Operation Risk Management Role - Third Party Risk - BFSI

Job Description & Responsibilities :

- Provide input and aid in the development of policies focused on the managing risks involved with third party business processes including Outsourcing arrangements

- Review and maintain the Outsourcing Governance Guide to ensure that outsourcing governance frameworks and requirements are relevant, current and effective

- Perform outsourcing risk reviews to evaluate risks associated with outsourcing arrangements and assess service providers' ability to employ high standard of care in performing the outsourced services

- Conduct third party risk assessments (including Outsourcing arrangements) in alignment with Banks policies, Industry standards and Regulatory Requirements

- Perform on site / off site assessments (Thematic Reviews) of vendors to identify opportunities for improvement

- Liaison with stakeholders (owner units of outsourcing activities) and key SMEs (Financial Crime & Security Services, Information Security Services, Group Business Continuity Management, Risk Management Group, Compliance) on risk and control matters including ad-hoc projects

- Work with service delivery managers to ensure compliance to outsourcing governance requirements

- Prioritise and implement system enhancements to support new outsourcing governance requirements and continuously improve existing system functions/ controls.

- Review and Challenge control monitoring plans, performing monitor activities and analysis of evidence to determine controls are operating effectively

- Monitor and report bank-wide outsourcing risks in periodic outsourcing risk forums

- Responsible for regulatory submissions and periodic updates to Board and Senior Management

Required Experience:

- At least 8 years of experience in for 3rd Party Risk Management (including Outsourcing Risk Management) financial institution with large Branch Network.

- Knowledge of OR in Digital Products will be an added advantage.

Education / Preferred Qualifications : CA / MBA preferred.

Core Competencies :

1. Good communication and inter-personal skills, with ability to work with people at different levels

2. Strong Analytical skills.

Technical Competencies :

1. General knowledge of banking products/services, activities and operations in commercial, consumer and branch banking

2. Analytical and able to identify potential operational risk exposures in business activities and assess the appropriateness and adequacy of mitigating controls

3. Should have Consumer Banking esp Branch Banking experience in an organization with large branch set-up

4. Experience on Digital products, Ecosystem partnership will be an added advantage.

Work Relationship:

1. Ability to work with business/support units in the rollout of various operational risk management processes

2. Must be a team player with ability to work professionally with team members and workgroups formed with other business/support units.