Manager – Operational & Market Risk
Location: Nariman Point, Mumbai
Industry: Banking / Financial Services
About the Role
We are looking for a highly skilled Manager – Operational & Market Risk to lead and strengthen the risk management framework for our India operations.
This role combines operational risk, market & liquidity risk, and fraud/vigilance oversight, making it a critical position in ensuring regulatory compliance, strong governance, and risk-informed decision-making across the organization.
Key Responsibilities
Risk Strategy & Governance
- Develop and implement frameworks for Operational, Market, and Liquidity Risk
- Ensure alignment with Basel II/III, ICAAP, and regulatory requirements (RBI)
- Provide strategic risk insights and reporting to senior management and committees
Market & Liquidity Risk Management
- Monitor and assess risks across banking and trading portfolios
- Support ALCO and Risk Committees with analysis and insights
- Advise on exposure to:
- Interest rate risk
- Liquidity risk
- Market movements
- Recommend hedging and mitigation strategies
Operational Risk Management
- Design and maintain the Operational Risk Framework
- Lead RCSA (Risk & Control Self Assessments) workshops
- Monitor KRIs, KPIs, and KCIs
- Strengthen risk culture and awareness across the organization
Loss Event & Risk Analytics
- Investigate operational loss events and perform root cause analysis
- Maintain loss databases and identify trends
- Recommend corrective and preventive controls
Fraud Risk & Vigilance
- Lead fraud risk management and investigation activities
- Oversee vigilance-related responsibilities as per regulatory guidelines
- Develop and implement fraud risk policies and frameworks
- Ensure timely escalation and reporting of incidents
Risk Reporting & Controls
- Prepare dashboards, risk reports, and heatmaps
- Identify control gaps and recommend improvements
- Ensure audit findings and regulatory observations are addressed
Stakeholder Management
Partner with:
- Treasury (Front & Back Office)
- Finance & Operations
- Risk & Compliance teams
Liaise with external stakeholders including regulators and auditors
Additionally, performs the responsibilities as the Chief of Internal Vigilance for the Bank.
Ideal Candidate Profile
Experience
- 10–12 years in banking / financial services risk management
- Strong exposure to:
- Operational Risk frameworks
- Market / Liquidity Risk
- Regulatory environment (RBI, Basel norms)
Skills & Expertise
- Sound understanding of risk frameworks and controls
- Experience with RCSA, KRIs, incident management
- Knowledge of treasury / market risk concepts
- Strong analytical and problem-solving skills
- Excellent stakeholder and communication skills
Preferred Qualifications
- Certifications such as FRM, CFA, PRM are an advantage
- Bachelors/ Masters in Finance, Accounting, Economics, Business Administration, Risk Management (or related discipline)
