with Internal Audit function and identify existing fraud risks
• Identify new legislation and regulatory requirements and review existing policies and procedures to ascertain whether they are consistent with laws and regulations
• Ongoing research to identify new banking fraud typologies as they evolve
• Update the anti-fraud controls and procedures utilized within the Bank to align with new developments in fraud typologies
• Conduct periodic evaluation of effectiveness of controls to mitigate the risk of fraud and misconduct

Supervision of Fraud investigation and Vigilance

• Supervise on-going investigations and regularly review the activities undertaken by the investigators to ensure adherence to the Bank policies and protocols.
• Receive and review investigation reports in order to ensure implementation of recommended remediation protocols
• Provide inputs in terms of fraud-risk prone areas and scenarios to investigation officer
• Co-ordinate with AML unit to identify patterns of transactions of potentially both money laundering and fraud

Second level analysis of Fraud Monitoring System reports and Ethics Helpline reports

• Review exception reports developed by executive and take appropriate action such as passing the positive results to the investigation officer to initiate an investigation and studying false positive results for possible review of thresholds
• Regularly review Fraud Monitoring System and update the thresholds
• Regularly review Ethics helpline logs to identify probable fraud incidents not detected by the executive
• Randomly review closed calls from Ethics helpline call logs to identify patterns of possible fraud incident reporting

Supervision of Fraud reporting – internal and external

• Review reports of fraud incidents taken place and outstanding fraud reports including NIL report prepared by L1 executive before submitting to regulators (as per the reporting matrix provided by RBI)
• Submit quarterly / annual progress reports on the outstanding frauds to regulators (as per the reporting matrix provided by RBI)
• Review progress reports on the fraud investigations before presenting to the Fraud Control committee
• Review of reports of attempted fraud cases to the Fraud Control committee
• Review and analyze comprehensive MIS reports on regular basis and send to Fraud Control Committee.

Skills:

• Understanding of financial products and processes
• Fraud risk management and system analysis
• Fraud investigation
• Understanding of anti-fraud and corruption related laws, rules and regulations as applicable in India
• Strong interpersonal and verbal communication skills
• Ability to lead and guide a team of professionals
• Ability to effectively handle a fast paced environment and successfully meet established deadline requirements
• Presentation skills

Qualifications:

• Bachelor’s degree in Banking and Finance from a renowned university
• Post-graduation/ Master’s degree in Business Administration with specialization in Banking and Finance from a renowned management institute /university

OR

• Chartered Accountant
• Certified Fraud Examiner (CFE) (Preferable)