Viral Turakhia

Leading implementation of Fraud Risk Management Framework, Defining of Policies & Standard Operating Procedures/ Service Level Agreements. Fraud Nodal Officer with RBI. Integration of fraud system (Feedzai) capable of intelligent machine learning (Predictive Modelling & Neural Network Models) for core businesses like Issuance of Pre-paid Wallet, Payment bank, Business correspondent, Agent and Merchant acquiring. Setting up Innovative platform for merchant address confirmation & verification based of social data crawling, behavioural & Psychometric user profile footprints. Setting up processes for seamless and digitalized consumer and merchant on-boarding through e-KYC & c-KYC. Setting up Credit bureau for automation of KYC validation and Credit application score+. Modelling of variables & attributes to set daily/fortnightly/monthly merchant limits thereby controlling/mitigating risk. Setting of Anti Money Laundering system with PEP & Risk Gradation as per regulatory/compliance guidelines. Setting of chargeback & dispute management system for issuance & acquiring portfolios (open & close loop portfolios). Ensuring a proactive monitoring of emerging fraud trends/vectors globally as well as domestically & analysing of Modus Operandi with root-cause analysis. Sharing the trends with internal stakeholders, external shareholders & Regulators. Recommendations for modification of existing fraud alerts & Rules, & process development based on industry trend, fraud trends, customer’s complaints, dispute trends, feedback & analysis of the same. Acting as track lead and publishing weekly, fortnightly and monthly reports to central leadership and apex committees.

Developing from stretch, strategic fraud risk management for the emerging card network for merchant bank partner’s ranging from policies, processes, manuals & systems. Strategic Consulting in developing Cards, Merchant Acquiring acceptance & E-Commerce . UAT and Implementation of Fraud Risk Tools; Fraud Management Training Workshops; Anti Money Laundering; Due Diligence & Audits; Compliance & Regulatory Reporting. Essayed a stellar role in ensuring that the mandatory SAFE & TC40 compliance is processed on cardholder disputes as per Visa International / MasterCard operating regulations Fraud Management Training Workshops & compliance on AML / CFT / KYC. Evaluation of Merchant payment hold & release of funds. Hot listing of card. Reducing fraud losses and controlling fraud, credit & data security risk for the various portfolios which includes Cards, Merchant Acquiring and E-Commerce business. Due Diligence & Audits; Compliance & Regulatory Reporting Portfolio Management. Part of newly launched EMV project and also successfully completed the testing on EMV cards from PCI DSS & PA DSS for Mobile POS. Monitoring the SAFE Rejects and suspended transactions and curing them.

Supervision & Analysing calls routed through PRM Fraud Management system (Proactive Risk Manager) for detecting, mitigating & controlling frauds from issuance & acquiring portfolio. Daily analysis of referrals from various branches & business teams prior enrolling the merchants in the system. Acting a Maker for authenticating & Validating KYC & additional documents as per banks discretion. Retrieval of information from existing Acquirers & procurements of market feedback for validations prior on-boarding. Provide tactical analysis to the business team by initiating Seeding/Discreet activities for identifying cash points & terminating as per RBI Grievances cell. Early Warning Signals (EWS) and Red Flagged Accounts (RFA). Maintaining & Controlling Fraud to Sales ratio identifying merchants with high FTS, indulging in Money Laundering & functional Frauds. Impartment of Trainings to various DST/DSA and branches with respects to handling critical data & purging of the same. Drafting & preparing training materials with Best Risk Practices for Key and E-com merchants. Filing FRAUD MONITORING RETURNS (FMR 1, 2, 3, and 4). Filing complaints with LEA and taking cases ahead for insurance. Reporting to schemes in MOST & NMAS (VMTS), MATCH & Central Fraud Repository Database. Handling escalations captioned to Service delivery & Priority Desks cases – (MD). Filing Complaints with Law Enforcement Agencies. Coordinate with law enforcement agencies for gathering market up-dates on new market fraud trends & follow-up on write-off Frauds loss cases. Suggesting Penal measures for fraudulent borrowers Generating MIS for the senior management on regular basis.

Development of Risk management process for all product lines includes Home Loans, Auto Loans, Personal Loans, Consumer Finance and Cash Card. Managing the lending process, including the initial application and review, underwriting and the disbursal or denial. 100% screening & Sampling of Mortgage application based on scientific triggers. Working on system for Fraud identification, monitoring, investigating, reporting in order to minimize fraud losses and ensure timely recovery of fraud related claims. Conducting end to end fraud document & profile investigation to reach out to fraud perpetrator. Cross checking the authenticity & quality of RCU agency reports and vendor management DMA & DME pre empanelment market checks. Weeding out negative elements (application /DSEs/companies) from the system Audit & training of all the associated agencies viz., Direct Marketing Associates, Connectors , Collection agencies, Courier agencies etc and report sharing with Business teams to align the process & system Liaison with law enforcement agencies & assisting for filing the complaints. Instrumental in fraud recovery. Reduction in POF & increase in ROI. Conducting Audit & Compliance Vigil checks like FOS performance, receipt tracking & validating Billing. Generation of MIS & reporting the future trends & corrective measures.

Analyse applicants' financial status, credit, and property evaluations to determine feasibility of granting loans. 100% screening & Sampling of Mortgage application based on scientific triggers. Writing comprehensive credit report. Obtaining and compiling copies of loan applicants' credit histories, corporate financial statements, and other financial information. Reviewing loan agreements to ensure that they are complete and accurate according to policy. Monitor periodic credit reviews & personally visit the largest customers. Review of portfolio with respect to delinquency/losses/fraud of the portfolio. Designing Re-Structuring plan for consumers who are unable to pay back the equated loan installment and loan. Arranging of Title Search / Document verifications. Filing U/s 138, Civil Suites, and Money Suites through co-ordination with legal team. Interacting with Branch Managers and Cluster Manager from risk and loss control perspective. Filing & functioning & amending SARFAESI Act – 2002. Preparation of write – off notes. Attending NHB meetings.