Vice President - Fraud Prevention

Gurugram, India

Job Description

Role Purpose

To lead Fraud Prevention team to minimize Application frauds with optimum customer experience, optimal Vendor Cost & best resource utilization.

Role Accountability

Application/Transaction Fraud Management:

1. Analyze fraud loss trends, evolve fraud mitigation strategy, implement the revised changes through well defined processes, people and system Infrastructure
2. Manage Pan-India Application Fraud Screening/Sampling, Hunter, VKYC Checker due-diligence and with team of National Screening / EDD Leads, Zonal Fraud Managers, Process Leads, Team Leads, Fraud SME analysts and vendors to ensure timely and accurate Fraud Screening, Sampling, Hunter & VKYC Checker Decisioning for prospective & existing customers.
3. Provide thought leadership, identify, evaluate and implement best practices across org. for Fraud Detection & Mitigation and leverage industry connect for competition benchmarking
4. Ensure adequate System, People and Vendor Network Infrastructure in place for Fraud Prevention.
5. Connect closely with the Retail & BANCA Sales Heads, Regional directors and Credit Policy Head to share fraud trends and sourcing defects, suggest process and policy changes for fraud mitigation and declines reduction for enhanced accounts throughout.

Process Excellence & Regulatory Compliance:

1. Ensure regulatory compliance on KYC Due-diligence.
2. Ensure continuous process enhancement and automation to improve productivity, reduce Fraud Loss & Vendor Cost.
3. Carry out fraud risk assessments to identify areas vulnerable to fraud, and actively engage with stakeholders to fine-tune fraud monitoring and preventive controls.
4. Conduct BPMS Process Mapping, Risk Control Self Assessment(RCSA), Ensure Adherence to Fraud Policy, Process SOP, conduct declines & other process reviews.

Projects, Robotics & Automation and Data Analytics:

1. Drive critical projects through cross functional synergy and liaison with IT & relevant stakeholders for driving the improvement of processes & automation for increasing productivity, delivering customer experience, fraud mitigation, reducing TAT etc.
2.



Utilize robust analytics and data driven strategies to build and optimize fraud rules, with best Fraud Catch rate & Lower False positives delivering optimum customer experience
3. Lead and drive standardization, automation and consolidation through re-engineering and process improvement initiatives for Fraud Risk Management
4. Monitor fraud trends and alert decisioning and feed back the learnings/observations into the system and train people for optimal decisioning
5. Lead and manage UAT Testing, PVT Validation in IT Projects - related to Fraud Pre-acquisition.

Cost, Vendor & Stakeholder Management:

1. Plan, track & maintain cost budget & spends for vendors, perform periodic review of cost drivers and suggest corrective actions to optimize cost and ensure optimum cost utilization.
2. Devise and implement alternate data validation strategies and conduct price and vendor discovery for reduced cost, enhanced validation and process compliance.
3. Ensure timely vendor onboarding, risk assessment and cost provisioning and billing of Pre Acq Vendors and ensure Cost Save Vs MOU.
4. Connect with internal stakeholders of Sales, Workforce Effectiveness, Operations, Customer Service & Credit Policy team to share Fraud trends / learnings & seek support to mitigate fraud risk through people & process improvement.
5. Continuously engage with Industry peers from networks (VISA, Mastercard, Amex, NPCI), Fraud Monitoring Solution Providers & vendors, Banks, NBFCs, Fintech's, Merchants, Payment Gateways to get updates & understand the latest technologies & fraud trends and evaluate for implementation in company.

Customer Experience & Fraud Prevention Awareness:

1. Design and implement in-house fraud awareness campaigns across company for customer facing teams to ensure secure and reliable application and transaction ecosystem.
2.



Ensure exchange of learnings with sales, operations, marketing and customer service teams on fraud loss incident and process Improvement opportunities to deliver enhanced customer experience and fraud mitigation
3. Analyze vulnerabilities in sales, operations and customer service processes and propose enhancements/modifications to plug the gaps and have a robust fraud prevention infrastructure and controls in place

Manage Internal & Process Audits:

1. Manage Internal Audits and Ensure Satisfactory ratings through Process & Policy Compliance.
2. Ensure data completeness and accuracy for Internal & External Audits. Drive Timely closures of Audit Observations through system/process enhancements.

Measures of Success

1. Ensure application fraud loss within MOU. Strive to be best in the industry on Fraud Loss to Sourcing ratio.
2. Productivity, fraud loss & cost target achievement as per agreed MOU
3. Completion of Critical Projects on Digitization & Automation as per agreed objectives
4. Alternate Data Validation Penetration %
5. Fraud Catch Rate & False Positive improvements
6. 100% coverage on process training and certification for the team
7. Process Adherence as per MOU
8. Satisfactory Audit Ratings for Internal & External Audits.

Technical Skills / Experience / Certifications

1. Sound understanding of the cards business & its drivers
2. Wing to wing knowledge of Fraud Management processes, systems and KPIs
3. Knowledge of FRM detection, monitoring, investigation & reporting processes
4. Domain expertise and industry knowhow on fraud prevention and detection tools, trends and best practices
5. Understanding of emerging digital trends in Credit Card / Fintech and payments domain

Competencies critical to the role

1. Stakeholder Management
2. Analytical Ability and Problem Solving
3. Process Orientation
4. Quality Orientation
5. Continuous Learning & Innovation
6. Verbal and Written communication
7. People Management
8. Vendor Management Skills

Qualification

Post-Graduate / Graduate degree with a strong quantitative emphasis

Preferred Industry

Banking / Financial Services /Consulting/Fraud Strategy/Ecommerce

📌 Vice President - Fraud Prevention (Gurugram)
🏢 Talent Hired-the Job Store
📍 Gurugram