Job Description
- Responsible for framing a Risk Appetite Statement to meet the Enterprise Risk objectives for the company highlighting the governance and management structure required to identify, evaluate, mitigate, and monitor the company's overall risk profile including financial, operational, regulatory, reputational and strategic risks
- Convenes the Enterprise Risk Management Committee (ERMC), Operational Risk management Committee (ORMC), New Product Introduction (NPI), Information and Cyber Security committee (ISC) and Vendor Risk Management Committee (VRMC) meetings, maintain their minutes and highlight risks within the company's business units and reports on these risks to the respective governing committees
- Develop, Own , Implement and Refresh the Enterprise Risk Management, Operational Risk, Vendor Risk Management Frameworks ( including policies, practices, procedures, systems and tools) in compliance with applicable regulations, strategic imperatives and the relevant policies/ frameworks of the parent organization and BCBS Standards and the ISO/COSO frameworks, to identify , assess, control, monitor , mitigate, analyze, report and govern risks as per the risk management framework
- Ensure risk management tools like Key Risk Indicators, loss database, scenario analysis, stress test, risk threshold are reviewed at regular intervals by CRO and Risk Committee to align them to the evolving risk environment.
- Responsible for implementation of all risk framework (Enterprise, Operation, Vendor) in the organization - risk identification, control documentation, conducting workshops for RCSA, creating framework for independent testing control, validation, gaps reporting and monitoring residual risk, highlight red flags to risk committees
- Participate in RCMC held by SBI A&S to represent SBIC and respond to the queries raised by SBI
- Review reports prepared for Board reporting and ensure accuracy in reporting to Parent bank
- Create risk awareness and drive the Risk culture within the company
- Ensure onboarding risk assessment and renewals risk assessment of vendors
- Ensure identification and governance around critical vendors, material outsourcing and ensuring performance evaluation is done for all criticak vendors and other vendors as per frequency defined in the vendor risk policy
- Ensure adherence to regular process documentation practices in compliance with the process guidelines
- Ensure timeliness & completeness in initiating the annual review of Board approved policies by the stakeholders and PPRC
Measures of Success (Define the Outcomes expected of the role)
- Ongoing Monitoring of KRIs and identification of new risks
- Monitoring and tracking of progress of actions identified for ERMC/ ORMC controls
- Highlighting open risks to risk committees on a timely basis
- KRIs are current and thresholds are as per risk appetite
- Compliance to Risk policies
- No adverse regulatory/audit findings
- Timeliness and accuracy in collating and finalising the Annual ICAAP
- Timely and accurate updation of process documentation
- Process Adherence as per MOU
Technical Skills / Experience / Certification (If Any)
1. Knowledge of Risk Management techniques for risk identification, assessment, measurement and the monitoring of exposures that may threaten the organization, come up with recommendation for result-oriented solutions
- Knowledge of Enterprise Risk Management frameworks and principles
- Understanding of COSO Internal Controls Framework and ISO 31000 framework
- Understanding of Basel III Operational Risk Guidelines and Standards.
- Certification / Accreditation in Risk Management from a recognized Academic Institution or Industry Body like PRMIA, GARP , NIBM , IRM or equivalent will be preferred
Competencies critical for role with High Proficiency
Strong Communication, Presentation & Interpersonal Skills
Stakeholder management and Influencing Skills
Team Management & Collaboration Skills
Must have Qualification - Post Graduation or Equivalent in Management, Accounting , Business or any allied discipline
Over All experience in role - Overall 15-20 years of post qualification experience
Relevant Experience with respect to the role -10+ years of mid management experience in Audit, Enterprise/ Operational Risk Management (ORM) or allied disciplines
Preferred Industry(If any) - BFSI. Experience in Credit Cards or Conumer / Retail Assets will be preferred
