1. JOB PURPOSE:

ORM is a horizontal unit and caters to all Business/Function units within BFL. We act as second line of defence and verify the processes carried out by front line units. Drive execution of the operational risk management framework for the company through implementation of various components. Focus on strengthening internal control environment. While risk management is carried out by the First-Line, the Operational Risk management function is accountable for monitoring and ensuring that Operational Risk is appropriately identified, assessed, understood/calibrated, controlled and managed, with Risk Appetite clearly articulated and supported by appropriate stress testing. Ensure that operational risks are appropriately identified, measured, reported and managed in alignment with the organization's risk tolerances and in compliance with laws, regulations and internal policies and standards.

2. PRINCIPAL ACCOUNTABILITIES:

Risk Identification, measurement and Assessment:

- Assist Risk and Control Self-Assessment (RCSA) workshops for allocated business groups, to identify residual operational risks and arrive at Key risks in the Company's processes.

- Mapping of any internal loss data as reported by all business/Functional groups, into relevant business line and loss event categories as per the Operational Risk Management policy.

- Monitoring of Incident Reporting system (IRS) and follow up for resolving operational risk events.

- Assisting in review all new products and processes with a view to ascertain that operational risk issues are identified fully captured, mitigated/controlled.

- Understanding of the Business Continuity Plan (BCP) and provides support in testing.

- Help in creating, maintaining and update Operational Key Risk Indicators (KRI) for all key risks in the business and creation and reporting of KRI dashboards including escalation triggers, to relevant Committees.

- Contribute to creation of new SOPs within the Operations Risk area and Defining Operations Risk Monitoring methodologies.

- Assist in review of the Operational Resilience for allocated businesses and functions.

- Perform OR testing/ risk assessments on a regular basis.

- Assist in review of all OR related policies and procedures suggest improvements and any additions including maintenance of the Risk, Process and Control Register.

- Undertake specific operational risk related projects and assignments from time to time as directed by the Supervisor.

- Appropriate timely escalation, follow-up and learning from Operational Risk Events/Incidents.

- Work in coordination with business officers from various business lines to ensure implementation of the ORM tools and techniques and review their work to ascertain compliance to the policies as issued by organisation.

Policy Implementation:

- Help implement operational risk management policies and procedures in line with regulatory requirements and industry best practices.

Regulatory Compliance:

- Stay abreast of industry regulations and best practices, ensuring the organization's operational risk management activities are compliant.

Risk Reporting and reviews:

- Collate and prepare Management reporting for ORM assessments/ad-hoc projects that are executed. Take out meaningful inferences from the data and make recommendations.

- Ensure that monthly dashboards are published of assessments that have happened for every business. Review the reports created by team, finalize and publish.

- Preparation of presentations and reports for review by Risk heads/SMT/Committees.

- Preparation of presentation for Annual Operating Plan of the department.

Training and culture building:

- Contribute to development of the necessary planning, training and communication materials for executing RCSAs and other risk assessments, as well as enhancing awareness of ORM.

- Assist in awareness programs and conduct training.

- Support organizing training programs for key stakeholders. Where required, engage with external agencies to conduct specialized trainings and to run certification programs for employees.

- Work with L&D team to plan ORM training. Track and drive the e-module on Op Risk for new joiners through HR and L&D teams.

Additional Accountabilities pertaining to the role:

- Project Management - Support various Risk and Control projects. Work with business units to enable them to deploy solutions.

- Change Management - Regular update of process, SOPs, and data various registers to align with change.

- Continuously evaluate and improve operational risk processes and practices to enhance the effectiveness of the risk management framework.

3. MAJOR CHALLENGES:

- Co-ordination with Business/Function/Risk and other support units to deliver reports at hand.

- Co-ordination with IT Tableau/Power BI team for ensuring the refresh of Tableau/Power BI dashboards and availability of Tableau/Power BI server when required.

- Co-ordination with other Business/function teams to understand their processes and assessments and various data points.

4. DECISIONS:

- Responsible in understanding of requirement from Risk Users/other business function users and provide conduct testing of control charts/exception reports to generate meaningful reports.

5. INTERACTIONS:

Internal Clients:

- Obtain alignment from multiple stakeholders on appropriate solutions and verify that issues are mitigated successfully and to maintain actionable tracker.

- Work with risk, operations, business, compliance, and technology partners to identify deficiencies internal controls and operational processes and to identify root cause.

- Participate in process improvement initiatives, including identifying and implementing best practices in effective and innovative ways.

- Coordinates development and implementation of action plans and target dates stemming from Risk assessments and testing.

- Support stakeholders in understanding reported control deficiencies and related risks.

6. SKILLS AND KNOWLEDGE:

Educational Qualifications:

- Degree with experience of 5 - 7 years with 3 years of relevant experience in Operational Risk Management.

- Knowledge of Operational Resilience will be added advantage - Business continuity Management, Third party Risk Management, Incident Management.

Work Experience:

- Worked in Operational Risk Management role in banks/BFSI sector.

- Have relevant experience in ORM/Operational Resilience.

- Should have skill and understanding of dealing with interdepartmental team members and senior Management.

- Should be well versed with latest trends in industry related to regulators and risk management bodies.

- Good negotiation skills, strong error detection, analytical and problem-solving skills.

- Experience in data analysis and report drafting.

- Excellent Excel & Power Point proficiency.

- Demonstrated success & achievement orientation.

- Excellent communication skills.

- Strong bias for action & driving results in a high-performance environment.

- Excellent relationship skills.

- Exceptionally high motivational levels and needs to be a self-starter.