RCU & FI Dy. Manager

Position: RCU & FI Dy. Manager/ Manager

Work Location – Navi Mumbai
Work experience – 8-10 years of experience in RCU & FI Management in any financial institution covering Semi-urban/Rural areas.
Educational Qualification – Minimum Graduate (full time).

Detail Job Profile

1. Fraud Identification & Control (Pre-approval)

• Agency Empanelment: Empanelment of a reputed agency with relevant experience and expertise to handle the background verification, fraud detection, and investigation thereafter.
• Entering into proper SLA’s with the Agencies
• Ensure Sampling Effectiveness for controlling application fraud
• Verification of documents: Verification of documents submitted along with loan applications through empanelled agencies to ensure fraud at entry-level.
• Background / Profile Checks: Checks on the profile of customer /various agencies through market intelligence/feedback

1. Fraud Investigation

• Initiate action against those involved: Based on the intensity of fraud, penalizing the customer/channel/ associate involved in committing the fraud.
• Take corrective action and setting deterrents, and recovering the loss to the organization.
• Logically conclude the cases with modus operandi & highlighting the gaps and proposing corrective measures

1. Fraud Prevention & Control (Ongoing basis – post-approval)

• Seeding and mystery shopping: Initiating seeding and mystery shopping.
• Agency Audits: Regular audits at the Agencies (Sales/Processing/ Verification/Valuation) to check if the laid down process is followed.
• Random cros checks on the report submitted by the verification Agencies for Authenticity of information submitted
• Asset verifications: random asset verifications to check post disbursement loan utilization
• Actual sourcing detection/ Channel monitoring: Random checks on sourcing channels to identify freelancer’s involvement, banned channels involvement, etc.

1. Other Initiatives

• Ensure Agency payouts & other related RCU & FI costs are kept within budgeted provisions
• Ensure standardized RCU & FI processes are followed across various locations regarding sampling, timely visits, and proper and timely reporting thereof.
• Initiate new initiatives to curb fraud losses across the organization.
• Initiate initiatives to improvise and make Loans origination systems more effective to catch frauds
• Initiate initiatives to develop fraud rules in the Dedupe mechanism followed in the Loans origination systems to ensure the second tier of application fraud detection
• Interact with IT, Risk, Credit, Legal and Business teams as necessary to develop the required output on the RCU front

Candidate Profile & Skills:

• • Excellent networking with Industry and Law enforcement agencies to share negative information and obtain help in case of recoveries and fraud cases
  • Good written/ oral communication and presentation skills
  • Excellent interpersonal skills and leadership qualities with an ability to carry the team along
  • Ability to effectively interact with the senior leadership team across functions
  • Strike the right balance between demands from the functions and RCU& FI deliverables.