AVP - Risk Management - Insurance

Location-Mumbai Andheri

Incumbent will have to extensively liase with the Actuarial department to incorporate Actuarial perspective in to the Risk Management. Actively Participate in projects like Risk Based Solvency, Risk Based Capital, IFRS, etc.

1. Performance of periodic risk assessments to identify all potential risks /evaluate all identified risks, that may impact in the Company in achievement of its objectives

2. Liase & Co-ordinate with the Process owners and identify possible avenues for timely identification of Loss events and associated root cause and its redressal

3. Assist development & maintenance of the Loss Data Repository

4. Assist in development of measuring metrics for quantification of risks (Asset, Liquidity, Credit, Market, Underwriting, Reserving, Resinurance, etc.) using Analytical and Statistical techniques and consistently measure /monitor the same

5. Assist in development & implementation of the Risk Based Capital Computation models as per the prevailing regulations

6. Assist in development of a dashboard providing relevant and summarized risk profile update to the Functional Heads / Presidents / Committees

7. Conduct periodic process walktrhoughs, prepare process flowcharts and perform sample based control testing exercise to assess control effectiveness in line with the IFC requirements

8. Ensure consistent monitoring for effective implementation of control effectiveness enhancing measures/risk mitigation measures and closure of actions (in conjunction with process owners) to mitigate the risk

9. Contributing in planning, re-designing, amending, implementing and periodically updating the existing Risk Policies of the Company.

10. Maintain minutes, flow charts , records related to risk management exercise and ensure proper storage and timely retrieval

11. Assist in preparation of the decks for Committees and Sub-Committees

12. Facilitate effective conduct and completion of risk management awareness enhancing programs through inter - departmental collaboration