AVP- Fraud Control Unit

3 weeks ago

Mumbai, Maharashtra, India Liberty Mutual Full time
Job Description

Qualifications

- Candidate must be a graduate/postgraduate/LLB.
- Preference will be given if candidate is a Certified Fraud Examiner.
- Candidate must have at least 10 years of experience in Financial Crime Unit (FCU) in financial services.

Competencies

- Proactive fraud risk identification and mitigation of potential fraud framework across all channels.
- Strong auditing, analytics, and investigative skills.
- Good at managing key stakeholders.
- Ability to work under pressure and manage multiple tasks effectively.
- Excellent communication and reporting skills.
- Knowledge of regulatory requirements related to fraud and financial crime.
- Familiarity with fraud detection systems and case management tools.

Primary Responsibilities

- Managing Central FCU activities (screening/sampling) at Head Office level.
- Identifying fraud trends and suggesting, implementing fraud checks at regular intervals to Head Underwriting/CCO.
- Coordinate closely with all functions to process data on a need basis.
- Work closely with Operational Risk team ensuring compliance to Basel risk compliances.
- Use data analytics to detect frauds or trends.
- Lead team of investigators and local ethics counsellors in investigation of misconduct/ethical matters.
- Coordinate with different departments and law enforcement agencies.
- Monitor business transactions/customer activities to detect suspicious patterns or fraud indicators.
- Investigate fraud alerts, customer complaints, and escalated cases from internal teams.
- Conduct Root Cause Analysis and recommend preventive measures to reduce future fraud risks.
- Build, maintain, and update fraud detection systems, tools, and rule sets.
- Prepare timely and detailed investigation reports and maintain proper documentation.
- Participate in and conduct fraud awareness campaigns/trainings.
- Ensure compliance with internal policies, regulatory guidelines, and industry best practices.

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