Lead-Fraud Reporting

Job Requirements

About the Role

The Lead – Fraud Reporting is responsible for preventing fraud during transactions by collaborating with the Fraud Monitoring Committee, Audit, Compliance, Branch Banking, Retail and Wholesale Operations teams. The role is critical in mitigating organizational, reputational, and financial risks to IDFC Bank and its brand image. The role entails accountability for fraud detection and solutioning for Retail Liabilities products, investigating and reporting frauds during electronic transfers. The role bearer also serves as the Nodal Officer for fraud returns to the RBI and plays a vital role in ensuring the smooth functioning of the bank while helping achieve its larger organizational objectives.

Key Responsibilities

Primary Responsibilities

• Conduct diligent and rigorous 24x7 monitoring, reviews, and evaluations of mobile and internet banking services to limit customer liability.
• Ensure timely and accurate fraud reporting to appropriate authorities and regulatory bodies in adherence to regulations.
• Spearhead the early warning system to identify red flag accounts and provision losses.
• Lead fraud investigations based on logged incidents and conduct regular sampling checks to prevent potential fraud.
• Update the Central Fraud Repository and leverage it to recommend further measures for fraud spotting and mitigation.
• Investigate and report fraud instances including robberies or burglaries for branch and rural banking services.
• Collaborate with law enforcement agencies and police authorities to mitigate organizational and reputational risks.
• Partner with the Product team to recommend changes to products and policies to reduce fraud cases.
• Establish a risk management culture and harmonized frameworks across business and product teams.
• Oversee implementation of risk management policies, procedures, and controls ensuring regulatory and internal compliance.
• Design and deploy customer fraud awareness campaigns and initiatives regarding fraudulent activities such as skimming and phishing.
• Develop and maintain effective business relationships with all relevant external and internal entities.
  
  

• Mentor and coach senior team members to instill customer centricity, innovation, compliance, and integrity.
• Create an environment for constant innovation and bottom-up sharing of ideas.
• Attract and retain best-in-class talent for key roles within the reporting structure.
• Monitor key parameters such as employee productivity, hiring quality, and attrition rates and implement necessary improvements.
  
  

• Graduate – Any
• Postgraduate – MBA in Finance
  
  

• Minimum 15 years of relevant experience.
  
  

• Strong understanding of fraud detection and prevention strategies.
• Excellent analytical and investigative skills.
• Ability to collaborate with internal and external stakeholders including law enforcement.
• Effective communication and report writing skills.
• Leadership and mentoring capabilities.
• Strong governance and compliance orientation.