RBL Bank - Business Operational Risk Manager - Centralized Operations (7-11 yrs)
Job Title Business Operational Risk Manager (BORM) - Centralized Operations
Department Centralized Operations - Ops Control & Process Management
Base Location Gurgaon
Reporting To Head - Operations Control
A. Position Purpose:
The position is responsible for managing the Risk & Control function within respective operations Units (the Bank's first line of defense for operational control/risk).
The role entails an assessment of the Unit's risk management environment and key risks, instituting appropriate controls required to mitigate such risks, and maintaining oversight over the Unit's risks arising from people, process & systems in line with the relevant internal policy, and external regulatory requirements.
BORM is not merely a SPOC for risk control but will operate as Risk Controller for the Unit. Further, detailed activities are stated below:
- The key responsibility is to provide an assurance to COO that the Operations Units are working in line with the defined policies and processes/SOPs by running a periodic review of the process adherence check and sample review of transaction processing vis-- -vis SOPs.
- Ensures review of Operations Units on a periodic basis and consolidates all issues identified during reviews and presented in a holistic manner to the Unit Heads, COO and any other stakeholders as may be required.
- Implement tracking and resolution mechanism of observations in a timely manner and put up appropriate escalations (MIS) to Unit Head and COO.
- Define and devise risk review and control mechanism in various operations units for pre-defined periods based on agreed KRI- s, RCSA.
- Build and drive a no surprise culture in Operations Units. Conduct surprise reviews / retrievals to test implementation/adherence of processes
- On-going engagement with the key stakeholders
B. Position Responsibilities:
S No Key Responsibilities
I. Evaluation of Risk Rating of Operations Units
Review critical risk parameters in line with KRI's and RCSA for the unit and sub-units within Operations. Besides review key incidents and/or errors, etc. reported during a period. Based on the observations and responses to Key RI's and RCSA's and incidents, accord a risk rating (RAG) to each sub-units on their day to day functioning. This needs to be presented to the COO on a monthly basis.
Escalation of High & Medium Risk incidents/ errors/ observations to the Incident Management team.
BORM will have primary responsibility as the Risk Controller for the assigned unit/s, and will be the single point of contact (SPOC) for all risk control matters relating to the Unit, including but not limited to:
ORM - Operational Risk Management
IFC - Internal Financial Control
RBS - Risk Based Supervision (and all Audit / Vigilance / Regulatory / Compliance matters)
All such involvements will be limited to /up to the relevant internal teams like ORM, Audit and Compliance Teams, who will be directly coordinating with the external stakeholders unless otherwise stated.
To drive the risk culture & discipline within the Unit.
II. Risk Assessment Checklist - Dynamic Changes
- Develop a checklist for assessment of the sub-units in line with KRI- s, RCM's and RCSA's and make the checklist dynamic to include learning from any incident/errors.
- To conduct periodic testing of the same, including remediation of control gaps/failures.
- KRI - Review / develop Key Risk Indicators (KRI) for the Unit, and ensure quality of reporting and remediation of KRI breaches.
III. Periodic Engagement and Updates
- Ensure that periodic engagement meeting are taking place in a timely manner with the respective stakeholders, e.g. Team Managers, Unit Heads
- Ensure that data collation for such engagement is consistent and highlighting the critical risk areas in the sub-unit and overall standing of the Unit
- Ensure and track that respective stakeholders are taking appropriate punitive action for issues and observations
- Participation in monthly Operations Control Meeting with Unit Heads to present critical issues, highlights of previous month
- Engage with Compliance, Audit and OR teams to take feedback/learning to strengthen operational control in Operations Units.
- Identify emerging trends and work with Head - Operations Control & Process Management on system fix to prevent recurrence across the network
- Control Issues - Report control failures/issues to Unit Head and to the respective Risk/Control teams (ORM, Compliance, Legal, Finance, etc.) as applicable. Track and drive remediation of all reported control issues (including ORM / Audit / Regulatory issues) to resolution within the committed timelines, and ensure quality of issue closures - such that the recurrence of the issue is avoided
IV. Performance Parameters and Control KPI
- Testing of issue closure by operations units and sample review of critical processes
- Satisfactory Audit Report for the Units
- Closely work with other stakeholders as defined.
- Managing team and their KPI's including recruitment, training/coaching and PMS Implement a culture of walk-the-talk of control/ compliance across units without compromising on customer service, with a focus on zero tolerance on Frauds/Process Lapses and build a culture of no surprises
Risk Aggregation & Reporting - Review all Unit inputs to Risk/Control teams for quality & consistency with established policy/guidelines for risk reporting, including but not limited to:
- Operational Loss / Near Miss events and Incident Reporting (including conducting root cause analysis of reported events, and developing corrective & preventive actions).
- Other inputs to the ORMC / ERC / Other Risk Forums
Regulatory - To put in a tracking and monitoring process to ensure timely & accurate submission of regulatory reports, information sought by regulators, and interact with the Regulators during regulatory inspections by the respective functional operational units.
C. Qualifications and Experience Required:
Essential Graduate in any stream in line with bank policy
Preferred CA/MBA with relevant concentration in Finance / Management.
Professional Certifications or Training in Risk Management (Basel, FRM, ERM) and Control would be an added advantage.
Essential Minimum 8-10 years of banking experience, with strong background in Operations.
Specialized skill set in any of the (at least two) areas GTS Operations, Transaction Banking Operations, Treasury Back Office, Credit Card with exposure to Reconciliation of various types of transactions, knowledge of GL set up/functioning in Finacle.
- Intensive system knowledge Vision+ / Credit Card Core Systems, Finacle, proficient in MS-OFFICE
- Worked in metrics reporting structure
- Understanding of key policies of bank, KYC/AML, Outsourcing, Record Management, Fraud Policy, Operational Processes, Operational Risk Policy, Information Security Policy, Knowledge of relevant Master Circulars/Directions, etc.
Preferred 5+ years- experience in a centralized Risk Control function.
D. Competency Requirements:
- Negotiation / Relationship Management
- Team Work / Management - Proactive approach in taking up initiatives / Entrepreneurial way of looking at things
- A flair for Risk & Control Orientation
- Logical thinking and ability to put thru thoughts
- Ability to connect with other relevant stakeholders
- Good presentation skills
- Effective team management particularly in metrics reporting structure
- Work collaboratively with stakeholders to achieve common goals for the bank
b. Functional Inter-linkages
Internal & External
- Business Functions across the bank
- Services & Quality Management Team
- Audit, Compliance and Operational Risk Teams
- Finance/GL Control
- Operations Functions in banking, e.g. Centralised Operations, Transaction Banking Ops, Trade/FX Operations, Credit Card Operations (all or any)
- Statutory Authorities / Regulatory Bodies in consultation with Legal and Compliance Teams of Bank
- Key regulations affecting banking operations
- Systems in use at the Bank
- Bank's organization structure & business units
- Traveling across offices in Mumbai and inter-city traveling
c. Behavioral Skills
- Professionalism Conducts duties with good judgment and in good faith
- Respect Sensitive and responsible for what is said and done
- Excellence Acts in a manner that earns the trust and admiration of others
- Entrepreneurial Enterprising and take ownership of one's actions
- Teamwork Works collaboratively to achieve the common goals and be successful together
- Good oral and written communication skills
- Strong organizational and prioritizing skills
- Ability to influence business partners in addressing control issues and business practices
- Ability to work with concepts and independently develop control programs
- Good interpersonal skills - ability to communicate, collaborate, and influence a diverse group of stakeholders
- Strong project management skills including the ability to manage & ensure timely project completion and high-quality deliverables