Lead - Fraud Control Unit

Magma General Insurance Limited; Mumbai; On-site; INR 4,000,000 - 7,000,000; Full time

Job summary

Magma General Insurance Limited is seeking a senior professional to lead fraud control investigations across the organization in Mumbai. You will manage investigations involving employees, intermediaries, customers, and organized fraud networks, and strengthen fraud governance with proactive controls and intelligence.

You will drive law enforcement engagement, handle sensitive cases, lead recoveries and asset tracing, and provide fraud risk oversight across Claims, Underwriting, Distribution,

Qualifications

• 12+ years of experience in Fraud Control, Investigations or Vigilance.
• Proven track record in complex investigations, recoveries, and stakeholder management.

Responsibilities

• Lead investigations involving employees, intermediaries, customers, and organized fraud networks.
• Strengthen fraud governance through proactive controls, intelligence, and strategic interventions.
• Drive law enforcement engagement, including police liaisoning, FIR filing, and prosecution support.
• Handle sensitive cases, branch unrest situations, and reputational risk events.
• Lead recoveries, asset tracing, and fraud loss mitigation initiatives.
• Provide fraud risk oversight across Claims, Underwriting, Distribution, Operations, and Finance.

Skills

Fraud control & investigations

Vigilance

Stakeholder management

General insurance domain

Job description

• Lead investigations involving employees, intermediaries, customers, and organized fraud networks.
• Strengthen fraud governance through proactive controls, intelligence, and strategic interventions.
• Drive law enforcement engagement, including police liaisoning, FIR filing, and prosecution support.
• Handle sensitive cases, branch unrest situations, and reputational risk events.
• Lead recoveries, asset tracing, and fraud loss mitigation initiatives.
• Provide fraud risk oversight across Claims, Underwriting, Distribution, Operations, and Finance.

Preferred Skills

• 12+ years of experience in Fraud Control, Investigations or Vigilance, Strong General Insurance domain expertise.
• Proven track record in complex investigations, recoveries, and stakeholder management.