ABOUT THE COMPANY: Leading microfinance institution in India.

ROLE OVERVIEW:

The Fraud Risk Manager is a critical role responsible for safeguarding the institution’s financial assets, customer integrity, and regulatory standing. The incumbent will design and operationalise the institution’s end-to-end fraud risk management framework — spanning strategy formulation, technology implementation, cross-functional collaboration, root cause analytics, regulatory adherence, and field-level enforcement. This role requires an individual with deep domain expertise in financial crime prevention, strong stakeholder management skills, and a data-driven approach to risk mitigation.

KEY RESPONSIBILITIES:

• Design and own the institution’s Fraud Risk Management Policy and Framework in alignment with RBI/regulatory guidelines and industry best practices.
• Formulate proactive and reactive fraud control strategies tailored to the institution’s portfolio profile — including MFI group lending, individual loans, and digital/assisted journeys.
• Partner with Product, Operations, and Technology teams to embed fraud controls at every stage of the customer lifecycle — onboarding, KYC, credit appraisal, disbursement, and repayment.
• Evaluate, procure, and implement fraud detection tools, including rule-based engines, machine learning-based anomaly detection, bureau-based fraud check APIs (CIBIL, Hunter, etc.), and device intelligence platforms.
• Lead structured RCA exercises for all confirmed fraud cases above defined threshold; prepare detailed investigation reports with timelines, control breach identification, and accountability mapping.
• Derive systemic insights from RCA outputs to recommend and track preventive control improvements; close the loop between investigation outcomes and policy updates.
• Facilitate cross-learning sessions with regional risk teams and branch networks based on fraud case studies and emerging typologies.
• Ensure timely and accurate filing of all fraud-related regulatory submissions.
• Prepare and present the Fraud Risk Report to senior management, the Risk Management Committee (RMC), and the Board as per the governance calendar.
• Oversee third-party RCU vendors/outsourced verification agencies where applicable; manage SLAs, quality audits, and contractual compliance.

REQUIRED SKILLS & COMPETENCIES:

Technical Skills:

• Deep knowledge of fraud typologies in MFI/NBFC/Banking — identity fraud, document forgery, staff connivance, cyber fraud.
• Familiarity with RBI Master Directions on Frauds, FAIR reporting framework, and SRO-MFI guidelines.
• Hands-on experience with fraud detection platforms, bureau APIs (CRIF, CIBIL, Experian), and LOS integration.

Leadership & Behavioural Competencies:

• Strong cross-functional influence — ability to drive alignment across Business, Credit, Operations, Technology, and Compliance.
• Structured analytical thinking with the ability to distil complex investigations into actionable insights.
• High integrity and objectivity; ability to escalate findings and recommendations independent of business pressure.
• Effective communicator — capable of presenting to Board, RMC, and regulators with clarity and confidence.

QUALIFICATIONS & EXPERIENCE:

• Graduate/Post-Graduate in Finance, Economics, Statistics, or related discipline; MBA/CA/CFA/FRM preferred.
• Relevant experience of 8 years in housing loan/ home loan/ LAP/ Mortgage Loan.
• Prior experience managing or building an RCU function is highly desirable.
• Experience handling RBI inspections and regulatory correspondence on fraud matters preferred.
• Certifications in fraud examination (CFE — ACFE) or financial crime compliance are an added advantage.