FCI:Lead Fraud Prevention

Job Description INTERNAL USAGE: No. of Vacancies: 1 Reports to: Group Head - Fraud Prevention Is a Team leader Yes Team Size: 5-6 Grade: VP Business: Financial Crime Intelligence Department: Financial Crime Intelligence Sub-Department: Fraud Prevention Unit Location: Corporate Office, Worli /Airoli About Department Financial Crime Intelligence unit is the first line of defense to prevent cyber frauds & mule activities. The unit leverages cutting edge analytics & tech stack to develop & implement strategies to prevent frauds. Unit has the following imperatives: .Analysing large datasets to identify fraudulent patterns .Developing and implementing fraud prevention strategies .Collaborating with cross-functional teams .Proactive detection of anomalies and frauds .Use analytics to identify abnormal patterns and create appropriate controls .Evaluate & deploy new age technology and automation tools .Deepen focus on training of staff on fraud prevention .Strong feedback loop to create & improve controls across product, process & journeys .Strike right balance between customer experience and fraud prevention About the Role Key responsibilities and the role demand the following must haves: Monitoring transactions for suspicious activity, using analytical tools like SQL and Python to analyze data, and creating reports to inform stakeholders and improve prevention, detection & security protocols.The role requires strong analytical, problem-solving, and communication skills to translate complex findings into actionable insights and protect the organization from financial and data-related risks. 1. Fraud Analytics - Analyze large datasets to detect suspicious activities, identify abnormal patterns, fraud trends, and understand customer behavior. - Leverage data analytics to identify and predict anomalous or fraudulent behaviour - Develop insightful dashboards and MIS reports to management - Monitor fraud incidents, patterns, and KPI or performance indicators. - Conduct root cause and post-incident analyses support to strengthen controls. - Support and play key role in maintaining the efficacy of various data marts - fraudster mart, CPFIR mart, etc. 2. Rule Writing & Optimization - Help the unit to design, implement, and continuously fine tune fraud controls - Monitor and assess rule performance metrics (hit rates, false positives, accuracy) - Conduct regular reviews to align logic with emerging fraud patterns and business objectives - Support the units with qualitative inputs to refine, improve and develop incisive rules 3. Strategy & Automation - Develop and implement data analytics fraud risk strategies for digital banking, card & other payment channels - Envisage, test and develop dynamic and innovative monitoring and review approaches in collaboration with various FCI units - Define and automate the entire end-to-end compliance reporting, follow-up and closure (CPFIR, Association etc.) with support from BIU and other stakeholders with adequate checks and controls to ensure timely and accurate reporting - Partner with business and technology teams to embed data feeds in the product and process design for analytics support - Work on opportunities to automate manual and time intensive work items with automation & productivity strategies 4. Risk Assessment & Control Effectiveness - Define and track key risk indicators (KRIs) and performance metrics to monitor fraud exposure. - Support the team to ensure timely response and closure of audit observations and compliance requirements. - Putting in place framework to measure the analytics teams - work undertaken, delivery and outcomes for management review - Provide data in a time-bound manner for reporting to management, regulator, quasi-regulator and other agencies on request - Structure, plan and provide ongoing and adhoc data and reports to the teams within agreed TAT's 5. Leadership & Collaboration - Mentor and lead a team of analysts and rule strategists, fostering a culture of analytical rigor - Leverage problem-solving and communication skills to translate complex findings into actionable insights - Keep up with the latest fraud schemes, cyber threats, and emerging fraud detection technologies and tools. - Recommend solutions and process changes to eliminate the reoccurrence of fraud. - Work cross-functionally with Business, Operations, Technology, BSG, Compliance, and Product teams. .Preparation and ownership of the business requirement document (BRD) with Business solutions & IT to ensure on time delivery of projects. Pre-requisite criteria for the role .Proficiency in data analysis tools likeand. .Excellent analytical and problem-solving skills, strong communication and presentation skills. .Candidates with prior experience in managing large data sets, analytics & hands on with analytical tools. .Experience in fraud data analytics, especially in banking or retail, would be preferred. .Knowledge or experience with data tables and structures of common FRM tools like Clari5, Falcon etc. .Ability to translate complex findings into crisp but insightful and actionable insights .Self-drive and ability to manage multiple tasks and work independently or with minimal supervision. .VP Level: 12+ years of proven experience leading analytics teams .A keen eye for detail and the ability to spot anomalies in data. Qualifications .Graduates from technical background (Engineering) would be preferred. .Relevant Certification on fraud risk /analytics /tools will be an advantage .Digital Payments knowledge .Investigation skills .Analytical bent of mind .People & social skills .Managed AI and LLM-powered analytics transformation .Communication and presentation skills .Cross functional stakeholder management .Knowledge and experience with advanced statistical and data analytic tools is a must have. AboutAxis Incorporated in 1994, Axis Bank is one of India's most trusted banks & the third largest in the private sector. The Bank offers the entire spectrum of financial services to customer segments covering Retail & Corporate Business viz. Large and Mid-Corporates, MSME and Agri business. At Axis Bank our vision is to be the preferred financial service provider excelling in customer delivery through insights, empowered employees & smart use of technology. The Bank has a young & engaged workforce of over 70,000 employees, with an average age of 30 years. We are an equal opportunity employer & believe in empowering our employees by offering rich roles, learning opportunities & flexibility to chart their career, their way.