Operational Risk Lead

Department : Risk Management

Total Work Experience : 12 + years in General Insurance Industry

Education : Chartered Accountant / MBA (Finance) – Preferred but not necessary

Duties and responsibilities : -

• Lead and coach team members in risk identification, risk assessment / evaluation and risk treatment approaches
• Initiate and develop Operational Risk processes according to defined operational risk framework, policies and standards for risk management.
• Execution of special reviews for areas which are core, technical and high risk for the organization.
• Demonstrate in-depth knowledge of business risks, processes, and internal controls of the organization.
• Manage and perform regular PAN INDIA defined Branch visits for process audit and report process inefficiencies
• Review of OR Framework and related policies related to business unit
• Implement plan to prevent, eliminate / minimize and mitigate operational risks.
• Support the business to design controls to enable risk management for new products / processes
• Drive continuous improvement in the business control environment
• Re-design processes including opportunities for automation
• Conducting periodic reviews with management team and respective stakeholders, documenting minutes and timely closure of ATRs.
• Review of revised SOPs and oversee effective design of controls for all revised / changed processes
• Publishing KRI Dashboard and OR Event Dashboard to Functional Heads on a periodical basis.
• Team management- Goal setting and monitor team performance
• Performing theme based reviews, in order to identify process lapses and build strong control
• Leading business continuity related activities

Specialized skills & competencies : -

The roles need to interact with both internal / external stakeholders to enable success in day-to-day work. This role also would require PAN India travel