Operational Risk Manager

About the Company

The Company is a Systemically Important Non-Deposit taking Non-Banking Finance Company looking to hire a Risk Manager for their Risk Management team.

The Company focuses on providing Education Loans to Indian students for studies both in India and Abroad. The Company presently has a book size of over Rs. 50,000 crores

Job Description

Operational Risk Manager is responsible for independently overseeing the management of operational risk exposures (including monitoring and reporting on aggregate operational risk exposures across groups, legal entities, geographies and jurisdictions) and the quality of operational risk management practices across the company.

The responsibilities include developing, maintaining, and ensuring adherence to enterprise-wide operational risk frameworks, risk policies, and risk management procedures aligned to approved risk appetite statements.

Responsibilities

Operational Risk:

• The primary responsibilities would be to identify, report, assess, measure, monitor, control and report operational risks for the company and evaluate whether the risk management practices are in line with the operational risk strategies and policies.
• Meeting and coordinating with the various stakeholders across locations on an ongoing basis to understand the risks associated with the business and making timely recommendations on risk appetite
• Ensuing timely review of RCSA/ risk libraries received from the various risk owners and risk managers - assist in the approval process, check efficacy of the rating & scales assigned from time to time and on a timely basis update the management of any new risks as well as any risks which have to be demised. Performing a risk assessment: Analyzing current risks including the BCP, outsourcing, emerging and fraud risks and identifying potential risks that are affecting the Company
• Reviewing various business policies/processes from time to time and suggesting any changes / amendments thereto as well as drafting new policies/processes as may be required from risk management point of view
• Conducting reviews on critical/key themes/processes
• Support in conducting ORMC meeting at periodical interval and implementing/tracking actions

Fraud Risk:

• Responsible for review / modification to Fraud Risk Management Policy and Fraud SOP. Ensuring effective on-ground implementation of the policy/framework
• Create/ conceptualize EWS – Fraud system to proactively identify and prevent fraud
• Proactive Identification/Prevention of frauds :
• Review new/existing products/processes from fraud risk perspective
• Review alerts from internal/external sources. Analyze/review pattern and trends to prevent fraud scenarios
• Handle resolution / closure of alerts / highlight exceptions
• Investigation of frauds (incl Whistle Blower Cases):
• Conduct detailed investigation of actual/potential fraud cases – understand the modus operandi, root cause, suggest corrective/preventive actions. Incidents can be reported by internal / external sources
• Coordinate/collaborate with stakeholders for conducting/closing investigation effectively / implement fraud prevention strategies / identify areas for improvement
• Prepare/finalise detailed fraud report for circulation to stakeholders
• Analyse attempted fraud incidents to review for any concerning trends / patterns
• Responsible for coordinating/convening Vigil Working Group and CoE meetings as per requirement
• Reporting of frauds & Monitoring Status:
• Maintain and report fraud incidents internally and to relevant regulatory authority (as required) including handling of FMR and updation to FMR
• Follow-up on ATR/ actionables
• Monitor key trends in industry, regulatory changes, and best practices to ensure compliance with relevant regulations/standards
• Conduct periodic fraud awareness training to employees and stakeholders
• Continuously improve the operational efficiency and effectiveness of fraud risk management processes/practices

Skills

• Have strong understanding of retail lending business in India and understanding of the regulatory landscape
• Have understanding of processes, controls, etc.
• Proficiency in MS Excel - analytical/technical skills in order to infer meaningful insights from the information obtained
• Excellent communication skills, both verbal and written

Qualifications and Experience

• Post Graduate Diploma or Degree in Business Management / MBA / CA
• 2-5 years of experience in the areas of Risk Management in Operational Risk

Job Location: Mumbai (Kalina)