Fraud Risk Manager

The role involves building, monitoring, and enhancing fraud risk strategies across the lending lifecycle to minimize losses, safeguard portfolio quality, and ensure regulatory compliance. The candidate will work closely with Credit Risk, Operations, Collections, Technology, and Business teams to proactively manage fraud risks while supporting sustainable growth.

What will you do ?

Fraud Prevention & Detection

• Develop and implement fraud risk management strategies for unsecured and secured lending products (e.g., personal loans, consumer durable loans, credit cards, business loans).
• Set up robust customer onboarding and transaction monitoring controls to detect application fraud, identity theft, bust-out fraud, mule accounts, and other modus operandi.
• Monitor fraud trends, emerging typologies, and regulatory advisories to ensure preventive measures.
• Define rules, scorecards, and machine learning models for real-time fraud detection in collaboration with analytics/tech teams.
• Build efficient rules around fraud management with best in class false positives

Fraud Investigation & Monitoring

• Lead investigations into suspected fraud cases, coordinating with internal stakeholders and external agencies (field investigation teams, police, bureaus, etc.).
• Establish MIS and dashboards for fraud monitoring, root cause analysis, and reporting.
• Conduct periodic reviews of high-risk segments, channels, and partners.

Governance & Policy

• Formulate and update the Fraud Risk Management Framework, policies, and SOPs in line with RBI guidelines and industry best practices.
• Ensure compliance with internal audit and regulatory requirements on fraud risk reporting and management.
• Liaise with regulators, law enforcement, and industry bodies (e.g., CIBIL, SIDBI, RBI working groups) where required.

Collaboration & Stakeholder Management

• Partner with Credit Risk, Underwriting, Operations, Technology, and Business teams to ensure fraud controls are embedded across the lending lifecycle.
• Train and sensitize employees, sales channels, and partner institutions on fraud risks and preventive measures.
• Work with collections/recovery teams for fraud-related recovery actions.

Key Skills & Competencies

• Strong understanding of fraud typologies in lending (application fraud, synthetic ID, collusion fraud, digital lending fraud, account takeover, etc.).
• Good knowledge of Indian regulatory requirements (RBI Master Directions, KYC norms, Fair Practice Code, Fraud Classification norms, etc.).
• Analytical mindset with hands-on experience in fraud analytics, rules engines, and transaction monitoring systems.
• Excellent investigation, problem-solving, and decision-making skills.
• Strong communication and stakeholder management skills.
• Ability to work under pressure and manage multiple priorities.

Qualifications & Experience

• Graduate/Postgraduate degree in Engineering, Finance, Risk Management, Economics, or related field (CA/MBA/CFE preferred).
• 6–10 years of experience in fraud risk management within banks, NBFCs, fintechs, or credit bureaus.
• Exposure to digital lending ecosystems, credit bureaus, and fraud data consortiums is desirable.
• Hands-on experience with data analytics tools (SQL, SAS, Python, R) is an added advantage.

Must Haves

Technical Expertise: Deep understanding of fraud typologies in lending (application fraud, synthetic ID, collusion fraud, digital lending fraud, account takeover, etc.)

Regulatory Knowledge: Comprehensive knowledge of Indian regulatory requirements (RBI Master Directions, KYC norms, Fair Practice Code, Fraud Classification norms)

Analytics Proficiency: Hands-on experience with fraud analytics, rules engines, and transaction monitoring systems

Investigation Skills: Proven track record in fraud investigation, evidence gathering, and case resolution

Data Analysis: Proficiency in SQL and at least one statistical tool (SAS, Python, R)

Should Haves

Advanced Analytics: Experience with machine learning models for fraud detection

Industry Exposure: Knowledge of digital lending ecosystems, credit bureaus, and fraud data consortiums

Leadership Experience: Experience in managing fraud risk teams or cross-functional projects

Technology Integration: Understanding of API integrations, real-time monitoring systems