Description
Role Name: Fraud Governance and Prevention
- 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 arrangem

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