Head - Risk Management - Bank

Job Title: Head of Risk Management

Position & Purpose: The Head of Risk Management is responsible for strategizing, leading, and overseeing all aspects of the organization's risk management functions. This role entails developing and implementing risk management strategies, risk modelling, and loss prevention initiatives to safeguard the financial stability and reputation of the organization.

Roles & Responsibilities:

Risk Assessment & Mitigation:

- Assess potential risks that could impact the financial stability and reputation of the organization.

- Conduct risk assessments, analyzing and estimating the risks affecting the business.

- Detect potential threats to operational efficiency, such as underperforming resources, personnel liabilities, property inefficiencies, and safety risks.

- Identify improvement opportunities and develop action plans for risk containment and mitigation.

Policy Development & Implementation:

- Lead the development and implementation of business continuity policies, contingency plans, and site testing for all units.

- Create and oversee the implementation of various risk-related policies, including Fraud Management, Risk Framework, QA Audit, and RCSA.

- Establish and implement a comprehensive risk framework within the organization.

Governance & Compliance:

- Manage and coordinate multiple governance committees to ensure adherence to risk management practices.

- Ensure compliance with legal requirements and regulations, maintaining the highest standards of governance, risk, and control.

- Interact with internal audit teams, external auditors, and business units to ensure effective communication and compliance across the organization.

Risk Monitoring & Reporting:

- Develop risk scorecards and dashboards to monitor portfolio risk, with regular reporting to the MD & CEO.

- Drive and implement cutting-edge risk monitoring tools and automate the risk management framework.

- Develop early warning signals and risk limit frameworks to proactively manage and mitigate risks.

Fraud Detection & Forensic Audits: Lead efforts in detecting fraud and conducting forensic audits related to financial matters, utilizing detailed analysis to uncover potential issues.

Leadership & Innovation:

- Provide leadership in driving best-in-class risk management practices, ensuring that the organization stays ahead in risk management capabilities.

- Spearhead the adoption of digital risk frameworks and the latest risk tools, ensuring the organization's risk management practices are future-ready.

Job Specific Skills:

- Expertise in risk analysis, database management, risk metrics, and mitigants.

- Thorough knowledge of legal requirements and compliance regulations.

- Proficient in risk management, auditing techniques, and accounting standards and principles.

- Familiarity with the latest risk tools and digital risk frameworks, with a focus on automation.

- Strong problem-solving mindset and collaborative approach.

Minimum Experience:

- Over 18 years of experience in Risk Management and Governance, specifically related to QA, Audit, and RCSA within Bank/NBFC/Shared Services environments.

- Proven track record in developing and implementing risk processes and frameworks.

- Extensive experience in providing oversight of governance, risk, and control arrangements in financial operations.

- Strong technical knowledge with the ability to translate it into practical solutions.

- Excellent communication and presentation skills, particularly in delivering clear and actionable messages to relevant stakeholders.

Educational Qualification: Postgraduate (preferably MBA in Risk Management) or certification in Risk Management.