Fraud Reporting Team Member

1 week ago

Bengaluru, Karnataka, India Kotak Mahindra Bank Full time ₹ 12,00,000 - ₹ 36,00,000 per year

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

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 1st 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

Experience LevelSenior Level

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