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 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

📌 Team Member-Governance & Control Environment-SUPPORT SERVICES-Fraud Risk Management Unit (Mumbai)
🏢 Kotak Mahindra Bank
📍 Mumbai