Chief Risk Officer - Digital FinTech

- The CRO's main objective is to identify, assess, and mitigate various types of risks that may face, ensuring its financial stability and compliance with regulatory requirements.

- Risk Management Strategy: Developing and implementing a comprehensive risk management strategy for the organisation that aligns with its business objectives and risk appetite.

- Risk Assessment and Identification: Identifying and evaluating potential risks faced by the organisation, such as credit risk, market risk, operational risk, liquidity risk, cybersecurity risk, and regulatory compliance risk.

- Risk Mitigation and Control: Developing risk mitigation plans and controls to minimize the impact of identified risks and ensure that the bank operates within acceptable risk thresholds.

- Regulatory Compliance: Ensuring the organisation's operations comply with relevant banking regulations, guidelines, and policies set forth by the Reserve Bank of India (RBI) and other regulatory authorities.

- Risk Monitoring and Reporting: Establishing risk monitoring systems and processes to track risk exposures on an ongoing basis. Preparing and presenting regular risk reports to the comapny's management and board of directors.

- Stress Testing and Scenario Analysis: Conducting stress tests and scenario analyses to assess the bank's resilience to adverse economic conditions and market shocks.

- Internal Controls and Audit: Collaborating with internal audit teams to ensure proper implementation and functioning of internal controls throughout the organization.

- Fraud Prevention: Overseeing efforts to prevent and detect fraudulent activities, both internal and external, and implementing measures to mitigate potential fraud risks.

- Risk Culture and Awareness: Promoting a strong risk management culture across the organization, ensuring that all employees understand their roles in managing risk.

- Engaging with Regulators: Interacting with regulatory authorities, participating in discussions, and providing necessary information during regulatory examinations and audits.

- Emerging Risk Assessment: Staying updated on industry trends, technological advancements, and emerging risks that could impact the organisation's operations.

- The Chief Risk Officer plays a crucial role in maintaining the overall stability and resilience of company, ensuring it can continue to provide reliable and secure financial services to its customers while adhering to regulatory requirements.