Job Description

Career Opportunities

Position

Senior Manager - Fraud Prevention & Control

No. of Positions

1

Department

Internal Assurance

Function

Actuary

Reporting to

VP - Internal Assurance

Band

4B

Location

Gurgaon (HO)

Job Summary:

Objective of this role is to mitigate the fraud risk through implementation of organizational Anti Fraud Policy. Incumbent will be responsible for devising procedures to detect frauds through effectively managing, and design and deployment of data analytics procedures, identifying suspicious trends and triggers, getting the suspicious cases investigated and driving internal consequence management and legal action through Law enforcement agencies. Incumbent would also be responsible for strengthening control environment through awareness and supporting management in strengthening controls related to fraud risk.

Key Responsibilities:

• Conduct Fraud risk assessment of processes with high inherent Fraud Risk.
• Devise data analytics procedures to identify suspected fraud transactions and business misconduct.
• Plan and implement the deployment of such detection procedures basis the assigned criticality and frequency.
• Investigate the suspicious cases investigated and closed in a time bound manner along with internal teams or external investigation agencies.
• Conduct Forensic investigation of financial and Corporate frauds to establish the allegation adequately supported by incrementing evidences and facts.
• Report established fraud instances to management with root cause, recommendations, corrective and preventive actions.
• Regular update on the fraud detection procedures and outcome to be shared internally.
• Prepare and present an update on the significant outcomes to management and contribute towards the update to Risk / Audit Committee of the Board.
• Follow up with management for implementation of agreed corrective and preventive action plans.

Measures of Success:

• Timely completion of investigations and finalization of investigation reports.
• Minimizing fraud loss by effective investigation and recovery on reported frauds.
• 100% adherence to the annual plan for testing.
• Timely submission of updates to internal leaders, management and Risk Committee.
• Timely implementation of recommendations to mitigate frauds.and timely corrective action basis identified curacy and TAT of MIS on red flag related research and reports

Eligibility of internal candidates:

As per Max Life HR IJP Policy.

Desired experience:

• Qualified in Fraud Risk related mitigation certifications (e.g. LLB, CFE, etc.) with a post qualification experience of minimum 4 years.
• Additional expertise on data analytics would be added advantage.
• Exposure with Insurance or Banking industry is preferred.

Knowledge and skills required:

Excellent communication and presentation skills

High on collaborating and influential skills

Strong Process/ controls orientation

Strong analytical ability.

Career Opportunities

Position

Senior Manager - Fraud Prevention & Control

No. of Positions

1

Department

Internal Assurance

Function

Actuary

Reporting to

VP - Internal Assurance

Band

4B

Location

Gurgaon (HO)

Job Summary:

Objective of this role is to mitigate the fraud risk through implementation of organizational Anti Fraud Policy. Incumbent will be responsible for devising procedures to detect frauds through effectively managing, and design and deployment of data analytics procedures, identifying suspicious trends and triggers, getting the suspicious cases investigated and driving internal consequence management and legal action through Law enforcement agencies. Incumbent would also be responsible for strengthening control environment through awareness and supporting management in strengthening controls related to fraud risk.

Key Responsibilities:

• Conduct Fraud risk assessment of processes with high inherent Fraud Risk.
• Devise data analytics procedures to identify suspected fraud transactions and business misconduct.
• Plan and implement the deployment of such detection procedures basis the assigned criticality and frequency.
• Investigate the suspicious cases investigated and closed in a time bound manner along with internal teams or external investigation agencies.
• Conduct Forensic investigation of financial and Corporate frauds to establish the allegation adequately supported by incrementing evidences and facts.
• Report established fraud instances to management with root cause, recommendations, corrective and preventive actions.
• Regular update on the fraud detection procedures and outcome to be shared internally.
• Prepare and present an update on the significant outcomes to management and contribute towards the update to Risk / Audit Committee of the Board.
• Follow up with management for implementation of agreed corrective and preventive action plans.

Measures of Success:

• Timely completion of investigations and finalization of investigation reports.
• Minimizing fraud loss by effective investigation and recovery on reported frauds.
• 100% adherence to the annual plan for testing.
• Timely submission of updates to internal leaders, management and Risk Committee.
• Timely implementation of recommendations to mitigate frauds.and timely corrective action basis identified curacy and TAT of MIS on red flag related research and reports

Eligibility of internal candidates:

As per Max Life HR IJP Policy.

Desired experience:

• Qualified in Fraud Risk related mitigation certifications (e.g. LLB, CFE, etc.) with a post qualification experience of minimum 4 years.
• Additional expertise on data analytics would be added advantage.
• Exposure with Insurance or Banking industry is preferred.

Knowledge and skills required:

Excellent communication and presentation skills

High on collaborating and influential skills

Strong Process/ controls orientation

Strong analytical ability.

Max Life Insurance