Fraud Investigator - Bank

Position: Fraud Investigation Manager

Location: Mumbai, Maharashtra

About the Job:

We are seeking a highly motivated and detail-oriented Fraud Investigation Manager to lead and execute investigations into suspected fraudulent activities. This critical role will be responsible for managing the entire lifecycle of investigation cases, from initial complaint assessment and verification to the preparation of comprehensive reports and the implementation of preventative measures. The ideal candidate will possess strong analytical, investigative, and communication skills, coupled with a proven ability to manage multiple cases simultaneously and effectively collaborate with various stakeholders. This role requires a proactive individual with a keen eye for detail, a commitment to accuracy, and the ability to translate complex data into actionable insights.

Key Responsibilities:

Case Investigation and Verification:

- Independently and proactively investigate reported and suspected cases of fraud, ensuring thorough and objective evidence gathering.

- Conduct detailed fact-finding through interviews, document review, system analysis, and other appropriate investigative techniques.

- Analyze and evaluate gathered information to determine the validity and scope of alleged fraudulent activities.

- Develop and execute investigation plans tailored to the specific nature of each case.

- Maintain meticulous and organized case files, documenting all investigative steps, findings, and evidence.

Report Preparation and Documentation:

- Prepare comprehensive, accurate, and timely investigation reports summarizing findings, conclusions, and recommended actions.

- Ensure reports are well-structured, clearly articulate the facts, and provide supporting evidence.

- Present investigation findings to relevant stakeholders, including management and potentially legal or compliance teams.

- Maintain a log of all reported and investigated cases, ensuring accurate tracking and follow-up.

Cross-Functional Coordination:

- Collaborate effectively with regional teams, field investigators, and various internal departments (e.g., legal, compliance, operations) to gather information and facilitate investigations.

- Act as a central point of contact for fraud-related inquiries and investigations.

- Coordinate with external stakeholders, as necessary, under appropriate guidance.

Vendor Management:

- Manage relationships with external vendors (e.g., forensic investigators, background check agencies) to ensure case requirements are met efficiently and cost-effectively.

- Clearly define scope of work, monitor vendor performance, and ensure adherence to agreed-upon service levels and quality standards.

- Process vendor invoices and ensure timely payments.

MIS Reporting and Data Analysis:

- Maintain and update Management Information System (MIS) reports related to fraud incidents, investigation progress, and outcomes.

- Analyze fraud data to identify trends, patterns, and potential systemic weaknesses.

- Prepare insightful management presentations summarizing key findings, trends, and recommendations for fraud prevention and mitigation.

- Contribute to the development and improvement of fraud detection and prevention strategies based on data analysis.

Compliance and Best Practices:

- Ensure all investigation activities are conducted in compliance with relevant company policies, legal regulations, and ethical standards.

- Stay abreast of industry best practices and emerging trends in fraud investigation and prevention.

- Contribute to the development and implementation of fraud awareness training programs.

Skills & Qualifications:

- Strong Analytical and Problem-Solving Skills: Ability to critically analyze complex information, identify root causes, and develop effective solutions.

- Excellent Investigative Skills: Proven ability to plan, execute, and document thorough and objective investigations.

- Exceptional Communication Skills (Written and Verbal): Ability to clearly and concisely communicate findings, both verbally and in written reports, to various audiences.

- Proficiency in MIS Reporting and Data Analytics: Demonstrated ability to work with databases, generate reports, analyze data, and draw meaningful conclusions. Experience with data visualization tools is a plus.

- Strong Organizational and Time Management Skills: Ability to manage multiple cases simultaneously, prioritize tasks effectively, and meet strict deadlines.

- Experience in Vendor Management and Coordination: Ability to effectively manage external vendor relationships, ensuring quality service delivery and cost-effectiveness.

- Attention to Detail and Accuracy: Meticulous approach to gathering, documenting, and analyzing information.

- Integrity and Ethical Conduct: Demonstrated commitment to maintaining confidentiality and upholding ethical standards in all aspects of work.

- Proficiency in MS Office Suite (Word, Excel, PowerPoint).

Preferred Experience:

- Bachelor's degree in a relevant field such as Finance, Accounting, Law, Criminal Justice, or a related discipline.

- Proven experience (typically 3-5 years) in conducting investigations, preferably within the insurance, banking, financial services, or related industries.

- Familiarity with relevant laws and regulations related to fraud and financial crime.

- Experience in interviewing witnesses and subjects.

- Knowledge of forensic accounting principles and techniques is an advantage.

- Certifications in fraud examination (e.g., CFE) or related fields are desirable.