Overview
This is regarding job opening for RCU Head role with A leading NBFC in Mumbai.
JD:-
Policy & processes:
– Fraud Risk Management Framework: Designing and executing comprehensive framework aligned with organizational goals, industry standards, and regulatory requirements.
– Fraud Risk Management Policy: Developing and enforcing fraud risk policy (in line with the regulatory framework)
– Procedures: Develop procedures, and controls and support in implementation in the field.
– Fraud Risk Assessment (FRA) Process: Identifying areas vulnerable to fraud, analysing potential fraud risks, and developing frameworks for assessment.
Prevention:
– Fraud Risk Assessment (FRA): Identifying areas vulnerable to fraud, analysing potential fraud risks, and developing frameworks for ongoing risk assessment.
– To put a standardized Fraud Risk Assessment Process in place.
– Conduct fraud risk assessments for all the segments across products and introducing this process for all upcoming products to identify vulnerabilities and develop mitigation plans to address identified risks
– Basis the FRA, designing of all prevention activities such as screening, use of APIs, Fraud BRE etc.
– Verification standard: (a) designing of verification standards (b) create buy in with Underwriting, Risk & Policy team for implementation
Screening & sampling:
– Design a play book of triggers and red flags
– Time to time revisiting the process to check the efficiency of the same; regular review of market trends to add new triggers
Detection
– Develop a playbook for investigation, periodically review with the team and keep updating the needful
– Implementation of new deterrents through investigations and follow up action Internal & Confidential
Control, Governance & Regulatory conduct:
– Ensure all regulatory & statutory requirements are fulfilled within the stipulated time frame for the unit.
– Ensure 100% process and regulatory compliance for the unit.
– Proactively review and identify gaps on polices and processes implement and ensure timely escalation of issues with comprehensive solutions.
– Address and provide timely and effective solution on breaches or exceptions highlighted by Quality Assurance, Internal Audit, Credit Risk Review, Regulatory Reviews or other processes.
– Streamlining the compliance related processes, RCSA and managing the internal audit at satisfactory levels. Continuously improve operational efficiency and effectiveness Tools