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