Description :

Job Title: Fraud Risk Compliance Manager
Location: Mumbai
Job Type: Full-time
Experience: 2-5 years
Budget: 25% hike on current salary
Mandatory Background: Payment Aggregator experience required

Job Summary:

The Fraud Risk Compliance Manager will be responsible for ensuring that the organization’s merchant onboarding and transaction monitoring processes are fully compliant with internal policies and external regulations. This role involves analyzing potential fraud risks, implementing fraud prevention strategies, and ensuring adherence to industry standards. The manager will collaborate with multiple departments to maintain a secure and compliant environment for all financial transactions.

Key Responsibilities:

Merchant Onboarding Analysis:

• Conduct thorough due diligence on new merchants to identify potential fraud risks.
• Review and verify merchant documentation, business models, and creditworthiness.
• Implement and enhance onboarding procedures to detect and prevent fraud.

Transaction Monitoring:

• Develop and maintain transaction monitoring systems to detect suspicious activities.
• Analyze transaction patterns and behaviors to identify potential fraud.
• Investigate flagged transactions, taking appropriate action including reporting and escalating issues as needed.

Risk Assessment and Management:

• Perform regular risk assessments to identify vulnerabilities in merchant onboarding and transaction processes.
• Develop and implement fraud prevention strategies and controls.
• Monitor the effectiveness of fraud prevention measures and make necessary adjustments.

Compliance and Regulatory Adherence:

• Ensure compliance with all relevant regulations, including those set by the Reserve Bank of India (RBI) and other regulatory bodies.
• Stay updated with changes in laws and regulations affecting fraud risk management.
• Prepare and submit reports to regulatory authorities as required.

Collaboration and Training:

• Work closely with IT, Legal, and Operations teams to enhance fraud detection systems.
• Provide training and guidance to staff on fraud detection and compliance best practices.
• Coordinate with external partners and stakeholders to stay abreast of industry trends and threats.

Reporting and Documentation:

• Maintain comprehensive records of fraud investigations, including findings and actions taken.
• Prepare regular reports for senior management on fraud risks and mitigation efforts.
• Develop and update policies and procedures related to fraud risk management.

Qualifications:

• Education: Bachelor’s degree in Finance, Business Administration, or a related field. A master’s degree or relevant certifications (e.g., CFE, CAMS) is preferred but optional.
• Experience: Minimum of 3 years of experience in fraud risk management, compliance, or a related field.
• Skills and Knowledge:
  • Strong knowledge of regulatory requirements and industry standards related to fraud prevention and compliance.
  • Experience with transaction monitoring systems and fraud detection tools.
  • Excellent analytical and problem-solving skills.
  • Strong communication and interpersonal skills.
  • Ability to work independently and collaboratively as part of a team.
  • High level of integrity and attention to detail.