Role Overview:
We are seeking a high-caliber Risk Management professional to architect and lead the risk governance landscape at Jio Insurance Broking Limited. This is not just a monitoring role; you will be responsible for building a scalable Enterprise Risk Management (ERM) framework that spans our D2C, POSP, Institutional and Embedded Insurance verticals. You will act as a strategic partner to the Chief Risk Officer (CRO) ensuring that our rapid innovation is matched by robust mitigation strategies.
Key Responsibilities:
1. ERM Framework & Governance
- Architect and implement a scalable ERM framework tailored for a Direct (Life & General) Broker
- Work closely with CRO to define risk appetite statements and tolerance levels for each business vertical
- Prepare sophisticated risk dashboards and heat maps for the Risk Management Committee (RMC) and Board
- Operationalize a board-approved Anti-Fraud Policy as per the IRDAI (Insurance Fraud Monitoring Framework) Guidelines 2025
- Develop and monitor RFIs specific to D2C digital journeys and POSP distribution channels
- Implement Zero Tolerance protocols for internal fraud, intermediary misconduct, and complex affinity fraud
2. Risk Identification & Assessment
- Identify and evaluate operational, strategic, financial, and regulatory risks across all business lines including D2C, POSP, Institutional, and Embedded Insurance
- Conduct periodic risk assessments and maintain a comprehensive Risk Register
- Perform risk analysis for new products, partnerships, and distribution models
3. Risk Monitoring & Controls
- Develop and implement risk mitigation frameworks and internal control mechanisms
- Monitor key risk indicators (KRIs) and ensure timely reporting of emerging risks
- Track risk incidents and ensure appropriate corrective actions are implemented
4. Business & Stakeholder Collaboration
- Partner with business teams to understand operational processes and identify potential risk exposures
- Provide risk advisory support to various business units and leadership teams
- Facilitate risk awareness and training across the organisation
5. Governance & Reporting
- Prepare risk reports and dashboards for senior management and relevant committees
- Support enterprise risk management initiatives and governance frameworks
- Ensure adherence to regulatory guidelines and internal policies
Eligibility / Qualifications:
- Bachelor's or Master's degree in Finance, Risk Management, Insurance, or Business Administration
Experience:
- 5-6 years of experience in Risk Management in the insurance industry
Skills & Competencies:
- Strong analytical and risk assessment skills
- Understanding of regulatory and compliance frameworks in insurance broking business
- Stakeholder management and cross-functional collaboration
- Ability to interpret business processes and identify potential risk exposure
- Strong communication and reporting skills
