AVP - Fraud Analytics & Risk Management Specialist - Investment Bank

Position Opening: Fraud Analytics and Risk Management Specialist

Location: Mumbai

Overview:

Join our team in a pivotal role that interfaces with vendors, model risk management teams, technology groups, and business strategy units. The main focus will be on the documentation, deployment, and performance assessment of fraud detection models to minimize financial losses and customer inconvenience.

Key Responsibilities:

- Collaborate with both external vendors and internal teams to prepare and obtain approval for new fraud detection methodologies, including detailed documentation of model construction, validation, methodology, sampling strategies, and performance metrics.

- Regularly conduct validations of fraud detection models, monitoring metrics such as precision, recall, and rank ordering, to ensure optimal performance and prevent degradation that could lead to fraud losses.

- Liaise with Strategy teams to relay findings on model performance, pinpointing areas of underperformance or decline, and suggest adjustments to mitigate risks.

- Coordinate with Model Risk Management (MRM) to address and resolve any issues with models that have received partial or conditional approval, and forge strategic partnerships to establish governance practices that balance risk mitigation with the need for rapid deployment.

- Create and maintain dashboards and management information systems (MIS) to monitor model performance and highlight potential concerns.

- Drive automation within the team to streamline repetitive tasks and enhance efficiency.

Qualifications:

Essential Education:

- An advanced degree in Statistics/Mathematics, Computer Science, Engineering, or another quantitative field from a leading institution. A bachelor's degree in a similar field is also desirable, with a postgraduate degree being an added advantage.

Experience:

- 6 to 9 years of experience in analytics, with at least 2 years in model risk management. Prior experience in model development and fraud analytics is preferred.

Technical Proficiencies:

- Mandatory experience with SAS or SQL. Proficiency in Python/PySpark is highly desirable.

- Familiarity with data extraction tools such as Hive, HUE, or Pig.

- Skilled in using visualization software like Tableau and presentation tools like PowerPoint.

Preferred Certifications:

- Technical certifications in SAS, SQL, or relevant fields.

Desired Attributes:

- Exceptional communication and organizational skills.

- Innovative thinking and a proactive approach to problem-solving.

- Eagerness to learn and contribute significantly to the team.

- Previous experience in the U.S. financial services sector and knowledge in domains such as Fraud/Compliance/Risk would be advantageous.

This role is designed for individuals passionate about protecting consumer interests through innovative fraud detection and risk management strategies. If you're ready to make a significant impact in a challenging but rewarding environment, we look forward to your application.