Hiring Manager : Pranav Magadi
Team : Fraud and Risk Strategy
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 and beyond by taking on additional responsibilities
2.Obsession with high quality results
• 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
3.Resilience and Adaptability
• Adapts quickly to new roles, responsibilities, and changing circumstances, showing resilience and agility
Key Responsibilities :
The role is expected to lead the Fraud Investigations team, which is within the Fraud Risk & Strategy team. Fraud Investigations as team has the following responsibilities -
- Monitoring Fraud control towers (RCA for alerts, monitoring metrics)
- Investigation of incidents of suspicious activity reported by Customer Support / Collections / Business / Product
- Monthly hind-sighting (PL non-starters), ad-hoc hind-sighting (e.g. communities, incidents)
- Maintain database of suspicious & confirmed frauds
- Monitoring and classification of RFIs
- Due Diligence for Suspicious Transactions
The responsibilities for the Team Lead identified below are to be read in conjunction with this understanding:
1. Team Management:
- Recruit, hire, and train fraud investigators.
- Assign tasks and projects to team members based on their skills and experience.
- Address team conflicts and issues promptly.
2. Investigation Oversight:
- Review and analyze investigations conducted by the team.
- Ensure investigations are conducted thoroughly and in compliance with established procedures and standards (and applicable regulatory guidelines).
- Identify areas for improvement in investigative techniques and processes.
- Identify trends and patterns in fraud cases to inform prevention strategies.
3. Performance Tracking and Reporting:
- Track team performance against key metrics, such as case closure rates, recovery rates, resolution efficiency, and regulatory compliance.
- Build MIS / Dashboard to fulfill internal reporting requirements to stakeholders, senior management, the Board, etc.
- Prepare regulatory reports as needed, such as for RBI, SEBI, IRDAI, FIU, and for financial reporting.
4. Stakeholder Management:
- Liaise with internal and external stakeholders listed below to gather information and coordinate investigations -
- Customer Support
- Collections
- Product
- Legal & Compliance
- Vigilance
- Credit Intelligence
- Communicate investigation findings and recommendations effectively.
Requirements:
- Bachelor’s Degree from a tier-I university (Engineering / Science / Commerce / CA / Law)
- 3-5 years of experience in fraud investigation, preferably in the financial services industry.
- Proven experience managing a team of investigators.
- Strong analytical and problem-solving skills.
- Excellent written and verbal communication skills.
- Knowledge of fraud prevention and detection techniques.
- Familiarity with relevant fraud regulations and reporting requirements.
- Certified Fraud Examiner (CFE) certification would be good to have.