Amit Raj
DVP - Fraud Control Unit
New Delhi
Summary
Professional Summary
Performance-driven Vice President with 15+ years of experience aligning systems with business requirements, policies, and regulatory requirements. Passionate about applying excellent organization and communication skills to manage and lead teams. Results-oriented individual well-versed in interfacing and consulting on business processes to drive results based on sound overall business judgment.
Overview
15
15
years of professional experience
Work History
Deputy Vice President – Fraud Control Unit
Fusion Finance
New Delhi
04.2024 - Current
- Led Pan-India fraud risk strategy across MFI & MSME verticals, driving policy design, detection frameworks, and preventive controls to minimise fraud exposure.
- Built and deployed Early Warning Systems (EWS) and advanced fraud detection frameworks, enabling proactive risk identification and control strengthening.
- Owned Fraud Risk Management Policy lifecycle, ensuring full alignment with RBI regulations, IRAR requirements, and evolving compliance mandates.
- Established SOP-driven fraud governance (investigation, classification, branch protocols) and implemented tech solutions (EDAS, FCM Portal, AI bot calling) to enhance efficiency and standardisation.
- Acted as central SPOC for Internal Audit, RBI inspections (IRAR), and regulatory reporting (FMRs), ensuring timely closure of audit findings and zero-deficiency compliance with complete documentation.
- Delivered continuous fraud analytics, dashboards, and board-level reporting (ACB, BRMC, SCBMF), translating insights into actionable risk mitigation strategies.
- Partnered with Business, Compliance, Legal, IT, and HR to embed a strong fraud risk culture and ensure enterprise-wide policy adherence.
State/Zonal Head – Internal Audit
Fusion Finance
05.2016 - 03.2024
- Oversaw end-to-end compliance with policies and procedures across all Eastern Zone states (including Northeast) covering Microfinance, MSME, and Fraud Control functions.
- Ensured 100% quarterly audit coverage of all branches through individual and group audits, with compliance closures completed in the same cycle.
- Ensured timely filing of FMR, RBI compliance submissions, and grievance redressals within regulatory deadlines.
- Drove team capability through structured training programs and proactive engagement, keeping attrition under control.
- Led and steered individual and portfolio-level fraud investigations in bigger frauds, calibrating approach based on risk severity and situational assessment.
- Conducted area feasibility studies across Bihar, Odisha, Jharkhand, Tamil Nadu, Pondicherry, West Bengal, and Assam to assess operational viability and expansion readiness.
- Led initial organisational structure setup across all identified states, establishing teams, processes, and reporting frameworks from the ground up.
- Coordinated with internal/external stakeholders for timely closure of audits and ensure alignment with regulatory guidelines.
Regional Credit Manager
SREI BNP Paribas
02.2015 - 05.2016
- Managed credit appraisals across Delhi NCR, UP, and Uttarakhand for Construction Equipment, Tractors, and DG Sets.
- Maintained healthy portfolio through proactive delinquency management and early identification of non-starters.
- Enforced credit risk controls ensuring strict policy adherence and minimisation of portfolio risk.
- Consistently delivered on KRAs — TAT, Early Delinquency (ED), and Portfolio Management — backed by MIS analysis, RCA, and Corrective Action Plans.
Area Credit Manager
Cholamandalam Finance
01.2015 - 02.2015
- Managed credit appraisals for Construction Equipment and Commercial Vehicles across Haryana, ensuring policy-compliant sanctioning and risk assessment.
- Evaluated credit proposals through qualitative and quantitative analysis, maintaining adherence to underwriting standards.
Deputy Credit Manager
Magma Fincorp
04.2011 - 12.2014
- Analyzed and appraised/approved credit proposals for Commercial Vehicles and Construction Equipment (New & Used).
- Maintained HO reporting via Network Excel, Viability reports, and Deviation & Delinquency trackers.
- Conducted regular market visits covering dealers, partner channels and customers.
- Conducted qualitative and quantitative risk evaluation and mitigation on loan proposals from the sales team.
- Managed RCU agency and valuator appointments across Haryana.
Education
PGDM - Marketing & Finance
Asia Pacific Institute of Management
01-2011
Bachelor in Business Administration -
Guru Nanak Dev University
01-2009
Skills
- Risk Assessment/Governance: Fraud Risk Management Fraud Policy development Internal Audit Controls
- Fraud Detection: Fraud Control Strategies Early Warning Signals
- Analytics & Board Reporting: SCBMF Fraud Trend analysis Authoring of RCA’s along with RAP
- Regulatory Compliance: FMR IRAR
- Process improvement
- Decision-making
- Strategic planning
- Team leadership
- Negotiation and persuasion
- Critical thinking
Accomplishments
- Established the Fraud Control Unit from ground up, scaling operations to a 100+ member team and institutionalizing fraud governance processes.
- Built MSME Audit framework from scratch, enabling structured risk oversight across a previously unaudited vertical.
- Ensured 100% timely and compliant submission of all regulatory reports, maintaining zero instances of delay/non-compliance.
- Spearheaded AI bot calling project for ascertaining the fraudulent aspects- Included E2E co-ordination with vendors/Script creation/Data analysis and final outcome management. This led to manpower wastage reduction by 15-20%.
- Designed and implemented EDAS and FCM Portal, resulting in significant reduction investigation turnaround time (TAT) to 30 days and improved efficiency in regulatory reporting.
- Satisfactory closure of IRAR observations with 100% supporting documentation, strengthening audit readiness and fraud control framework.
- Recognized with multiple ESOP awards at Fusion Finance for consistent high performance and value creation.
- Appointed Nodal Officer of East Zone to handle customer grievances and served as a POSH Committee member.
Timeline
Deputy Vice President – Fraud Control Unit
Fusion Finance
04.2024 - Current
State/Zonal Head – Internal Audit
Fusion Finance
05.2016 - 03.2024
Regional Credit Manager
SREI BNP Paribas
02.2015 - 05.2016
Area Credit Manager
Cholamandalam Finance
01.2015 - 02.2015
Deputy Credit Manager
Magma Fincorp
04.2011 - 12.2014
PGDM - Marketing & Finance
Asia Pacific Institute of Management
Bachelor in Business Administration -
Guru Nanak Dev University
DECLARATION
I hereby declare that all the above information given by me is correct & true to the best of my knowledge.
Date: -
Place: -
(Amit Raj)