FCI:Fraud Prevention Analyst

Job Description

FCI:DTM - Fraud Prevention Analyst
INTERNAL USAGE:
No. of Vacancies: 4 Reports to:
Is a Team leader No Team Size:

Grade: Manager
Business: Financial Crime Intelligence Department:
Location: Corporate Office, Worli
About Department
Financial Crime Intelligence (FCI) department has been created to enhance the Bank's capabilities in prevention, detection and response to frauds against the Bank as well as our customers. This a centralized team that will focus on ensuring there is a strong feedback loop of learnings into improvement in practices, models and customer journeys, develop analytics and technological capabilities as a competitive advantage and deepen our focus on training to ensure fraud prevention at the frontline. With these objectives in mind, a new department Financial Crime Intelligence has been created with the Fraud Control Unit (FCU) and Digital Transaction Monitoring (DTM) being housed under the FCI department to ensure greater synergies.
About the Role
The Loan Fraud unit within FCI is being expanded to improve coverage of customer onboarding both at Digital & Physical journeys across Retail Lending, Bharat Banking & DBAT.

The position will -

- actively assist the seniors in FCI in drafting and presenting Fraud Risk Assessments (FRAs) of various retail products and will have to peruse the existing process / policies across products and recommend changes to the seniors considering the fraud trends.
- Collaborate with various stakeholders within & outside the Bank with the objective of implementing recommendations and take issues to its logical closure.
- Analyze the fraud data and recommend corrective actions based on the latest trends and modus operandi.
- Evaluate tech tools available to ensure that the product journeys are enriched from time to time.
- Establish and manage regular cadences with various stakeholders with an intent to share learnings and/or for closure of any actionable or project.
- Be well conversant with relevant statues, knowledge of RBI circulars and policies.
- Work closely with the Fraud Control unit team on various projects and activities.

Candidate must have 4- 6 years of work experience in Forensic Services, Fraud Risk, Fraud control unit and should have good analytical skills, excellent communication and presentation skills. Having working knowledge of MS Office, LOS, Finacle / Finone and should be abreast of latest tech tools.

Key Responsibilities
- Ability to understand the life cycle of a retail product.
- Ability to analyze the Retail frauds and identify gaps and lacunas in policy and processes which led to the fraud.
- Recommend practical changes which will be in line with RBI policies and circulars.
- Ability to peruse the process note / SOPs across all products and assist in drafting fraud risk assessment for products offered to bank customers using available tech tools.
- Understand the current systems capabilities for implementation and assist in avoiding similar frauds in future.
- Assist in analyzing root causes and implement corrective actions.
- Regularly prepare MIS / dashboards and SOP to support smooth functioning of the loan fraud unit.
- Assist in developing early warning signals through open sources databases, media, and other public domains, considering socio economic & political changes.
- Develop working relationship within Bank with relevant stakeholders for smooth functioning of the loan fraud unit and FCI team.

Qualifications
- Graduate in any discipline
- CFE certification will be an added advantage.
- Any relevant Certification will be an added advantage

Role Proficiencies:
- Loan lifecycle knowledge
- Investigation skills
- Forensic examination
- Data Analytics