Urgent: Team Member-Fraud Reporting-SUPPORT SERVICES-Fraud Risk Management Unit

3 weeks ago

Bengaluru India Kotak Mahindra Bank Limited Full time

Job Description

Job Description - Fraud reporting.

DEPARTMENT :Fraud Risk Management (FRM) - Fraud Reporting Desk

Job Profile : Review, Reporting and closure of regulatory returns.

Role :Deputy Manager/Manager ( M2/M3)

Reporting :Vice President

Job Overview:

Definition of fraud:

A bank fraud is a deliberate act of omission or commission by any person carried out in the course of a banking transaction or in the books of account maintained manually or under computer system in banks, resulting into wrongful gain to any person for a temporary period or otherwise, with or without any monetary loss to the bank.

Regulatory obligation on the Bank:

- Reporting of Frauds perpetrated in the Bank (primarily) and subsidiaries and affiliates/joint ventures not regulated by RBI.
- Provide update on Developments in the fraud reported
- Closure of Frauds
- Theft, Burglary, Dacoity and Bank Robberies reporting- Immediately on occurrence
- Senior Management/SCBMF/Board/ACB/IBA reporting - Quarter/Half yearly/Annual review of frauds
- Review of Potential loss and provisioning adequately.

Job Description:

- Review of Unusual events, Investigation Reports in the role of 2nd Line of defense
- Feedback to 1^st Line on review of reports and seek relevant clarification/justification.
- Collation of necessary information by following up with Risk Containment Unit (RCU) / Business / Recovery teams in relation to fraud reporting.
- Reporting of Fraud in RBI prescribed template
- Maintenance of Fraud tracker and Master file
- Analysis of fraud reported accounts in Core Banking System, monitor the recovery/disputed settlement/write off/Provision.
- Potential loss due to fraud - Co-ordinate with Risk Containment Unit/Business/Finance team to ensure adequate provisioning for the loss.
- Appraise to Senior Management/Special committee/Board/ACB on frauds in defined frequency.
- Timely updates in relation frauds in the RBI system.
- Recommend and obtain approval from Senior management recommending for closure frauds after due regulatory process is followed.
- Closure of frauds in RBI system.
- Drive projects on automation in relation to fraud reporting.
- Handle the scheduled regulatory return submission and other inter-department submission.
- Co-ordination with RCU / Business / Recovery teams for updates on LEA/SFIO reporting
- Regular Dash Board related in relation to frauds to Business Head.
- Theft, Burglary, Dacoity and Bank Robberies reporting to Regulator- Immediately on occurrence.
- Regularly update/amend faStandard Operating Procedures (MoPP).

Skill requirement:

- Well versed in usage of Core Banking system, Finacle, Core NX, Vision +
- Well versed in MS office (Word and Excel)
- Knowledge of KRAMAN/SFDC/Compass software

Eligibility: As HR IJP policy eligibility criteria

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