Role Name: Fraud Governance and Prevention

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

* robust 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 arrangemen

📌 Team Member-Governance (Mumbai)
🏢 Kotak
📍 Mumbai