Fraud Control & Claims Investigator Professional

June 2012 – Till Date – HDFC Ergo General Insurance, Mumbai, Assistant Vice President – Fraud Control & Investigations (erstwhile Risk & Loss Mitigation Unit) – Western & Southern India.\r\n\r\nGrowth Path: \r\nSenior Manager – Western Region \r\nJune ’12 – March’16\r\nAssistant Vice President – Western & Southern Region \r\nApril ’16 – till date\r\n\r\nSignificant Accomplishments: \r\nConceptualized and developed “Case Investigation Management Application (CIMA)“to record and track investigation of claims.\r\nReward of excellence for achieving Highest Investigations Success Ratio for 2015-2016.\r\nReward of excellence for initiative on driving Road Safety Awareness Campaign with Mumbai Police for 2016-2017.\r\nConsistently rated 1 in appraisal process, for years 2015, 2016, 2017, 2019 and rated 2 for years 2013, 2014, 2018.\r\n\r\nResponsibilities:\r\nHeading the Fraud Investigation, Loss Minimization, Claims Investigation and Claims Settlement for: Motor Theft & Recovery, Motor Accident Own Damage Claims, Motor Third Party Claims / Bodily Injury (Injury and Death) Claims, Fire Claims, Marine Investigation & Recovery, Property Miscellaneous Claims, Indemnity Claims, Credit & Debit Card Claims, Workmen Compensation Claims and Personal Accident Claims.\r\nDeveloping operational model & shaping strategic agenda for Fraud Risk Management, mitigating fraud risk, assisting businesses by implementing \'best in class\' tools & processes to minimize fraud losses.\r\nReviewing susceptible and vulnerable areas across various functions within the organization which are prone to fraud risk including Sales Processes, Branch Processes, Head Office Processes, Finance Areas (Travel bills, reimbursement claims), HR processes.\r\nEnsuring timely conduct of investigations on various allegations including whistle blower complaints.\r\nDriving standardization, automation & consolidation through re-engineering and process improvement initiatives for Fraud Risk Management Function.\r\nEstablishing collaborative relationship with regulators, peer banks, insurance companies and fraud risk industry forums to help detect & mitigate fraud.\r\nProviding support in conduct of proceedings of the Fraud Risk Management Committee and implementing governance actions finalized in/by the Committee.\r\nEncouraging & promoting an active training and learning environment to facilitate excellence in risk management, risk awareness & behaviour.\r\nConducting awareness programmes in the organization through training, workshops and other proactive initiatives for continuous education and improvement of employees on compliance policies.\r\n\r\nMay 10 – May 2012 - Intarvo Technologies, DGM – Accounts Receivable (Credit, Billing, Collections) \r\n\r\nSignificant Accomplishments:\r\nExamine collection status on a weekly basis and keep track on status of outstanding receivables, underlying processes for billing and revenue recognition.\r\nVerify all billing data to ensure existence, completeness and accuracy of revenues.\r\nPerformed reconciliation of accounts with customers and reviewed credit evaluation/credit limit review for existing customers on monthly basis.\r\n\r\nJul’07 – Nov’09 - G E Capital, Mumbai, Regional Collections Manager & Compliance Champion – West & South (Credit Cards) India.\r\n\r\nSignificant Accomplishments:\r\nDirect reportees 5 and indirect 135.\r\nSpearheaded the entire gamut of Collections (SBI Cards) across the Western Region including Maharashtra, Goa, Gujarat, Karnataka and Madhya Pradesh.\r\nEnsured 60+ products flow at 47% in the year 2009 as compared to SBI OP of 57% and 49% in the year 2008.\r\nReduced the loss rate and maintained at 18% as compared to SBI at 22%.\r\nAchieved highest recovery rate as a zone at 0.59% in 2008.\r\nEnsured vendor consolidation from 52 to 38 vendors.\r\nDesigned Vendor Engagement Project to reduce the vendor billing TAT from 90 days to 45 days.\r\nAcquired lowest cost of collection as a zone at 15%.\r\nPlayed a key role as a member of Project Team, which developed software on Billing, Issuance of Identity Cards to feet on street and Collection Management System for Credit Cards.\r\n