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Team Member-Fraud Reporting-SUPPORT SERVICES-Fraud Risk Management Unit

Team Member-Fraud Reporting-SUPPORT SERVICES-Fraud Risk Management Unit

ConfidentialBengaluru / Bangalore, India
9 days ago
Job description

Job Description - Fraud reporting.

DEPARTMENT : Fraud Risk Management (FRM) - Fraud Reporting Desk

Job Profile : Review, Reporting and closure of regulatory returns.

Role : Deputy Manager / Manager ( M2 / M3)

Reporting : Vice President

Job Overview :

Definition of fraud :

A bank fraud is a deliberate act of omission or commission by any person carried out in the course of a banking transaction or in the books of account maintained manually or under computer system in banks, resulting into wrongful gain to any person for a temporary period or otherwise, with or without any monetary loss to the bank.

Regulatory obligation on the Bank :

  • Reporting of Frauds perpetrated in the Bank (primarily) and subsidiaries and affiliates / joint ventures not regulated by RBI.
  • Provide update on Developments in the fraud reported
  • Closure of Frauds
  • Theft, Burglary, Dacoity and Bank Robberies reporting- Immediately on occurrence
  • Senior Management / SCBMF / Board / ACB / IBA reporting - Quarter / Half yearly / Annual review of frauds
  • Review of Potential loss and provisioning adequately.

Job Description :

  • Review of Unusual events, Investigation Reports in the role of 2nd Line of defense
  • Feedback to 1

    • st

    Line on review of reports and seek relevant clarification / justification.

  • Collation of necessary information by following up with Risk Containment Unit (RCU) / Business / Recovery teams in relation to fraud reporting.
  • Reporting of Fraud in RBI prescribed template
  • Maintenance of Fraud tracker and Master file
  • Analysis of fraud reported accounts in Core Banking System, monitor the recovery / disputed settlement / write off / Provision.
  • Potential loss due to fraud - Co-ordinate with Risk Containment Unit / Business / Finance team to ensure adequate provisioning for the loss.
  • Appraise to Senior Management / Special committee / Board / ACB on frauds in defined frequency.
  • Timely updates in relation frauds in the RBI system.
  • Recommend and obtain approval from Senior management recommending for closure frauds after due regulatory process is followed.
  • Closure of frauds in RBI system.
  • Drive projects on automation in relation to fraud reporting.
  • Handle the scheduled regulatory return submission and other inter-department submission.
  • Co-ordination with RCU / Business / Recovery teams for updates on LEA / SFIO reporting
  • Regular Dash Board related in relation to frauds to Business Head.
  • Theft, Burglary, Dacoity and Bank Robberies reporting to Regulator- Immediately on occurrence.
  • Regularly update / amend faStandard Operating Procedures (MoPP).

    • Skill requirement :

  • Well versed in usage of Core Banking system, Finacle, Core NX, Vision +
  • Well versed in MS office (Word and Excel)
  • Knowledge of KRAMAN / SFDC / Compass software

    • Eligibility : As HR IJP policy eligibility criteria

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    Risk Management • Bengaluru / Bangalore, India