We have a urgent opening with our Gurgaon based clients for the position of Head IT Governance:

Key Responsibilities:

- Setting up and driving IT Governance

- Create science and metric of business value driven by revenue, cost, margins, compliance and security.

- Obtain approval from EMC (Executive Management Committee) on the business value metric and the science that will be used to prioritize IT projects

- Use business value metric to prioritize, approve, reject IT projects

- Ensure IT strategy and execution in alignment with Business strategy and execution

- Reshuffle and Re-prioritize projects in line with business demands

- Keep EMC convinced of decisions on prioritizations, approvals and rejections

- Create IT - Business value dashboard to track IT's contribution to business value

- Drive increase in creation of business value per INR spent on IT

- Ensure fair distribution of work load across IT team. Re-shuffle resources across projects.

- Ensure that best resources are assigned to highest business value projects

- Sign off for Total Cost Ownership for all projects, including CBA and report progress basis benefits shown

- Publish projects benefits realizations quarterly, tracking TCO for all projects

- Designing and helping Chief Operations Officer to prepare appropriate communication decks for various stakeholders including updates to the Board.

- Manage IT Budget

- Approve, reject, modify or postpone IT expenses to ensure effective and efficient use of IT budget.

- Manage, track and monitor 200 crore IT budget. Raise alerts and flags proactively on budget over runs.

- Drive reduction of IT costs by 10% yoy and therefore save up to 100 crores for the business over the next 5 years

- Work with CFO and finance team to create and obtain approval of IT budget

- Conduct research necessary to prepare forecasts of future financial/business conditions using multiple scenarios;

- Publish MIS and track monthly actual of IT expenses

- Benchmark IT spends within the industry and outside

- Conduct cost-benefit analyses as required to assist in making management decisions regarding benefits of current and proposed program proposals, capital budgets, etc.; creates financial models

- Program Management of key IT initiatives & Transformation projects

- Monitor and track - 1 crore expense projects to ensure on-time, within-cost, defect-free and on-scope delivery of projects

- Track interdependencies within and outside IT and ensure on-time delivery of the same.

- Manage CFT (Cross Functional Team) accountabilities and cross functional dependencies/intersections.

- Designing, monitoring and publishing monthly scorecards to respective EMC/SLT Leaders

- Enable management of key internal stakeholders (MLI functions) and vendors by PDG & Applications leads, through governance.

- Review & Sign off Technology Control and adherence to processes, prior to any Go Live planning

- Conducting timely TNA for IT group - signing, reviewing and modifying Training Calendar for IT Group

- Best practice sharing with EMC basis feedback from Gartner Research and other experts.

- Managing CFT accountabilities and cross functional dependencies/intersections.

- Compliance and Audit and protection of business reputation

- Identify and bridge gaps in compliance to regulatory, company and information security policies to protect business reputation

- Identify risks related to cyber attack, data privacy, customer data and employee data and drive mitigation of these risks

- Define and drive compliance and audit processes. Execute on closure of audit observations

- Maintain a working knowledge of impact of new regulations/policies, and political/economic trends may IT in insurance

- Participate in MLI IT risk assessment & audit planning, and use technology subject matter expertise to enhance shared IT audit programs.

- Work with external audit agencies to define audit methodology and drive the audits with IT vendors.

- Provide independent assessment of the overall efficiency and effectiveness of information security initiatives of IT vendors/suppliers

- Provide objective and constructive input, encourage self-assessments

- Adapt and improve audit's approach to future IT audit activities/requirements

- Ensure agreement for the SLAs from the IT Managers. Build strong partnership with key stakeholders.

- Vendor Management

- Identify key IT partners and drive a win-win partnership.

- Establish and manage and optimize the mix of in-house and outsourced resources. Change mix to meet business and IT objectives

- Create vendor strategy that clear lays out a roadmap for vendors that IT will partner with in the short, medium and long term

- Approve, reject vendor/partnerships based on vendor strategy

- Establish ways and means of driving operational efficiency from IT vendors

- Create and track vendor performance scorecards. Establishing vendor performance reviews

- Creating and executing vendor/partner portfolio

Key Measures of Success

Business Value measures:

- Volume of business value created in terms of revenue, cost reduction, margins and protection. Must ensure that IT adds business value worth of 1000 crores over the next 5 years.

- % increase in Business value created as a ratio of IT spend.

- Variance business value created by each IT resource. Lesser the variance, better the performance.

Customer Satisfaction (CSAT) measures:

- TTB rating from CFO, COO and EMC members on IT budget, IT strategy, Vendor Strategy and IT project execution.

Execution measures:

- Adherence of IT Budgets both upwards and downwards.

- 10% yoy reduction in IT costs (structural)

- Improvement in vendor performance

- Minimal or zero major observations from internal and external audits

- Adherence to project plan and schedules.

- Quality of project deliverables

Leadership measures:

- Ability to influence the EMC/SLT and drive agreement science behind business value and project prioritization methodology

- Ability to influence IT Leadership to drive on-time and quality delivery of projects

User Satisfaction measures:

- Business users should be satisfied with the tracking of the various projects (subjective observation)

- IT team should have the buy-in of the Project Management techniques (subjective observation)

- Input measures of adherence to stated rhythm of reviews/meetings for IT initiatives

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