Chief Manager - Operations Risk - Bank

Company: A Private Bank

Location: Mumbai

Group: Operations Risk Management Group (ORMG)

Grade: Chief Manager

Job Description:

Operations Risk Management Group is the Bank's support practice for Operational Risk Management for India and Overseas Branches. It functions as a second line of defense and facilitates the business in developing an effective control framework within the Bank. The group challenges the Risk and Controls documented by the Business so as to enhance the operational risk management of the Bank.

Key Responsibilities:

- Evaluate the Risk and controls documented by the Business groups and effectively perform the challenge function

- Independently assess and monitor the effectiveness of controls and promote continuous improvement in design and execution

- Identify and eliminate redundancies in control procedures and drive consistent and common control process

- Review the product/process from operational risk perspective so that suitable remedial measures can be implemented

- Lead the team and ensure that the activities as outlined in the plan are carried out effectively and within the stipulated time

- The incumbent will be responsible for managing a team of professionals

Roles and Responsibilities:

- Partner with Risk, Compliance, Audit, Technology, Business, Operations, etc. to implement and maintain a strong and sustainable operational risk culture

- Keep abreast with the regulatory and Basel guidelines on operational risk

- Regularly communicate to ensure key Risk & Control messages are cascaded throughout the business

- Participate in the new business / product/ process initiatives and examine the same from operational risk perspective

- Function as secretariat to the Operational Risk Committee. Coordinate the meeting, define the agenda, publish minutes and monitor delivery of action plan and participate in the meeting

Skills and Knowledge required:

- Ability to take initiative, think strategically, direct activities

- Ability to proactively engage business and functional managers to mitigate risks and prioritize high impact potential issues