Protiviti - Senior Consultant - Operational Risk Management - Insurance

Experience : 5-10 years

Role Overview:

We are seeking a professional with experience in Operational Risk and Control Testing to support risk management activities within the insurance sector. The role will involve assisting in strengthening the operational risk framework, performing control testing across key business processes, identifying control gaps, and supporting risk monitoring and remediation activities.

Key Responsibilities:

- Assist in implementation and enhancement of the Operational Risk Management (ORM) framework, including risk identification, assessment, monitoring, and reporting across business and support functions.

- Perform risk-based control testing to assess design adequacy and operating effectiveness of controls across key insurance processes including underwriting, claims, policy servicing, finance, investments, and distribution.

- Identify operational risk and control gaps, document observations, conduct root cause analysis, and track remediation actions with process owners.

- Support operational risk activities including Risk & Control Self-Assessment (RCSA), incident/loss event analysis, Key Risk Indicator (KRI) monitoring, and thematic risk reviews.

- Evaluate adherence to internal policies, SOPs, and applicable insurance regulatory requirements while supporting governance and reporting requirements.

- Prepare risk reports, testing documentation, dashboards, and management presentations, while coordinating with business, compliance, and internal audit stakeholders.

Experience & Qualification:

- Experience: Minimum 2+ years of relevant experience in Operational Risk, Internal Controls, Risk Assurance, Control Testing, Internal Audit, or Risk Consulting within Insurance / BFSI.

- Preferred Industry: Experience in Life, General, or Health Insurance industry preferred.

- Qualification: CA / MBA (Finance/Risk) / FRM / CIA / Bachelor's degree in Finance, Commerce, Risk Management, or equivalent qualification.