Skills : Fraud Detection Expertise, Analytical Skills, Regulatory Knowledge, Risk Assessment, Investigative Skills, Communication Skills, Problem-Solving, Attention to Detail, Collaboration, Technical Proficiency
Description :
Profile : Fraud Risk Compliance Manager
Location: Mumbai
Job Type: Full-time
Key Responsibilities:
- Merchant Onboarding Analysis:
- Conduct thorough due diligence on new merchants to identify potential fraud risks.
- Review and verify merchant documentation, business models, and creditworthiness.
- Implement and refine onboarding procedures to enhance fraud detection and prevention.
- Transaction Monitoring:
- Develop and maintain transaction monitoring systems to detect suspicious activities.
- Analyze transaction patterns and behaviors to identify potential fraud.
- Investigate flagged transactions and take appropriate action, including reporting and escalating issues as necessary.
- Risk Assessment and Management:
- Perform regular risk assessments to identify vulnerabilities in merchant onboarding and transaction processes.
- Develop and implement fraud prevention strategies and controls.
- Monitor the effectiveness of fraud prevention measures and make adjustments as needed.
- Compliance and Regulatory Adherence:
- Ensure compliance with all relevant regulations, including those set by the Reserve Bank of India (RBI) and other regulatory bodies.
- Stay updated with changes in laws and regulations affecting fraud risk management.
- Prepare and submit reports to regulatory authorities as required.
- Collaboration and Training:
- Work closely with the IT, Legal, and Operations teams to enhance fraud detection systems.
- Provide training and guidance to staff on fraud detection and compliance best practices.
- Coordinate with external partners and stakeholders to stay abreast of industry trends and threats.
- Reporting and Documentation:
- Maintain comprehensive records of fraud investigations, including findings and actions taken.
- Prepare regular reports for senior management on fraud risks and mitigation efforts.
- Develop and update policies and procedures related to fraud risk management.
Qualifications:
- Bachelor’s degree in Finance, Business Administration, or a related field. A master’s degree or relevant certification (e.g., CFE, CAMS) is preferred or optional
- Minimum of 3 years of experience in fraud risk management, compliance, or a related field.
- Strong knowledge of regulatory requirements and industry standards related to fraud prevention and compliance.
- Experience with transaction monitoring systems and fraud detection tools.
- Excellent analytical and problem-solving skills.
- Strong communication and interpersonal skills.
- Ability to work independently and as part of a team.
- High level of integrity and attention to detail.
