Fraud Risk Manager

About LXME:

LXME is Indias first financial platform curated exclusively for women. We are on a mission to empower millions of women to take control of their financial futures. Backed by factual insights, expert advice, and a vibrant community, LXME makes investing, saving, budgeting, and spending easy and accessible. Join a high-growth fintech startup thats revolutionizing how women engage with money a platform built by women, for women.

About the Role:

We are looking for a Fraud Risk Management professional with deep expertise in UPI payments and digital transaction risk. The candidate will be responsible for designing, implementing, and continuously enhancing fraud prevention frameworks across UPI journeys while ensuring a seamless customer experience. The role requires strong analytical capabilities, hands-on experience with fraud monitoring tools, knowledge of NPCI guidelines, and the ability to collaborate with Product, Engineering, Operations, Compliance, and Banking partners.

Key Responsibilities:

• Fraud Strategy & Risk Management Define and execute fraud risk management strategies for UPI payment products.
• Design fraud controls across onboarding, device binding, registration, transaction authorization, and post-transaction monitoring.
• Develop risk rules, thresholds, and decisioning frameworks to prevent fraud while minimizing false positives.
• Monitor emerging fraud trends, mule account activities, account takeovers (ATO), social engineering scams, and synthetic identity risks.
• UPI Fraud Prevention Build and enhance fraud detection models for: UPI Registration Fraud Device Change Fraud Account Takeover (ATO) SIM Swap Fraud UPI Collect Request Abuse Merchant Fraud Refund & Chargeback Abuse First-party and Third-party Fraud Analyze transaction patterns and identify suspicious activities across P2P and P2M transactions.
• Define velocity checks, behavioral risk indicators, and transaction monitoring frameworks.
• Risk Analytics & Monitoring Create dashboards and KPIs for fraud monitoring.
• Perform root cause analysis on fraud incidents and recommend preventive measures.
• Monitor fraud rates, approval rates, false positives, customer friction, and loss metrics.
• Leverage SQL, data analytics tools, and visualization platforms for fraud investigations.
• Compliance & Regulatory Management Ensure adherence to NPCI, RBI, and banking partner guidelines related to fraud risk management.
• Support internal audits, compliance reviews, and regulatory reporting.
• Maintain documentation of fraud controls, risk assessments, and incident management processes.
• Cross-functional Collaboration Work closely with Product teams to embed fraud controls into customer journeys.
• Partner with Engineering teams to implement risk engines, rules, and monitoring systems. Collaborate with Operations and Customer Support teams for fraud investigations and resolution.
• Coordinate with sponsor banks, NPCI, and ecosystem partners on fraud-related escalations.

Required Qualifications:

• Bachelor's degree in Engineering, Finance, Statistics, Mathematics, or a related field.
• 58 years of experience in Fraud Risk Management, preferably in UPI, Payments, Fintech, Banking, or Digital Lending.
• Strong understanding of: UPI ecosystem NPCI guidelines Payment fraud typologies Risk management frameworks.
• Experience working with fraud monitoring and rule-engine platforms.
• Strong analytical and problem-solving skills.
• Proficiency in SQL and data analysis.
• (Good to have) Create daily tracking dashboard and analysis experience.