Associate Manager II - Fraud Risk & Strategy (UPI & Rewards))

Navi is one of the fastest-growing financial services companies in India providing Personal & Home Loans, UPI, Insurance, Mutual Funds, and Gold. Navi's mission is to deliver digital-first financial products that are simple, accessible, and affordable. Drawing on our in-house AI/ML capabilities, technology, and product expertise, Navi is dedicated to building delightful customer experiences.

• Passionate about Navi’s mission and vision

• Demonstrates dedication, perseverance and high ownership

• Goes above and beyond by taking on additional responsibilities

• Consistently creates value for the customers and stakeholders through high quality outcomes

• Ensuring excellence in all aspects of work

• Efficiently manages time, prioritizes tasks, and achieves higher standards

• Adapts quickly to new roles, responsibilities, and changing circumstances, showing resilience and agility

The role is expected to focus on the Fraud Risk charter for the UPI and related businesses of the Navi Group, while being part of the Group Fraud Risk & Strategy team.

Role Responsibilities:
● Understanding and driving prevention of losses from various fraud modes (Transaction Fraud, Application Gaps, Account Takeover, 1st and 3rd Party Fraud).
● Liaise with Analytics teams to help build out data models needed for fraud analytics.
○ Conducting independent analytics of portfolio behavior to identify fraud trends / patterns.
○ Building appropriate alerting / reporting for emerging fraud attacks.
○ Design and maintain fraud risk dashboards, identify high-risk areas & parameters, and resolve the
same with relevant teams.
● Monitoring :
○ Work towards automation of fraud identification and closure processes.
○ Obtaining and monitoring reports from Business, Product, Audit, Customer Service, Finance,
Payment Ops, and Customer Complaints to identify red flags/ early warning signals of fraud.
○ Conduct periodic reviews of key processes and systems to identify gaps in terms of fraud and
operational risk, and suggest controls to address the same.
○ Review of samples of cases to check for suspected frauds.
● Working with the Fraud Investigations team to study customer frauds, including Root Cause Analysis and
suggest measures to strengthen existing processes and systems.
● Work with Product & Tech teams to build & deploy fraud control / prevention rules; and also to review
adequacy of controls to mitigate frauds at the design stage.
● Ensure closure of action points emanating from various investigations and present the summary of new
controls and process improvements to Senior Management.
● Ensure fraud policies, processes and systems are aligned with changing NPCI (and any other applicable)
regulatory requirements.
● Reporting :
○ Coordinating with various units such as Product, Information Security, Operations, Business, Legal,
Finance, to collect information and prepare regulatory reports.
○ Coordination with Compliance / Regulators (as applicable) for all regulatory / statutory reports / data
submission in a timely manner with accuracy.
○ Providing required MIS and management reports to Senior Management, Board Committees and the
Board of Directors.
● Share emerging trends on fraud, based on market intel.

Requirements:
● Bachelor’s Degree in Engineering / Science with focus on Computer Science / Mathematics / Finance / Economics
● Analytical skills including Excel, SQL, Tableau, Python are a must. Experience in data analytics is preferred
● Experience in digital financial services is preferred, with hands-on collaboration with Tech & Product teams.
● Sound understanding of UPI and the payments industry, and fraud trends and controls to prevent such transaction frauds.
● Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.