About our client:

Our client is a top non-banking financial company in India focused on rural and semi-urban areas, offering vehicle loans, fixed deposits, and SME financing. It serves over 9 million customers through a large network of more than 1,380 offices across the country.

Job Purpose:

To lead and operationalize a comprehensive Fraud Risk Management Framework in line with IRDAI guidelines by supporting fraud detection, investigation, reporting, governance, and regulatory compliance & ensuring effective coordination across FCU, IDD, Legal, HR, Business & other support functions and external stakeholders. To ensure & expedite arrangement of complete & accurate documentation for speedy settlement of Fraud / Fidelity / Crime related insurance claim.

Key Responsibilities:

Fraud Case Management & Monitoring

o Ensure daily collation of fraud cases from all channels
o Coordination with stakeholders to collect required data in defined templates
o Ensure timely population of fraud templates as per defined TAT
o Supervise fraud classification as per guidelines
o Ensure sanity checks and validation of cases within defined timelines

Fraud Investigation & Case Handling

o Oversee end-to-end fraud investigations conducted by FCU
o Ensure quality, consistency, and closure timelines of investigations
o Guide teams in complex/high-value fraud cases

Disciplinary & Legal Process Management

o Ensure structured input to Legal/HR for Show Cause Notices
o Oversee end-to-end Show Cause Notice process, including:
o Compilation of responses from employees, customers, and third parties
o Ensure proper documentation for legal defensibility
o Coordinate with Legal team for filing of Police FIRs

Fraud Monitoring Committee (FMC) Governance

o Facilitate Fraud Monitoring Committee (FMC) meetings
o Ensure:
o Timely calling of FMC
o Preparation of case updates & action taken reports




o Circulation of minutes and decisions
o Track closure of FMC action points

Regulatory Reporting & External Coordination

o Ensure compliance with regulatory reporting requirements of RBI & IRDAI and related query management
o Oversee coordination with Internal compliance teams, Regulators and auditors

Insurance Company & Channel Coordination

o Ensure timely reporting of fraud cases to insurance companies / intermediary

o Oversee fraud governance across:

Insurance Companies / Intermediary
Business & Support Functions
Strengthen fraud control mechanisms across distribution ecosystem

o Coordinate with internal & external stakeholders to ensure availability of complete & accurate documentation required for Fraud / Fidelity / Crime related insurance claims
o Review documentation before submission for insurance claim
o Coordinate with all relevant (internal & external) stakeholders & insurance companies to expedite speedy & correct settlement of Fraud / Fidelity / Crime related insurance claims

Fraud Risk Framework & Preventive Controls

o Lead design and periodic update of:

Red Flag Indicators (RFI) framework

Fraud Risk Management (FRM) Policy
Ensure continuous improvement based on:

Emerging fraud trends

Internal case learnings
o Establish and supervise Insurance related Fraud Governance in coordination with Fraud Control Unit (FCU), Cross-functional coordination (IDD, Legal, HR, Business & Support functions)
o Define Roles, responsibilities, escalation matrix and ensure maker-checker controls and audit readiness

Technology & Data Analytics for Fraud Detection

o Drive implementation of:

Fraud analytics tools
Case management systems
Dashboard reporting (aging, trends, categories)

Promote data-driven fraud detection

Training & Awareness

o Drive fraud awareness across Business & Support functions through regular Awareness & Training programs
o Build a zero-tolerance fraud culture

📌 Fraud Control Manager (India)
🏢 Talent Socio
📍 India