Fraud Risk Analyst (Investigation) - Risk Management

Group Company:

Designation: Fraud Risk Analyst (700356)

Office Location:

Years of experience: 3 to 4

Salary Range: INR to (Annual)

Position description:

Job Purpose

The role would be directly responsible for investigation of suspected fraud cases

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Key Responsibilities

• To be directly responsible for end to end investigation at pre-issuance, pre-claim, claim stage and referred by multiple departments like Claims, Compliance, Legal, Sales Support, Finance, HR, Complaints Cell, Policy Servicing, underwriting etc.
• To be responsible for monitoring and controlling the work done by the Risk verification/investigation agencies regularly
• To develop and publish regular MIS on various activities like investigation TAT, fraud trends
• To impart training to Employees, Advisors & Channel Partners on Fraud – Risk Management

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Specific Authorities (Financial & Non Financial): NA                                                                                                                                                                                                                                                                                                                                                          ***************************

Key Performance Indicators

·         Overall A/E to be maintained below 100% by timely detection of fraud

·         TAT of verifications to be within 7 days' time;

·         Investigations expenses to be within budget without any variance

·         Identification of fraud claims & ensuring fraud loss savings by procuring evidences

·         Zero errors in Investigations & actions

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Job Requirements

Qualifications: Graduate/ PG Diploma, Addition certifcation preferred: Certified Fraud Examiner / Certification in Forensic Accounting

Basic Skills: Understanding of systems, process and products

Functional Competencies

• Risk Prevention and Detection
• Risk framework
• Analytical skills

Behavioral Competencies

• Growth through differentiation
• Collaboration
• Execution Excellence

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Key Interactions

Internal

Ops/ Underwriting/Claim:

Regular feedback/update on adverse cases findings to take necessary action

External

Industry:

Regular interaction with Industry people to identify the declined/cancelled/death claims policies negative matches

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Additional Responsibilities:

Reporting Team

• Position Reporting To: Lead - Fraud Investigation (700359)
• Reporting Department: FCU (700037)

Educational qualifications preferred

• Category:
• Field specialization:
• Degree:
• Academic score:
• Institution tier:

Required Certification/s:

Required Training/s:

Required work experience

• Industry: Insurance/ Banks/ NBFC's
• Role: Risk Control
• Years of experience: to

Key Performance Indicators:

Required Competencies:

Required Knowledge:

Required Skills:

Required abilities

• Physical:
• Other:

Work Environment Details:

Specific requirements

• Travel:
• Vehicle:
• Work Permit:

Other details

• Pay Rate:
• Contract Types:
• Time Constraints:
• Compliance Related:
• Union Affiliation:

• Experience: 2+ years
• Seniority: Mid Level
• Education: Bachelor's degree required
• Languages: English