EarlySalary - Manager/Senior Manager - Operational Risk

Department: Credit & Risk Management

Reporting To: Chief Risk Officer

Job Overview

The Operational Risk Manager is responsible for identifying, assessing, mitigating, and monitoring risks that arise from internal processes, systems, people, and external events. This role ensures that operational risks are managed within the organization's risk appetite and regulatory expectations.

Key Responsibilities

1. Risk Identification & Assessment

- Conduct Risk Control Self-Assessments (RCSA) and Privacy Impact Assessments (PIA).

- Identify risks in business processes, projects, systems, and new initiatives.

- Analyze operational incidents and loss events to determine root causes.

2. Risk Mitigation & Strategy

- Develop and implement operational risk frameworks, policies, and SOPs.

- Define Key Risk Indicators (KRIs) and thresholds; monitor and report on them.

- Collaborate with IT Security and other departments to address privacy and cyber risks.

3. Compliance & Regulatory Alignment

- Ensure compliance with internal policies and external regulations (e.g., RBI, SEBI, IRDAI).

- Stay updated on changes in privacy legislation and regulatory requirements.

- Support internal and external audits and regulatory inspections.

4. Reporting & Governance

- Prepare risk dashboards, heat maps, and analytics for senior management and risk committees.

- Maintain documentation to evidence risk assessments and mitigation actions.

- Present findings and recommendations to stakeholders and executive leadership.

5. Business Continuity & Incident Management

- Oversee the Business Continuity Management (BCM) program including testing.

- Lead incident reporting and loss data collection processes.

- Coordinate response plans for operational disruptions.

6. Stakeholder Engagement & Training

- Build relationships across departments to embed risk culture.

- Conduct training sessions on operational risk awareness and compliance.

- Actively participate in cross-functional risk forums and committees.

Qualifications & Skills:

Education:

- CA, MBA in Finance, Economics, or related field.

- Preferred: Master's degree or certifications like FRM or CRM.

Experience:

- 5-10 years in operational risk, compliance, or internal audit within BFSI.

- Experience with GRC tools is a plus.

Skills:

- Strong analytical and problem-solving abilities.

- Excellent communication and stakeholder management.

- Deep understanding of risk frameworks (RCSA, KRI, BCM).

- Familiarity with regulatory environments and privacy laws.

- Project management and change management experience.