Fraud Control Unit Executive

Job Description

Fraud Detection and Prevention: Implement fraud detection mechanisms, tools, and processes to identify suspicious activities, anomalies,and patterns indicative of fraudulent behavior.

Monitor transactional data, customer behavior, and account activities to proactively identify and prevent
fraudulent transactions and activities.

Investigation and Analysis: Conduct thorough investigations into suspected fraudulent activities, including loan application fraud, identity theft, and financial misrepresentation.

Gather evidence, analyze data, and interview stakeholders to identify root causes, perpetrators, and
methods used in fraudulent schemes.

Case Management and Reporting: Document and track fraud cases, maintaining detailed records of investigations, findings, and outcomes in accordance with company policies and regulatory requirements.

Prepare investigative reports, case summaries, and recommendations for management and regulatory
reporting purposes.

Collaboration and Coordination: Collaborate with internal departments, including credit, collections, and legal teams, to share information, coordinate actions, and implement fraud prevention measures.

Liaise with external partners, law enforcement agencies, and regulatory authorities to report and
investigate fraud incidents and support legal proceedings, as necessary.

Training and Awareness: Develop and deliver training programs, workshops, and awareness campaigns to educate employees on fraud risks, detection techniques, and reporting procedures.

Promote a culture of fraud awareness and compliance throughout the organization, encouraging employees to report suspicious activities and adhere to ethical standards
Compliance and Risk Management: Ensure compliance with regulatory requirements, industry standards, and best practices in fraud detection
and prevention.
Implement risk management controls, policies, and procedures to mitigate fraud risk and safeguard company assets and interests.
Continuous Improvement: Stay abreast of emerging fraud trends, technologies, and regulatory developments in the financial services
industry.
Continuously evaluate and enhance fraud detection systems, tools, and processes to adapt to evolving fraud threats and protect the organization from financial losses.

Qualification:

Bachelor s degree in criminology, finance, accounting, or related field; certification in fraud examination or forensic
accounting preferred.
2+ years of experience in fraud detection, investigation, or risk management roles, preferably in the financial
services industry or NBFC sector.
Strong analytical and investigative skills, with the ability to analyze complex data sets, detect anomalies, and
conduct thorough fraud investigations.
Knowledge of fraud detection techniques, fraud schemes, and red flags in the financial services industry.
Familiarity with regulatory requirements, compliance standards, and reporting obligations related to fraud
prevention and detection.
Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional
teams and external stakeholders.
Attention to detail, integrity, and confidentiality in handling sensitive information and conducting investigations.
Proficiency in fraud detection tools, data analysis software, and case management systems.
Ability to work independently, manage multiple tasks, and prioritize workload effectively in a fast-paced, dynamic
environment.