Identify potential risks/ control issues from various available records/ sources for timely remediation and strengthening internal controls. | - Co-ordinate with BORMs/Process owners to ensure independent validation of RCMs and RCSA results shared by Business and Support Functions.
- Review various available sources like GLs, System generated/ ad hoc operational reports, IT incidents log, Info Sec security logs, Customer Complaint data, Operations error log, etc. using analytics/ or manual review procedures to identify potential risk/ control issues.
- Discuss identified potential risks/ control issues with Team Lead-ORM and Head-ORM for further investigation, reporting and remediation, as appropriate.
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Support KRI monitoring process for monitoring risk levels and direction. | - Collect, analyze and prepare KRI breach report along with root cause, actions, action owners and timelines for review of Team Lead -ORM and Head-ORM.
- Ensure timely publishing of correct KRI breach report to all stakeholders.
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Manage open issues and actions from various sources for closure &/ or timely escalation of overdue items to strengthen ORM governance and oversight. | Implement Issue and Action Management process by ensuring following - - Build a comprehensive tracker for issues and actions emanating from various source like approved Product notes/ revisions, review of SOPs, RCM reviews, RCSA results, KRI monitoring, Incident reporting including insurance claims, ORMC, RMC, etc.
- Ensure periodic follow-up for timely and correct updation of tracker to facilitate availability of relevant data to various stakeholders.
- Ensure timely reporting &/or escalation of overdue open issues &/or actions.
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Assist in strengthening governance over outsourcing of financial service activities. | - Implement approved Outsourcing Policy and various aspects of Outsourcing SOP.
- Annual review of Outsourcing Policy and SOP for changes, if any.
- Assist Head- ORM in ensuring adequate governance over outsourcing of financial service activities by Business and Support functions including co-ordination with Business/Support functions to facilitate pre-assessment of risks prior to outsourcing of new financial services activities.
- Ensure timely completion of periodic Outsourcing reviews by Business & Support functions as per regulations. Review submitted reports and prepare summary report for Board reporting.
- Independent validation of Service Provider review reports submitted by Business and Support Functions.
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Assist &/ participate in various ORM initiatives to further strengthen ORM governance and oversight. | - Review adequacy of risks covered in Insurance Policies and publish relevant information for reference and use by LOBs and Support Functions.
- Assist in independent assessment of controls and remediation of gaps (including process control automation initiatives)
- Execute &/or facilitate other ORM initiatives including detailed risk reviews/ process deep dives/ thematic reviews/ ad-hoc projects, etc.
- Assist in collation and preparation of periodic/ ad hoc ORM reports for Senior Management, ORMC, RMC and Board.
- Co-ordinate with Learning & Development team and Business/Support functions for execution of training strategies through online/ offline channels.
- Support automation of ORM processes by participating in system implementation, performance of UAT and resolution of UAT issues, on-going master maintenance, updation of ORM data(RCM updation, RCSA results, risk incidents, KRI, issues and actions, reporting module, etc.)and on-going change management activities.
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