Team Member-Governance & Control Environment-SUPPORT SERVICES-Fraud Risk Management Unit

Description Role Name: Fraud Governance and Prevention - To design, govern, and oversee the Bank’s Fraud Risk Management framework , ensuring: - strong enterprise-wide fraud governance and risk culture - Regulatory compliance (RBI Fraud Directions, AML/KYC, etc.) - proactive identification and mitigation of fraud risks for Commercial Banking The role operates as a Second Line of Defence (SLOD) providing independent oversight, challenge, and governance to business and fraud operations. 2. Key Responsibilities A. Fraud Governance & Framework Design - Develop and maintain enterprise-wide Fraud Risk Management (FRM) framework , policies, and standards - Ensure alignment with: - RBI Fraud Risk Management Directions (2024) - enterprise risk framework - Define fraud risk appetite, thresholds, and tolerance limits B. Fraud Risk Identification & Assessment - Lead fraud risk assessments across products, channels, and processes - Identify: - emerging fraud typologies (digital, payments, lending, social engineering) - internal vs external fraud risks - Build frameworks for: - Early Warning Signals (EWS) - Red Flagging of Accounts (RFA) C. Policy, Controls & SLOD Challenge - Develop and review: - anti-fraud policies - control standards - process controls across lifecycle - Validate control design and operating effectiveness - Provide independent challenge to FLOD (business/operations) D. Fraud Intelligence - Provide insights for: - policy changes - control enhancement - strategic interventions E. Incident Oversight & Root Cause Analysis - Oversee significant fraud incidents at enterprise level - Ensure: - root cause analysis - systemic remediation - closure tracking F. Governance, Committees & Board Reporting - Present fraud risk insights to: - Risk Committee / Board - Senior management forums - Track: - fraud losses - system effectiveness - control gaps G. Third-Party & Ecosystem Risk - Oversee fraud risks arising from: - vendors - fintech partners - outsourcing arrangements - Ensure adequate third-party controls 3. Key Deliverables / Outcomes - Ensuring adherence to Fraud Governance Framework including FRM Policy - Oversight on Effective EWS / RFA system - Reduced fraud loss ratios & improved detection rates - Strong regulatory compliance track record - Board-level visibility of fraud risk exposure - Measurable control effectiveness improvement 4. Skills & Capabilities Functional - Fraud risk management (payments, lending, digital, identity) - Risk frameworks (eg Operational Risk / COSO / Basel) - Regulatory knowledge (RBI fraud directions, AML, KYC) Analytical - Data analytics / fraud pattern recognition - Scenario thinking & risk assessment Leadership - Stakeholder management across business, tech, ops - Ability to challenge constructively (SLOD independence) Strategic - Ability to balance: - fraud risk mitigation - business growth - customer experience - Business / Product teams (FLOD) - Fraud operations - Compliance / Legal - Technology / Data 5. Reporting Structure Reports to Head Fraud Risk Governance, Prevention and Investigation Works with: - Business / Product teams (FLOD) - Fraud operations - Compliance / Legal - Technology / Data