AVP/DVP - Fraud Control Unit

Job Profile:-

Responsible for identifying, preventing, and investigating fraudulent activities within the organization. The specialist will work closely with various teams to ensure effective fraud risk management and implement strategies to minimize financial losses.

Key Responsibilities:

Fraud Detection & Prevention

- Managing Core RCU functions like sampling, reporting to peer group, Improvement & streamlining of processes, Team Training, Data management, Branch visits

- Monitor transactions and accounts for suspicious activities using fraud detection tools.

- Implement fraud prevention techniques and strategies to mitigate the risks of financial losses.

- Analyze data to identify trends and anomalies that indicate possible fraud.

- Trainings to vendor staff & In-house team like CPA, DST, Sampler, agency coordinator, field verifier

- Agency Management, TAT maintenance & improvement, Reporting quality measurements etc

- Seeding and Mystery Shopping activities on vendors and its staff, In-house team,

Investigation:

- Investigate potential fraudulent activities by reviewing relevant documentation, transaction details, and communications.

- Collaborate with internal teams (e.g., legal, compliance, operations) and external entities (law enforcement, customers, etc.) to gather necessary information.

- Conduct thorough investigations to identify and confirm fraudulent activities, ensuring all regulatory and legal obligations are met.

Reporting & Documentation:

- Prepare detailed reports of investigations and findings, including recommendations for corrective actions or further investigation.

- Maintain accurate records of all fraud-related incidents, including case management and reporting to senior management and regulatory bodies.

- Central data management for Management level presentations.

Risk Management:

- Assist in the development and implementation of fraud control frameworks and procedures.

- Evaluate the effectiveness of current fraud controls and recommend enhancements where necessary.

- Stay updated on industry best practices and emerging fraud trends to ensure that the organization is prepared for new threats.

Key Qualifications:

- Bachelor's degree in finance, criminal justice, risk management, or a related field.

- 12+ of experience in fraud detection, investigation, or a similar role within the financial services sector.

- Familiarity with fraud detection software, transaction monitoring systems, and data analysis tools.

- Strong analytical and problem-solving skills, with the ability to interpret large data sets.

- Excellent written and verbal communication skills.

- Ability to work independently and as part of a team in a fast-paced environment.

- Knowledge of relevant legal and regulatory frameworks related to fraud (AML, KYC, etc.).

Preferred Skills:

- Certifications such as Certified Fraud Examiner (CFE) or Certified Anti-Money Laundering Specialist (CAMS).

- Experience working with law enforcement agencies and legal professionals.

- Knowledge of digital fraud, cybersecurity threats, and online payment system