Fraud Risk Manager

The role is responsible for end-to-end fraud risk management and control across liability, digital, and payment products of the bank. The focus is on mitigating fraud risks through strong processes, implementation of internal controls, driving automation solutions, and ensuring timely reporting to stakeholders.
The core responsibilities for the job include the following:
Strategy and Planning:
Implement strategies for fraud prevention, early detection, investigation, transaction monitoring, regulatory reporting, and responding to LEA notices.
Develop a clear roadmap aligned with industry trends in business and fraud risk.
Evaluate existing fraud prevention and transaction monitoring systems; recommend enhancements or new tools where required.
Ensure optimal team capacity and continuous training for effective performance.
Review and strengthen processes to prevent fraud while maintaining business balance; ensure investigations are completed within defined TAT.
Ensure timely regulatory reporting and effective handling of LEA interactions.
Policies, Processes, and Procedures:
Establish and maintain fraud control and transaction monitoring policies with clearly defined responsibilities.
Define, review, and continuously improve processes in line with evolving fraud risks and industry practices.
Drive ongoing refinement of departmental procedures and reporting mechanisms.
Manage Fraud Risk Committee deliverables and conduct fraud governance meetings.
Ensure learnings from fraud cases are incorporated into policies and process improvements.
Develop and implement Fraud Risk Management frameworks across assets, liabilities, corporate, BB, and digital business units.
Continuously evaluate fraud detection tools and enhance their effectiveness.
Assess fraud risks based on historical data, known fraud patterns, and emerging threats; implement mitigation strategies.
Ensure compliance with all regulatory and internal policies.
Risk Management and Controls:
Collaborate with cross-functional teams to mitigate fraud risks effectively.
Drive re-engineering and optimization of fraud detection tools and processes.
Ensure adherence to regulatory mandates and manage internal/external stakeholders.
Benchmark fraud prevention practices with peer banks and industry standards.
Implement enterprise-wide fraud risk management systems.
Design and deploy fraud scenarios based on risk assessment to enhance surveillance efficiency and customer experience.
People Management:
Train and develop team members to effectively identify and report suspicious activities.
Define and implement team goals, policies, and procedures.
Build, retain, and nurture a high-performing fraud risk team.
Requirements:
Minimum 14+ years of experience in Fraud Risk / Fraud Control within BFSI.
At least 5+ years in a leadership role, managing fraud strategy and teams.
Strong leadership capabilities with experience in building and mentoring high-performing teams.
Proven experience in stakeholder management, including regulators, audit committees, legal, operations, and technology teams.

Experience
14-18 yrs