Manager - Operations Risk - Life Insurance

Ops Risk Manager - Life Insurance

- To ensure compliance of risk management policies within the organization and perform risk management activities for effective implementation of operational risk framework

KEY RESPONSIBILITIES :

- Timely reporting of exceptions/incidents and conduct root cause analysis along with mitigation plan

- Risk analysis and Self- assessment program through implementation of robust Risk management framework to ensure

- Identification of Risk

- Assessment of risk

- Mitigation strategy

- Contribute towards creating Risk management culture in the organization

- To execute and do analytical quality review at portfolio level, channel level, new Product, and distributor level analysis

- To conduct risk assessment projects and mitigation by assessing and review of risk registers, risk triggers, portfolio analysis, internal/external audit reports.

- Conducts training programs with relevant stakeholders on various Risk management processes

- Review of Risk Management policies/SOP on defined intervals

- Deliver Ad-Hoc Risk management projects as per defined timelines

- Ensure timely reporting to Risk Management committee and preparation of RMC deck

- Monthly Governance with all stakeholders on Open risk points and action plan

- To implement the ERM Guidelines as per COSO Standards

Specific Authorities :

(Financial & Non-Financial) Not Applicable

Key Performance Indicators :

- Reporting of exception event, RCA & Closure for exception reported - 100%

Internal :

- Control Testing/Thematic Review as per reviews assigned for the year -100%

- Business Quality & KRI Monitoring - Quarterly/Monthly - 100%

JOB REQUIREMENTS :

- Qualifications Preferred MBA / Engineering Background / CA

- Certifications: FRM / PRM / IIRM / IRM

- Experience 3-5 Years of relevant experience: Manager Level

- 5-7 Years of relevant experience: Chief Manager Level

- Base skill Understanding of Life Insurance Systems, Process, and Product.

Functional Competencies :

- Risk Prevention & Detection: Risk analysis and control assessment

- Regulatory knowledge

- Risk Management: Certified Risk Professional (IRM, Risk Auditor, GARP- FRM, ISACA etc.)

- Analytical skills

Behavioral Competencies :

- Execution Excellence

- Collaboration

- Growth through differentiation

- Technical Competencies Data Visualization Tools such as Power BI

KEY INTERACTIONS :

Internal Nature or purpose of interaction :

- Business units Discussion with various stakeholders for risk management procedures

- Operations Ensure execution of risk management activities in liaison with stakeholders

External Nature or purpose of interaction :

- External agencies/vendors Ensure compliance for the services taken.