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

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