Senior Manager - Fraud Control Unit

Hiring Manager : Aby Eapen

Team : Risk

About Navi
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.

Founders: Sachin Bansal & Ankit Agarwal 

Know what makes you a “Navi_ite” :  

1. Perseverance, Passion and Commitment

• Passionate about Navi's mission and vision
• Demonstrates dedication, perseverance and high ownership
• Goes above & 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, prioritises tasks and achieves higher standards 

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

Key Responsibilities :

• Understanding and driving prevention of loss from various fraud modes (Transaction Fraud, Application, Account Takeover, Transaction Fraud, 1st and 3rd Party Fraud, Bust Out 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 Audit, Collections, Customer Service, Finance, Credit, Risk, 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
• Conduct investigations of customer frauds, including Root Cause Analysis and suggest measures to strengthen existing processes and systems
• Work with Product & Tech teams to build & deploy fraud rules in production; 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 the management.
• Ensure fraud policies, processes and systems are aligned with changing regulatory requirements (from RBI, SEBI, IRDAI, NPCI).
• Reporting :
  - Coordinating with various units such as Collections, Operations, Business, Legal, Finance, to collect information and prepare regulatory reports (FMR-1 FMR2 FMR-3 quarterly and annual review, etc)
  - 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 the Senior Management, Board Committees and the Board of Directors.
• Share emerging trends on fraud, based on market intel 
• Be responsible for the strategic build-out of the fraud charter for the Group, including:
  - Identifying and setting roadmaps for fraud focus areas
  - Capacity planning and team build to help achieve the stated objectives of the charter

Requirements:

• Ability to communicate effectively with stakeholders and senior management, including Board Committee members, both verbally and in written presentations.
• Sound understanding of retail loans, health insurance, payments (at least strong in one of these) and the fraud trends and controls to prevent such frauds in these products.