Fraud Control Unit Executive

Key Responsibilities

• 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.
  
  

• 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.