Job Summary:
The Fraud Control Manager plays a pivotal role in safeguarding the Bank's Asset Products by leading the (more proactive than reactive) identification, assessment, mitigation, and monitoring of fraud risks across the bank's lending portfolio.
This role covers a wide range of asset-side products including BNPL, credit cards, unsecured and secured personal loans, portfolio acquisition, corporate employee loans, etc. The successful candidate will act as a second-line expert, partnering with product, credit operations, technology, banking operations, and compliance teams to implement a comprehensive fraud risk management framework across the entire credit lifecycle.
Scope of Responsibilities:
- Fraud Strategy & Risk Framework - Develop and maintain a fraud risk strategy specifically tailored to lending products.
- Establish and regularly review fraud risk appetite, KRIs/KPIs, and control libraries aligned to each product and channel.
- Ensure all lending products undergo a comprehensive fraud risk assessment (FRA) prior to launch or modification.
- Fraud Typology Oversight - Lead the identification and mitigation of key asset-side fraud risks, including, but not limited to:
- Application fraud (first-party, third-party)
- Synthetic identity fraud
- Income and employment misrepresentation
- Straw borrower and collusion risk
- Bust-out schemes
- Account takeover post-origination
- Loan stacking and fraud rings
- Control Design & Optimization - Design end-to-end fraud controls across the lending lifecycle: application, underwriting, disbursement, servicing, collections, and charge-off.
- Collaborate with credit and tech teams to enhance identity verification, device intelligence, document validation, and fraud scoring tools at the point of onboarding and underwriting.
- Continuously evaluate model- and rule-based detection logic and partner with data science teams to improve fraud detection precision.
- Conduct root cause analysis for high-loss cases or emerging fraud typologies.
- Drive loss forecasting and scenario stress testing tied to fraud incidents.
- Support real-time and post-event fraud monitoring activities using internal systems and external data sources (e.g., credit bureaus, consortium alerts).
- Stakeholder Engagement. Act as the key liaison between the fraud risk function and:
- Product managers (for lending features and launches)
- Underwriting policy teams
- Technology and operations teams
- Compliance and internal audit, among others
- Prepare fraud dashboards, issue tracking, and reports for risk committees and regulators as needed.
- Maintain and enforce fraud-related policies, standards, and procedures related to lending products.
- Support the Head of Credit Operations & Fraud Control on strategic tasks and special projects.
Qualifications:
Educational Background
- Bachelor's degree in business, Finance, Economics, STEM, or a related field.
Experience
- 7 years of experience in Fraud Risk, preferably in banking, lending, or fintech.
- Demonstrated experience working with retail or commercial lending portfolios, preferably within a bank or fintech environment. (e.g., personal loans, salary loans, BNPL, credit cards).
- Proven experience in credit assessment and risk evaluation.
- Previous team leadership or mentoring experience is an advantage.
Technical Competencies
- Deep knowledge of lending fraud schemes and fraud lifecycle management.
- Hands-on experience with fraud technology tools (e.g., Early Warning, Socure, Alloy, ID Analytics, Experian Precise ID, LexisNexis, Tookitaki, Flagright, ComplyAdvantage, etc.).
- Strong analytical skills; ability to interpret trends and optimize control effectiveness.
- Familiarity with fraud-related regulatory requirements and compliance frameworks.
- Proficiency in MS Office (Excel, Word, PowerPoint), above average working knowledge of SQL, Python, R.
- Excellent communication and stakeholder engagement skills.
Behavioral Competencies
- Ability to work effectively and efficiently in a fast-paced environment.
- Exhibits initiative, ownership and accountability at all times.
- Effective leadership, coaching, and decision-making capabilities.
- High attention to detail and strong analytical skills.
- Excellent communication and stakeholder management.
- Demonstrates integrity, objectivity, and a high level of risk awareness.
- Must meet regulatory qualifications for officer-level positions and have no disqualifications per applicable regulations.
