Description:

Job Description: Lead Risk (Operational Risk Management & Enterprise Risk Management)

Industry: NBFC

Location: Mumbai Andheri

Reporting to: Chief Risk Officer (CRO)

Role Type: Full-time | Leadership | Individual Contributor/Team Lead (as applicable)

1. Role Summary:

The Lead Risk (ORM & ERM) will be responsible for designing, implementing, and strengthening the organizations Operational Risk Management and Enterprise Risk Management frameworks. This position plays a critical role in identifying, assessing, monitoring, and mitigating risks across the NBFCs businesses and support functions. The role will drive risk culture, enhance governance, and ensure regulatory compliance aligned with RBI guidelines.

2. Key Responsibilities:

A. Operational Risk Management (ORM):

- Develop and implement an enterprise-wide Operational Risk Management Framework in line with RBI guidelines and industry best practices.

- Conduct Risk & Control Self-Assessments (RCSA) and coordinate with business units to evaluate inherent and residual risks.

- Maintain and update the Risk Register, ensuring proper documentation of risks, controls, and mitigation strategies.

- Implement and monitor Key Risk Indicators (KRIs) for business functions and trigger corrective actions when thresholds are breached.

- Lead root cause analysis and coordinate corrective action plans for operational loss events.

- Maintain an Operational Loss Database and report on trends, patterns, and learnings.

- Facilitate Process Risk Reviews, SOP validations, and ensure adequate internal controls.

- Work with Internal Audit and Compliance teams to address gaps and ensure closure of observations.

B. Enterprise Risk Management (ERM):

- Strengthen the ERM framework by integrating credit, market, operational, liquidity, and strategic risk assessments.

- Coordinate enterprise-wide risk identification, risk assessment, and risk prioritization activities.

- Support CRO in preparing and presenting the Risk Appetite Framework (RAF) and monitoring adherence.

- Conduct risk heat map analysis, scenario analysis, and stress testing in collaboration with business and finance teams.

- Ensure regular updates to the Board Risk Management Committee (BRMC) and management through comprehensive risk decks.

- Contribute to the development of ICAAP, ILAAP, and other regulatory risk documents.

C. Governance, Policies & Compliance:

- Draft, review, and update risk management policies (ERM policy, ORM policy, RCSA policy, Outsourcing Risk Policy, etc.).

- Ensure alignment with RBI regulations for NBFCs (Scale Based Regulation, Operational Risk guidelines, etc.).

- Coordinate with risk champions/owners across departments to embed a strong risk governance culture.

- Support external and internal audits from a risk management perspective.

D. Business Partnership & Risk Advisory:

- Act as the primary risk advisor for business and functional units.

- Evaluate new products, processes, and digital initiatives through comprehensive Risk Assessments.

- Identify emerging risks and provide early warning signals.

- Lead cross-functional discussions to develop and implement risk mitigation plans.

E. Reporting & MIS:

- Prepare periodic risk reports for senior management, BRMC, and regulatory submissions.

- Develop dashboards on KRIs, loss events, process deviations, and key risk metrics.

- Track remediation of high-risk issues and maintain audit and inspection compliance trackers.

3. Qualifications & Experience:

Education: Graduate in any discipline (mandatory).

Postgraduate in Finance/ Risk/ MBA/ CA/ FRM/ CFA preferred.

Certifications in Operational Risk, ERM, or governance frameworks are advantageous.

Experience:

- 7-12 years of experience in Risk Management within NBFCs, Banks, or Financial Services.

- Strong understanding of Operational Risk, ERM frameworks, internal controls, and regulatory guidelines.

- Experience working with senior management and regulatory bodies is highly desirable.