Lead - Fraud Risk Management

Job Summary

Lead - Fraud Risk Management with deep expertise in fraud risk analytics and controls for Payment products including PPI (Prepaid Payment Instruments), UPI, and PAPG (Payment Aggregators). The role demands end-to-end responsibility for fraud detection, rule formulation, testing, and continuous optimization across multiple fraud risk management tools. The specialist will lead efforts in risk assessment, regulatory compliance, and integration of fraud controls to secure payment ecosystems while ensuring seamless and convenient customer experience Job Summary

Key Responsibilties

1. UPI and PPI Payments

There are high transaction volume, regulatory complexity, and systemic importance, risk management here should focus on

• Lead compliance with NPCI, RBI, and related regulatory bodies governing UPI and Prepaid Payment Instruments (PPI).
• Ensure robust controls for transaction monitoring, fraud prevention, dispute resolution, and data security in payment operations.
• Oversee risk assessments, audits, and compliance frameworks specific to payment platforms and third-party payment providers.
• Drive continuous improvement in governance protocols and regulatory reporting related to UPI and PPI services.
• Enterprise Risk Management (ERM) framework should be applied to manage risks in a controlled manner aligned with the organization's risk appetite, with robust controls and continuous oversight

2. Insurance Product

• Oversee compliance with IRDAI regulations and insurance-specific risk management practices
• Manage regulatory reporting, risk assessment, and operational controls for insurance product lifecycle including underwriting, claims, and premium collection
• Partner with business leaders to address regulatory changes, ensuring fair customer practices and risk transfer mechanisms are in place

3. Investment Products

• Ensure compliance with RBI, SEBI, and other authorities on investment products such as mutual funds, bonds, and securities
• Implement frameworks to monitor investment risk exposure and adherence to regulatory limits and reporting standards
• Coordinate periodic audits and internal controls on investment operations

4. Loans Products

• Lead risk governance and compliance protocols related to loan origination, pricing, credit risk, and documentation as per RBI guidelines.
• Monitor regulatory adherence in lending practices, customer disclosures, and risk mitigation

5. General Leadership and Governance

• Develop and maintain the enterprise-wide Risk and Compliance Framework, policies, and procedures
• Serve as the primary liaison with regulators, auditors, and internal stakeholders for all Risk and Compliance matters
• Provide strategic risk insight and compliance guidance to executive management and the Board
• Lead, mentor, and develop the Risk and Compliance team across product verticals
• Drive a culture of proactive risk management and compliance awareness across the organization

Key Skills & Competencies:

• Bachelors degree in finance, Business Administration, Risk Management, or a related field.
• Advanced degree (MBA, MS) or professional certifications (CFA, FRM, PRM) preferred.
• Minimum of years of experience in risk management within the BFSI industry.Proven track record in a senior risk management role with significant leadership responsibilities.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• In-depth knowledge of regulatory requirements and risk management frameworks.
• Proficiency in risk management software and tools.
• Strategic thinker with the ability to align risk management with business objectives.
• High ethical standards and integrity.
• Ability to work effectively under pressure and manage multiple priorities.