Arunava Dutta

Founder & Principal Advisor — Aum Oz Finance Consultants  |  Sydney, Australia  

Senior audit and fraud risk leader with extensive experience across global and regional banks — covering internal audit, fraud risk management, credit risk and financial crime. Proven track record in designing and implementing group-wide frameworks, leading complex investigations, and advising senior stakeholders across multiple geographies including APAC and EMEA. Strong expertise in audit quality, staff fraud, credit fraud, payment fraud, policy and governance, card services, identifying risk and opportunity blind spots, and regulatory compliance — with multiple global professional certifications.

  • ACFE Global Advisory Council Member — Association of Certified Fraud Examiners
CORE EXPERTISE
Enterprise Fraud Risk Credit Fraud Payment Fraud Staff & Insider Fraud Internal Audit (IIA IPPF) Financial Crime Audit Culture & Conduct Audit AML / CTF Insiders Risk Framework Complex Investigations Board Advisory & Training Enterprise Policy & Standards Regulatory Compliance Design Line 2 Risk Oversight Digital Transformation Risk Credit Risk Audits Independent Assurance SME & Fintech Advisory Strategic Advisory Emerging Risks
CAREER TIMELINE
Apr 2023 — Present
Standard Chartered Bank · Global

Group Head of Staff Fraud and Fraud Governance

(Corporate, Consumer, Ventures, Support Functions)
  • –Designed group program & ensured compliance to UK legislation — Failure to Prevent Fraud; met external assurance expectations
  • –Established enterprise fraud policy; owned group staff fraud standards and achieved high compliance rate across all markets
  • –Enhanced staff fraud detection capabilities, improving fraud detection accuracy; fortified Group Fraud Governance across all fraud schemes
  • –Augmented second-line oversight and challenge; minimised financial losses; refined compliance and reputational risk; stayed ahead of legislative and regulatory changes
  • –Reviewed enterprise internal fraud investigation reports; directed corrective actions
  • –Mitigated emerging and strategic risks — Insider risk, fraud in Sustainable Finance/ESG, Partnerships, Digital Lending
  • –Refreshed group fraud training including Board Audit Committee; supported Compliance Advisory
Mar 2020 — Mar 2023
Standard Chartered Bank · APAC/EMEA

Director & Group Head, Credit Fraud (WRB)

  • –Developed enterprise control framework for WRB credit fraud; reinforced fraud risk controls; evaluated emerging threats; oversaw data analytics
  • –Implemented strategy and framework for conduct and financial crime compliance; supported Group's strategic direction
  • –Established standards for SME lending fraud, Wealth and Private Banking; oversaw global implementation
  • –Approved dispensations and risk profiling for Private Banking, Business Banking, SC Ventures, new digital partnerships across markets
  • –Oversaw root cause reviews and fraud investigations across all countries; reduced fraud incidents
  • –Ensured regulatory compliance; boosted compliance rate; reduced fraud incidents across portfolio
Jan 2017 — Feb 2020
Citibank Pty Ltd · Australia

Vice President — Strategy, Policy & Head of Country Fraud Risk

  • –Led Australia's entire fraud risk management team and all initiatives; oversaw overseas fraud operations
  • –Adopted digital tools; improved cost management; accelerated application processing time by 60%
  • –Improved detection of AML events — Suspicious Activity / Suspicious Matter Reporting (SMR)
  • –Achieved 100% compliance with AFCA and ASIC regulatory requirements
  • –Highest-ranked NPS score in the country; strengthened stakeholder engagement
Jun 2014 — Jan 2017
Commercial Bank International · UAE

Head of Internal Audit — Credit Audit (Commercial & Retail)

  • –Delivered assurance on enterprise loans & advances portfolio — Corporate, Syndications, Business Banking, FIG and Consumer in UAE
  • –Designed and executed assurance program for enterprise credit risk management; led special investigations
  • –Developed internal audit charter; quarterly Board Audit Committee packs; improved audit effectiveness and Board reporting
  • –Oversaw internal quality assurance checks; provided guidance on IIA Standards; enhanced audit compliance
  • –Strengthened executive leadership collaboration; enhanced compliance with external oversight bodies
Sep 2011 — Jun 2014
Bank Muscat SAOG · Oman, Kuwait, KSA, Bahrain

Head of Audit — Consumer, Cards & Channels

  • –Enhanced audit assurance coverage for consumer banking, cards and e-channels — compliance and AML audits for Oman, Kuwait, KSA and BMI Bank Bahrain
  • –Developed and implemented audit charter; expanded alignment of audit strategy to organisational goals
  • –Maintained IPPF (IIA) quality standards; elevated Board Audit Committee communication effectiveness
  • –Coordinated with central bank on significant regulatory project; demonstrated capability in leading fraud control frameworks
Jul 2010 — Sep 2011
Bank Muscat SAOG · Oman

Manager — Internal Audit, Corporate & Consumer Banking, Credit Group

  • –Enhanced control environment assurance of Corporate, SME and Consumer Banking divisions; elevated loan portfolio risk assessment
  • –Ensured compliance with credit policies — credit limits, concentration, credit bureau, KYC, renewal/extensions, approval limits
  • –Refined credit risk management; elevated accuracy of credit provisioning; reviewed exposure currency and sectoral exposure
PRIOR ROLES
  • Bank Muscat · Head of Risk, Card Services
  • ABN AMRO Bank N.V. · Manager, Fraud Prevention & Control
  • HSBC Bank · Fraud Risk Officer, North India
  • GE Countrywide & Capital International · Assistant Manager, Fraud Risk
EDUCATION
  • CPA · Accounting — CPA Australia
  • ACMA, CGMA · Management Accounting — Chartered Institute of Management Accountants (CIMA), UK
  • MBA Finance — IMT Ghaziabad