About Department
- Analysing large datasets to identify fraudulent patterns
- Developing and implementing fraud prevention strategies
- Collaborating with cross-functional teams
- Proactive detection of anomalies and frauds
- Use analytics to identify abnormal patterns and create appropriate controls
- Evaluate & deploy new age technology and automation tools
- Deepen focus on training of staff on fraud prevention
- Strong feedback loop to create & improve controls across product, process & journeys
- Strike right balance between customer experience and fraud prevention
About the Role
Key responsibilities and the role demand the following must haves:
Monitoring transactions for suspicious activity, using analytical tools like SQL and Python to analyze data, and creating reports to inform stakeholders and improve prevention, detection & security protocols. The role requires strong analytical, problem-solving, and communication skills to translate complex findings into actionable insights and protect the organization from financial and data-related risks.
1. Fraud Analytics
- Analyze large datasets to detect suspicious activities, identify abnormal patterns, fraud trends, and understand customer behavior.
- Leverage data analytics to identify and predict anomalous or fraudulent behaviour
- Develop insightful dashboards and MIS reports to management
- Monitor fraud incidents, patterns, and KPI or performance indicators.
- Conduct root cause and post-incident analyses support to strengthen controls.
- Support and play key role in maintaining the efficacy of various data marts fraudster mart, CPFIR mart, etc.
2. Rule Writing & Optimization
- Help the unit to design, implement, and continuously fine tune fraud controls
- Monitor and assess rule performance metrics (hit rates, false positives, accuracy)
- Conduct regular reviews to align logic with emerging fraud patterns and business objectives
- Support the units with qualitative inputs to refine, improve and develop incisive rules
3. Strategy & Automation
- Develop and implement data analytics fraud risk strategies for digital banking, card & other payment channels
- Envisage, test and develop dynamic and innovative monitoring and review approaches in collaboration with various FCI units
- Define and automate the entire end-to-end compliance reporting, follow-up and closure (CPFIR, Association etc.) with support from BIU and other stakeholders with adequate checks and controls to ensure timely and accurate reporting
- Partner with business and technology teams to embed data feeds in the product and process design for analytics support
- Work on opportunities to automate manual and time intensive work items with automation & productivity strategies
4. Risk Assessment & Control Effectiveness
- Define and track key risk indicators (KRIs) and performance metrics to monitor fraud exposure.
- Support the team to ensure timely response and closure of audit observations and compliance requirements.
- Putting in place framework to measure the analytics teams - work undertaken, delivery and outcomes for management review
- Provide data in a time-bound manner for reporting to management, regulator, quasi-regulator and other agencies on request
- Structure, plan and provide ongoing and adhoc data and reports to the teams within agreed TAT’s
5. Leadership & Collaboration
- Mentor and lead a team of analysts and rule strategists, fostering a culture of analytical rigor
- Leverage problem-solving and communication skills to translate complex findings into actionable insights
- Keep up with the latest fraud schemes, cyber threats, and emerging fraud detection technologies and tools.
- Recommend solutions and process changes to eliminate the reoccurrence of fraud.
- Work cross-functionally with Business, Operations, Technology, BSG, Compliance, and Product teams.
- Preparation and ownership of the business requirement document (BRD) with Business solutions & IT to ensure on time delivery of projects.
Pre-requisite criteria for the role
- Proficiency in data analysis tools like SQL and Python.
- Excellent analytical and problem-solving skills, strong communication and presentation skills.
- Candidates with prior experience in managing large data sets, analytics & hands on with analytical tools.
- Experience in fraud data analytics, especially in banking or retail, would be preferred.
- Knowledge or experience with data tables and structures of common FRM tools like Clari5, Falcon etc.
- Ability to translate complex findings into crisp but insightful and actionable insights
- Self-drive and ability to manage multiple tasks and work independently or with minimal supervision.
- VP Level: 12+ years of proven experience leading analytics teams
- A keen eye for detail and the ability to spot anomalies in data.
Qualifications:
- Graduates from technical background (Engineering) would be preferred.
- Relevant Certification on fraud risk /analytics /tools will be an advantage
Key Skills:
- Digital Payments knowledge
- Investigation skills
- Analytical bent of mind
- People & social skills
- Managed AI and LLM-powered analytics transformation
- Communication and presentation skills
- Cross functional stakeholder management
- Knowledge and experience with advanced statistical and data analytic tools is a must have.
About Axis
