Team Member-Governance & Control Environment-SUPPORT SERVICES-Fraud Risk Management Unit

Role Name: Fraud Governance and Prevention

1. To design, govern, and oversee the Bank’s Fraud Risk Management framework, ensuring:

• strong enterprise-wide fraud governance and risk culture
• Regulatory compliance (RBI Fraud Directions, AML/KYC, etc.)
• proactive identification and mitigation of fraud risks for Commercial Banking

The role operates as a Second Line of Defence (SLOD) providing independent oversight, challenge, and governance to business and fraud operations.

2. Key Responsibilities

A. Fraud Governance & Framework Design

• Develop and maintain enterprise-wide Fraud Risk Management (FRM) framework, policies, and standards
• Ensure alignment with: 
  • RBI Fraud Risk Management Directions (2024)
  • enterprise risk framework
• Define fraud risk appetite, thresholds, and tolerance limits

B. Fraud Risk Identification & Assessment

• Lead fraud risk assessments across products, channels, and processes
• Identify: 
  • emerging fraud typologies (digital, payments, lending, social engineering)
  • internal vs external fraud risks
• Build frameworks for: 
  • Early Warning Signals (EWS)
  • Red Flagging of Accounts (RFA)

C. Policy, Controls & SLOD Challenge

• Develop and review: 
  • anti-fraud policies
  • control standards
  • process controls across lifecycle
• Validate control design and operating effectiveness
• Provide independent challenge to FLOD (business/operations)

D. Fraud Intelligence

• Provide insights for: 
  • policy changes
  • control enhancement
  • strategic interventions

E. Incident Oversight & Root Cause Analysis

• Oversee significant fraud incidents at enterprise level
• Ensure: 
  • root cause analysis
  • systemic remediation
  • closure tracking

F. Governance, Committees & Board Reporting

• Present fraud risk insights to: 
  • Risk Committee / Board
  • Senior management forums
• Track: 
  • fraud losses
  • system effectiveness
  • control gaps

G. Third-Party & Ecosystem Risk

• Oversee fraud risks arising from: 
  • vendors
  • fintech partners
  • outsourcing arrangements
• Ensure adequate third-party controls

3. Key Deliverables / Outcomes

• Ensuring adherence to Fraud Governance Framework including FRM Policy
• Oversight on Effective EWS / RFA system
• Reduced fraud loss ratios & improved detection rates
• Strong regulatory compliance track record
• Board-level visibility of fraud risk exposure
• Measurable control effectiveness improvement

4. Skills & Capabilities

Functional

• Fraud risk management (payments, lending, digital, identity)
• Risk frameworks (eg Operational Risk / COSO / Basel)
• Regulatory knowledge (RBI fraud directions, AML, KYC)

Analytical

• Data analytics / fraud pattern recognition
• Scenario thinking & risk assessment

Leadership

• Stakeholder management across business, tech, ops
• Ability to challenge constructively (SLOD independence)

Strategic

• Ability to balance: 
  • fraud risk mitigation
  • business growth
  • customer experience
  • Business / Product teams (FLOD)
  • Fraud operations
  • Compliance / Legal
  • Technology / Data

5. Reporting Structure 

Reports to Head Fraud Risk Governance, Prevention and Investigation

Works with: 

• Business / Product teams (FLOD)
  • Fraud operations
  • Compliance / Legal
  • Technology / Data