Senior Manager - Fraud Management - Insurance

Sr. Manager- Fraud Management (must have experience on VBA, ACL)

Location : Gurgaon (HO)

Job Summary :

To identify proactively high impacting fraud instances/transactions across Distribution and Operations functions on the defined scope of Risks in order to apply corrective and preventive approach for process enhancements and minimizing negative impact on Organization, Customer and Employees/Distributor which may or may not be financial in nature.

The objective of fraud identification is to be achieved through identification of possible key lead indicators, deploying fraud identification mechanism and procedures, performing data analytics, risk mitigation via reports & advisories and driving preventive & corrective actions through agreed management action plans.

Key Responsibilities :

- Identification of potential key fraud Risks and categorization within the ambit of scope.

- Identify and develop Fraud Risk triggers.

- Develop Risk Monitoring Strategy though data analytics

- Implementation of Continuous Control Monitoring (CCM) technique to receive regular IT based reports highlighting Red Flags.

- Disposition of Fraud indicators and recommending preventive controls

- Disposition of Fraud indicators and recommending preventive controls

- Parameters defined to measure identified Risk for analysis

- Follow up and management agreed action & closures

- Measurement of Success through Dashboards.

- The list of key risk coverage under Fraud Identification.

Measure Of Success :

- Minimizing financial fraud loss through fraud identification.

- Adherence of norms and company policies within the purview of Anti Fraud Policy

- Identification and timely adequate closure of cases highlighted

- Adequate and timely action on compliance and process gaps

- Internal / External Audit rating

Dashboards Responsibility :

- Suspicious Transaction reporting and disposition

- Quantified loss

- Plan v/s Action

- Status of cases & agreed management Action plan

Minimum Education : Bachelors degree in any discipline.

Knowledge / Skills / Abilities :

- Strong analytical ability

- Team Management

- Strong communication

- Excellent persuasive skills

- High on collaborating and influential skills

- Advanced Presentation and Excel

- Strong Process/ controls orientation

Minimum And Specific Experience :

- More than 5-7 yrs of Experience in Process control, fraud investigation, prevention, control in Insurance Domain.

- Statistical & Analytical - SQL, ACL, DBMS, Excel, Presentation, Dashboarding, Forecasting (Desirable)

- Project experience of handling high risk framework and effective execution of Risk Control Framework which is based on smart logic and technology driven.