Position Details: Manager– Fraud Risk Management

Grade: Manager

Education: Any graduate/post graduate

Experience: 7-8 Years

Job Description

· Banking industry experience in fraud & risk management, financial services, banking or digital banking

· Demonstrated problem solving, decision making and leadership skills required.

· Fraud monitoring tools knowledge

· Monitor existing fraud strategies

· Monitor branch operations & merchant operations

· To raise awareness of fraud risks

· Implementing controls aimed at preventing fraud

· Establishing and maintaining procedures applicable to the detection of fraud and the enforcement of FRM policy.

· To keep committee aware of the proportions of the fraud, modus operandi and the steps taken by the Bank to mitigate them

· Monitor and review the progress of the mitigating steps taken by the Bank in case of electronic frauds and the efficacy of the same in containing fraud numbers and values

Is responsible for observing various transactions from branches & merchants to flag or identify suspicious activity. Monitor accounts and customers having banking patterns that typically do not change over the long term and any transactions or series of transactions that do not fit the expected activity which generate a 'red flag'.

• If any suspicious transactions are found, the fraud analyst will flag the account and keep it suspended until it can be checked and verified. Transactions can be looked at for any number of reasons: transaction type, transaction amount, unusual transfers to unlikely partners, places where transactions originate, or a flurry of activity beyond the accepted norm for the account

• To obtain information for any suspicious transactions that can support the origin of the transaction which can bear out who perpetrated the fraudulent item and is responsible for the criminal activity in question? To contact the bank branch, the merchant, the account holder and any other intermediate parties that may have come in contact with or handled the questionable item. Is responsible for keeping any collected information confidential while working to catch the criminal(s) who may have committed the felony.

• Must also keep models for analyzing fraud within the bank’s regions which can help determine patterns of fraud over certain areas, and break down larger criminal rings responsible for fraud activity. To identify certain holes in security that can be targeted over time, so that it can identify system improvements to be made to eliminate the risk of fraud or reduce the ways in which it can occur.

• To give inputs in software tools that can work towards detecting fraud and preventing it from occurring, or reporting security threats and suspicious activity quickly.