Overview
Key Responsibilities – Fraud Risk Management Committee (FRMC) and Related Activities:
Pre- and Post-Meeting Coordination – FRMC:
– Review and analyze investigation reports, supporting evidence, letters, and documents received from various departments.
– Draft the Agenda Note for the Committee meetings.
– Prepare and document the Minutes of Meeting (MoM).
– Circulate the MoM and Action Taken Report (ATR) to relevant stakeholders.
– Follow up with concerned departments to ensure timely closure of ATRs.
– Maintain comprehensive MIS and proper documentation of all FRMC meetings and related activities.
Fraud Reporting:
– Handle internal and external fraud reporting requirements in a timely and accurate manner.
Board Meeting Support:
– Prepare Agenda Notes and supporting material for Board-level discussions related to fraud risk management.
Incident Analysis and Risk Mitigation:
– Conduct root cause analysis of reported fraud incidents to identify systemic gaps.
– Propose and recommend corrective and preventive actions to mitigate similar risks in the future.
Regulatory and Internal Audit Compliance:
– Respond to queries and requirements from the RBI, RBS, RCSA, and other internal or external audit bodies.