Senior Manager

Aditya Birla Insulators; New Delhi; On-site; INR 800,000 - 1,500,000; Full time

Job summary

Aditya Birla Insulators is seeking a Fraud Control & Compliance role to assist the Senior Manager in managing fraud control operations within Operations/Accounts. You will help identify compliance risks, analyze processes and ensure adherence to regulatory, organizational and internal policies.

The role involves coordinating across verticals to strengthen controls and streamline procedures. The incumbent will contribute to post-facto policy reviews, mystery shopping checks, and MIS reporting to

Responsibilities

• Identify, analyse and report compliance risks in processes related to the assigned verticals in Operations.
• Post Facto analyse sample policies and recommend corrective actions.
• Mystery Shopping checks for fraud detection across Pan-India operations.
• Maintain MIS and provide reports to Senior Management as required.

Job description

Job Purpose

Responsible for assisting the Senior Manager in managing the Fraud control operations and taking initiatives as per the SLA pertaining to the assigned verticals in Operations / Accounts departments to ensure smooth and timely resolution of issues in line with regulatory,
organizational and compliance expectations. Also to identify and analyse compliance risk in the operational activities to contribute to the improvement and strengthen BSLI s operation
functions processes and procedures.

Job Context / Job Challenges

Responsible for assisting the Senior Manager in managing the Fraud control operations and taking initiatives as per the SLA pertaining to the assigned verticals in Operations / Accounts departments to ensure smooth and timely resolution of issues in line with regulatory, organizational and compliance expectations. Also to identify and analyse compliance risk in the operational activities to contribute to the improvement and strengthen BSLI s operation functions processes and procedures. Job Challenges: Managing a significant increase in Frauds, particularly in fake claims due to high repudiations Overcoming constraints in terms of the accuracy of data available in our systems While investigating/analysing various cases, there is no consolidated window containing all information: different systems need to be accessed across the organization Constraints in terms of receiving timely qualitative responses on cases under investigation from agents/ channel partners and other functions Ensuring adequate mind space especially among sales force agents on adherence to regulatory/organisational compliance requirements in order to create a fine balance between quantity quality of business Constraints in tracing the concerned sales persons as they leave the system bef ore the complaints are made Ensuring that the Company keeps pace with a fast
evolving regulatory environment competitive market practices.

Key Result Areas

• KRA1 Identify, analyse and report Compliancerelated risks in processes related to the assigned verticals in Operations
  1. Assist in evaluating and analyzing all the procedures,
  policies and process of New Business, Underwriting and
  Claims Function. 2. Identify, evaluate and report the
  compliance risks within the operation function verticals
  assigned 3. Assisting in identifying deficiencies in
  policies, process and procedures related to assigned
  operational entities and recommend corrective actions to
  the Management. 4. Monitor the work carried out by the
  assigned operational entities. 5. Assist in providing
  recommendations to Strengthen streamline processes
  of operation functions 6. Organize, coordinate and
  structure compliance related decentralized controls 7.
  Assist in implementation of preventive actions in the
  processes and procedures.
• KRA2 Post Facto analyse and report on the sample policies and recommend corrective actions 1. Conduct checks on sample policies received by operational entities and analyze them, preparation of a report leading to process improvement or strengthening
  process wherever required 2. Assist in providing
  recommendations to Strengthen streamline processes
  of operation functions 3. Organize, coordinate and
  structure compliance related decentralized controls 4.
  Assist in implementation of corrective actions in the
  processes and procedures
• KRA3 Mystery Shopping Checks for identifying and mitigating fraudulent activities 1. Conduct Mystery shopping at the empanelled medical
  centers and other BSLI branches for detecting fraudulent
  activities (PAN India) pertaining to the operational entities
  2. Conduct System checks thereby placing controls to
  mitigate fraudulent activities. 3. Black Box Audit to be
  conducted on a Monthly basis to check the quality of
  Business underwritten by Aura and provide a report and
  recommendation to the department. 4. Analyzing the
  entire claims data of the country, surrender/partial
  Withdrawal cases and coming up with relevant patterns in
  order to make stringent processes to curb the same. 5.
  Assisting in Open and Discreet verification to be
  conducted from time to time in discussion of Underwriting
  and Claims team and ensure the reports are circulated as
  per the desired timelines.
• KRA4 Reporting MIS 1. Assisting in maintaining proper MIS for each and
  providing necessary information as per the requirement.
  2. Assisting in providing Reports and recommendations to
  Senior s and Management as per the requirement.