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
📍 Mumbai