Head - Fraud Containment Unit/Fraud Management - Bank/NBFC

Objective: As the Head of FCU, you will be at the forefront of ensuring the highest standards of security and fraud prevention measures for our digital NBFC operations. This role mandates a comprehensive understanding of the digital financial landscape in India, consumer fraud and cyber fraud threats, and effective fraud prevention methods to safeguard our customers and our institution.

Key Responsibilities:

1. Fraud Detection and Prevention:

- Lead the design, development, and implementation of cutting-edge fraud detection and prevention systems for our digital NBFC operations.

- Continuously monitor and analyze transactions to identify suspicious activities.

2. Strategy Development:

- Develop and implement the overarching strategy for fraud prevention, keeping in mind the evolving digital financial landscape.

- Ensure fraud risk management strategies are aligned with business objectives.

3. Team Leadership:

- Lead a team of fraud analysts and investigators. Provide training, mentorship, and direction to ensure operational excellence.

- Managing the vendors for RCU and FCU

- Coordinate with various internal departments, especially IT, Operations, Business, and customer support, for seamless fraud prevention operations.

4. Incident Management:

- Oversee the investigation of fraud incidents, ensuring quick resolution and minimal impact.

- Coordinate with law enforcement agencies when required.

5. Policy & Procedure Formulation:

- Develop, review, and refine policies and procedures related to fraud detection, prevention, and response.

- Ensure that policies comply with Indian regulatory standards and best practices.

6. Stakeholder Communication:

- Engage with senior management, providing updates on fraud risks, incidents, and prevention strategies.

- Educate internal stakeholders about fraud risks and preventive measures.

7. Technology Integration:

- Work closely with the technology team to integrate the latest fraud detection and prevention tools.

- Stay abreast of technological advancements in fraud detection and implement them as required.

8. Continuous Learning & Improvement:

- Stay updated with emerging fraud trends, tactics, and preventive measures in the digital finance space, especially in India.

- Encourage a culture of continuous improvement and learning within the team.

Requirements:

1. Qualifications:

- Bachelor's or Master's degree in Finance, Law, CS or related fields.

- Additional certifications in fraud detection or cybersecurity are a plus.

2. Experience:

- Minimum of 7 years of experience in fraud detection and prevention, in a digital financial institution, Banks or NBFC.

- Prior experience in a leadership role is mandatory.

3. Skills:

- Strong analytical and decision-making abilities.

- Proficient in fraud detection software and tools.

- Familiarity with the digital financial landscape in India.

- Excellent communication and interpersonal skills

- Good understanding of RBI, RoC and other statutory institutions framework

4. Other:

- Understanding of Indian regulatory norms concerning digital NBFCs and fraud prevention.

- Ability to work under pressure and handle crisis situations effectively.