Lead Fraud Risk Management Strategist

7 days ago

Mumbai, Maharashtra, India Kotak Mahindra Bank Full time

About This Role:

We are seeking a highly skilled Lead Fraud Risk Management Strategist to join our team at Kotak Mahindra Bank. The successful candidate will be responsible for developing and executing comprehensive fraud prevention strategies aligned with organizational goals and regulatory requirements.

Key Responsibilities:

  • Develop and implement a robust fraud risk governance framework, policies, and procedures to ensure compliance with regulatory guidelines and standards.
  • Oversee the proactive identification, assessment, and analysis of fraud risks across all business units in the Bank, identifying emerging threats and collaborating with stakeholders to ensure a strong fraud risk management system.
  • Establish and maintain relationships with key stakeholders, including regulators, auditors, and external partners, to stay updated on regulatory changes and industry trends.

Fraud Risk Governance:

  • Develop, maintain, and enhance the organization's fraud risk governance framework, policies, and procedures to ensure alignment with the enterprise-wide risk management strategy and regulatory requirements.
  • Set risk appetite and tolerance levels specific to fraud risk and monitor adherence to ensure effective risk mitigation.

Risk Oversight and Advisory:

  • Provide independent oversight and challenge to the first line of defence's fraud risk management activities, ensuring that fraud detection and prevention strategies are effective against evolving threats.
  • Review and assess the effectiveness of fraud detection systems, analytics tools, and reporting mechanisms, recommending enhancements as needed.

Monitoring and Reporting:

  • Regularly report on fraud risk trends, issues, and controls to senior management, committees, and the board, escalating significant fraud risk concerns or incidents as necessary.

Required Skills and Qualifications:

  • Bachelor's degree in finance, accounting, business administration, risk management, or a related field, with advanced degrees or certifications such as Certified Fraud Examiner (CFE) or Certified Risk Management Professional (CRMP) highly preferred.
  • Minimum 10–15 years of experience in fraud risk management, governance with significant time spent in leadership roles within banking, including prior experience in a second-line-of-defense or oversight role.
  • Proven expertise in managing complex fraud investigations and regulatory engagements, with excellent analytical and problem-solving skills and proficiency in fraud risk tools, governance systems, and data analysis software.

Estimated Salary: ₹35 lakhs - ₹55 lakhs per annum

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