Lead - Digital Operational Risk - NBFC

Job Title: Lead - Digital Operational Risk - NBFC

Location : Mumbai

Overview: The Head of Digital Operational Risk is responsible for overseeing and managing all aspects of digital operational risk within an organization. This role requires a deep understanding of digital technologies, operational processes, and risk management principles to ensure that digital operations run smoothly while mitigating potential risks.

Key Responsibilities:

- Risk Assessment and Mitigation: Conduct comprehensive risk assessments of digital operations, identifying potential threats and vulnerabilities. Develop and implement strategies to mitigate risks effectively.

- Policy Development: Develop policy for Digital Operational Risk and set up framework and develop SOP's outlining procedures related to digital operational risk management. Ensure that policies are aligned with industry best practices and any applicable regulatory requirements.

- Automation Checks: Carry out integration assessment checks of various BREs, IREs and DREs including accuracy and authenticity checks of Input Variables and logics/thresholds checks

- Change Management: Ensure strict compliance with various SOPs of IT and Digital team for any Change Management requests along with checks regarding approval process and evidences. Strengthen Change Management process of the LTF along with establishment of KRI's to monitor the success of changes. Also carry out post implementation validation checks

- Incident Response: Develop and maintain incident response plans for digital operational disruptions or security breaches. Carry out Root Cause Analysis for such incident and lead the response efforts during incidents, coordinating with relevant stakeholders to minimize impact and ensure timely resolution.

- Vendor Risk Management: Evaluate and manage risks associated with third-party vendors and service providers involved in digital operations. Conduct due diligence assessments and implement risk mitigation measures as necessary.

- Technology Risk Oversight: Work with stakeholders (Business, Credit and IT) to understand business requirements/directives which will be implemented on digital platform. Collaborate with IT and cybersecurity teams to assess and address technology-related risks in digital operations, including data privacy, cybersecurity, and system reliability by carry out BCP checks, Batch Activity checks, breach and simulation attack checks and use of deception technology.

- Team Building & Training: Build and manage a team of Digital OR experts. Provide training and awareness programs to employees on digital operational risk management, promoting a culture of risk awareness and compliance throughout the organization.

- Reporting and Communication: Prepare and present regular reports on digital operational risk metrics, trends, and incidents to senior management and relevant stakeholders. Communicate effectively to raise awareness and drive action on risk-related issues.

- Continuous Improvement: Continuously monitor and evaluate the effectiveness of risk management processes and controls. Identify opportunities for improvement and drive initiatives to enhance the organization's digital operational resilience.

Qualifications:

- Bachelor's degree in a relevant field such as Information Technology, Risk Management, Business Administration, or related disciplines. Advanced degree or professional certifications (e.g., CISA, CISSP, CRISC) preferred.

- Strong understanding of digital technologies, including cloud computing, mobile applications, APIs, and emerging technologies, and their associated risks.

- Proficiency in risk assessment methodologies, regulatory requirements (e.g., GDPR, CCPA, Basel III), and industry standards (e.g., ISO 27001, NIST Cybersecurity Framework).

- Excellent analytical, problem-solving, and decision-making skills, with the ability to translate complex technical concepts into business risks and recommendations.

- Effective leadership and communication skills, with the ability to collaborate across functions and influence stakeholders at all levels of the organization.

- Proven track record of driving change and implementing risk management programs in a dynamic and fast-paced environment.