ABHINAW KUMAR
Bengaluru,
Summary
Results-driven Fraud Risk Strategist with extensive experience in the financial services space, specializing in fraud prevention, risk management, and compliance. Proven track record in developing and implementing fraud risk frameworks, leveraging data analytics,monitoring systems, and cross-functional collaboration to mitigate financial crime.
Overview
11
11
years of professional experience
Work History
Fraud Strategy Head - Chief Vigilance Officer
Slice(North East Small Finance Bank)
07.2022 - Current
- Strategy and ops roadmap building for the central fraud risk,AML and vigilance team across all the lines of businesses(lending and payments) tackling types of fraud ranging from onboarding,KYC,transaction,ATO's,first/third party,money mules identification,chargebacks to internal employee frauds.
- Built and validated the the fraud and vigilance policy with RBI
- Developed and utilized behavioral profiles for customers to detect anomalies and potential fraud by working with product,analytics, data science and engineering
- Implemented advanced transaction monitoring systems to detect suspicious activities in real-time.
- Built a board appreciated EWS(Early warning signals) framework
- Ensure timely and accurate reporting of suspicious/fraudulent activities to regulatory authorities through FMRs',RBI SSM's and DAKSH.
- Present relevant metrics and be the point of contact for senior leadership,Board committees(SCBMF,RMCB,ACB),internal audits and RBI audits.
- Stakeholder management with legal, internal audit, compliance,customer service and collections to tackle fraud holistically
- Conduct fraud war rooms and workshops to dissect frauds and build controls around the same pattern.
- Built a case manager for the fraud investigations team to aid investigations
- PRD fraud sign offs before a new product goes live
- Liaison with government agencies(MHA,DOT) to register and ingest data from portals such as the MNRL,NCCRP to improve the efficacy of fraud management systems
- Conduct gap analysis/bug bounty programs to ensure fraud controls are working as intended
Sr. Manager-Fraud Risk Strategy
Khatabook
04.2021 - 07.2022
- Set the fraud risk roadmap for the company
- Build preemptive risk mitigation solutions for the new product launches within the Khatabook ecosystem
- Own the CTS/FTS metric and coordinate with payment gateways to ensure chargeback disputes and reconciliation is streamlined and transparent
- Build and design in house tools for risk operations to aid investigations
- Implemented automated fraud detection systems, enhancing efficiency in identifying high-risk transactions.
Manager- Fraud & Abuse
Noon.com
04.2019 - 04.2021
- Manage a team of 25 through 5 team leads within fraud risk comprising of Payments fraud, Chargeback Management, Buyer Abuse, Resellers & Coupon/Promo Abuse
- Lead investigations by collaborating with acquiring banks/local law enforcement agencies in the Middle East
- Conducted deep-dive fraud analytics, identifying emerging threats and recommending risk controls
- Create rules on Cybersource (VISA) ensuring maximum order acceptance and minimal false positives
- Developed risk metrics to measure current performance for chargeback (CTS/FTS), Ops performance, CyberSource Performance, Fraud Complaints for risk analysts to take corrective actions in case of any deviations from their KPI's
- Trend analysis on fraud pattern/trends to develop risk rules
Investigations Specialist-Manager,Fraud Risk
Amazon.com
07.2014 - 03.2019
- Foundation of fraud management was built here with a rigorous 6 months training program
- Identified fraudulent patterns like unauthorized card usage, account takeovers, buyer seller collusion/triangulation and identity theft
- Leveraged a combination of manual and automated tools to obtain information
- Managed Random Quality audits for Bangalore site for Tier 2 investigations
- Proactively reported out team’s performance against goals and action plans taken
- Worked across multiple marketplaces including North America, Europe and India
- Managed recruiting & rewarded strong performers to develop a strong team
- Identified areas of process improvement, highlighted areas for creation of new metrics & participated in root cause analysis
- Responsible for creation of a road-map/development plan based on improvement areas and tracked adherence
Education
Bachelor of Engineering -
Manipal Institute of Technology
Skills
- Fraud Risk Strategy & Prevention
- Transaction Monitoring & AML Compliance
- Data Analytics and data science in Fraud Detection
- Digital Payments & Fintech Security
- Regulatory Compliance
- Leadership & Cross-Functional Collaboration
- Policy making
- Vigilance
- Building fraud management products
Projects
- Built an in-house FRM rule engine resulting in a precision and recall improvement of 12% and 8% respectively
- Built an in-house case manager reducing the AHT of investigating a case by 50%
- Built an in-house AML sanctions service and replaced a vendor that led to 90% cost savings
- Collaborated with global tech and business teams facilitating development of Machine Learning models to identify the heuristics which investigators use when evaluating an order by analyzing all cases processed with AHT less than 1 minute and encode them as cases that could be auto-actioned which improved the TAT;resulted in a saving of USD1.5M/year
Timeline
Fraud Strategy Head - Chief Vigilance Officer
Slice(North East Small Finance Bank)
07.2022 - Current
Sr. Manager-Fraud Risk Strategy
Khatabook
04.2021 - 07.2022
Manager- Fraud & Abuse
Noon.com
04.2019 - 04.2021
Investigations Specialist-Manager,Fraud Risk
Amazon.com
07.2014 - 03.2019
Bachelor of Engineering -
Manipal Institute of Technology
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