VP - Fraud Investigation - Retail Assets

1 week ago

Mumbai, Maharashtra, India Yes Bank Full time ₹ 12,00,000 - ₹ 36,00,000 per year

ROLE SUMMARY

The role holder will be primarily responsible for managing a team responsible for conducting the investigation of all Suspected fraud/Attempted fraud cases pertaining to Retail, SME, Liability, Red Flagged Account (RFA) and Willful Defaulter (WD) cases across the Bank, raised under YVN. The role requires extensive experience in managing/monitoring of investigations and an in-depth understanding of assessment and identification of the underlying risk applicable for below product lines.

  • Retail Assets (RA) primarily consists of the following business segments: Secured and Unsecured loans of various types (Personal Loan/Business Loan, Auto Loan, CV, CE, HCF, Home Loan, LAP etc.)
  • Retail Liability primarily consists of Saving and Current account.
  • Small and Medium Enterprises (SME) primarily consists of the following business segments: Micro Enterprises Banking (MIB) comes under Business Banking and Small Enterprises (SE) & Medium Enterprises (ME) comes under Commercial Banking
  • RFA accounts are the loan accounts where suspicion of fraud arises due to one or more Early Warning Signals (EWS), prompting the bank to investigate potential wrongdoing.
  • Wilful defaulter is the borrower who deliberately avoids repayment obligations despite having the capacity to pay.

KEY RESPONSIBILITIES/ ACCOUNTABILITIES

Strategic / Job Responsibilities

  • Heading entire team for conducting investigations in a sound and ethical manner along with driving timely submission of reports within the specified timelines.
  • Supporting team in deriving the scope of investigations and assisting in conducting sensitive interview basis the observations.
  • Engagement with Regional / Zonal / National level stakeholders for fostering the collaborative environment and ensuring the redressal of observations.
  • Recommend process improvements / gaps based on feedback from team identified during the course of investigations.
  • Validation of case reports prepared for submission to senior management.
  • Monitoring of the investigative procedures and accordingly suggest innovative ideas for cost minimization.
  • Spearheading improvement in existing process and framework for the team.
  • Providing trends, patterns for key risk areas to senior management for effective risk mitigation.
  • Establish good network with peers and sharing best practices followed on timely basis.

People Management Responsibilities

  • Maintaining and reviewing monthly performance of the team members.
  • Ability to work effectively with diverse populations.
  • Ability to supervise and train employees, to include organizing, prioritizing, and scheduling work assignments.
  • Grooming team members for taking higher responsibility.
  • Managing effective liasoning with all stakeholders on a regular basis.
  • Driving, participating in projects/ initiatives aligning with organizational goals.

EDUCATION & EXPERIENCE

EDUCATION

Minimum Qualifications

  • Graduate/Post-Graduate/Masters degree: CA / MBA from reputed institute (experience in Fraud Risk management preferred)
  • Professional certifications (CFA/CFE/CAMI will be preferred)
  • Soft Skills: Expert proficiency in written and verbal communication in English.

Language Skills

  • English, Hindi and Regional language.

EXPERIENCE

Years of Experience

  • Minimum experience of 6 to 10 years in a Reputed Bank or Financial Institution preferably in Investigation Role or managing the similar profile/portfolio.
  • Experience of handling a team of at least 2 members.

TECHNICAL COMPETENCIES

Technical Competencies

Good understanding of MS Office suite.

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