1,148 Operational Risk jobs in India

Job Location - Marol (Mumbai)

1. Responsible for Financial and Operational Risk related Reporting to Region/Group

2. Adoption and Implementation of Generali Group Policies and Guidelines

3. Carry out annual Operational Risk Assessment (ORA) and Main/Emerging Risk Self Assessment (MRSA)

4. Monitor and control Key (Top) Risks and Focused Business Risks (FBRs) and drive improvement in governnace standards

5. Review and finalise RCSA of each function and obtain approvals from various function heads

6. Prepare Risk Opinion on Business case on investment instruments/limits, Capital infusion plan/proposals and Intra group transactions

7. Carry out risk assessment related to onboarding of new partners and vendors

8. Prepare Risk Management Committee (RMC) deck and minutes, ensure timely closure of actionables of committee meetings

9. Monitoring and Control of Regulatory/Group/Risk Appetite Framework (RAF) Limits

10. Carry out engagement with various functions, ensure risk identification is thorough and necessary contols in place are effective in mitigating risks

Project Related Skills -

Coordinating with various enterprise and sales functions & Internal audit.

Ability to prepare reports/presentations for facilitating discussions at various levels vizzz. Leadership Team, Management Sub Committees, Board committees, Regulatory Requirements etc.

Education and Experience

B Tech, CA, MBA and desired Certifictions (FRM, IRM, PRMIA)

2-5 Years Experience in Insurance/Financial Services/Consulting/Risk/Audit

Analytical mindset & skills

Role : Operational Risk Manager

Exp : 3 7 Location : Bangalore

Position Summary:

The Operational Risk Manager will be responsible for identifying, assessing, monitoring, and mitigating operational risks within the health insurance business. This role involves ensuring compliance with internal policies and external regulatory requirements, overseeing risk events, and implementing risk management frameworks to protect organizational objectives.

Key Responsibilities:

1. Operational Risk Management: Identify, assess, and monitor key operational risks across health insurance business operations. o Develop and implement risk management strategies, frameworks, and policies. o Conduct risk assessments and ensure action plans are in place to address identified risks.

2. Compliance and Regulatory Oversight: o Ensure compliance with regulatory requirements, insurance guidelines, and organizational policies. o Participate in the implementation and managing the requirements of the Risk Based Supervisory Framework. o Participate in the implementation of AML / KYC Framework o Liaise with regulatory bodies, as required, to maintain adherence to local and international risk management standards.

3. Risk Event Reporting and Analysis: o Analyze operational risk events, identify root causes, and track mitigation measures. o Maintain proper documentation and ensure timely reporting of risk events to senior management and relevant stakeholders.

4. Risk Monitoring and Testing: o Develop and oversee regular monitoring of key risk indicators (KRIs) and operational risk metrics. o Implement risk testing methodologies to identify emerging risks and assess controls' effectiveness.

5. Process Improvement: o Identify opportunities to strengthen operational processes to reduce risk exposure. o Partner with business units to design and implement controls and solutions to mitigate risk. o Drive culture of updated process documentation across the organization

6. Training and Awareness: o Conduct operational risk awareness sessions and training programs for employees. o Promote a risk-conscious culture across departments.

7. Stakeholder Engagement: o Work collaboratively with business leaders, operations, finance, compliance, audit, and IT teams to strengthen risk mitigation strategies. o Provide operational risk insights to senior management for decision-making.

8. Audit and Review Support: o Facilitate internal and external audit processes related to operational risk. o Respond to audit findings and support follow-ups.

Required Skills and Qualifications:

Education:

Bachelor's or Masters degree in Finance, Risk Management, Insurance, Business Administration, or related fields.

Experience:

Minimum 3 years of experience in operational risk management within the health insurance or financial services industry. o Proven experience with regulatory compliance, risk assessment, and risk framework implementation.

Skills :

Strong analytical, problem-solving, and data interpretation skills. o Proficiency in risk management tools, metrics, and methodologies. o Knowledge of health insurance regulations and market practices. o Proficiency in risk reporting, risk control frameworks, and internal audits.

Leadership and Communication: o Excellent interpersonal and leadership abilities to engage with cross-functional teams. o Strong verbal and written communication skills.

Preferred Qualifications:

Certification in Risk Management (e.g., FRM, CRM, or other relevant qualifications). Familiarity with digital transformation trends in health insurance and technological impacts on operational risk. Experience managing risks related to claims processing, underwriting, IT infrastructure, or fraud prevention.

Company Attributes / Personality Fit:

Ability to thrive in a fast-paced, dynamic, and diverse environment. Results-driven with a proactive, hands-on approach to problem-solving. A strategic thinker with attention to detail and a focus on collaboration. This role offers an opportunity to lead operational risk initiatives in a rapidly growing health insurance market in India, ensuring that risks are effectively managed while aligning with business growth and compliance standards. 

Job Title: Operational Risk Management Specialist

We are seeking a seasoned professional to strengthen our audit, compliance, and risk management functions. This role combines operational execution with strategic input, ensuring visibility of use and purpose across SaaS applications.

Key Responsibilities:

• Governance & Compliance
• Support governance processes for SaaS applications, mapping categorizing and monitoring application usage.
• Participate in internal audits, documenting and reviewing existing controls to enhance risk frameworks.
• Risk Management
• Identify areas of risk in current processes and propose new controls or improvements to mitigate potential threats.

Business Context:

• Develop and implement effective governance and risk management frameworks.
• Spearhead audits and governance processes to ensure compliance and risk mitigation.
• Evaluate and enhance existing risk management strategies to minimize exposure.

Business Function

As the leading bank in Asia, DBS Consumer Banking Group is in a unique position to help our customers realise their dreams and ambitions. As a market leader in the consumer banking business, DBS has a full spectrum of products and services, including deposits, investments, insurance, mortgages, credit cards and personal loans, to help our customers realise their dreams and aspirations at every life stage. Our financial solutions are not only the best in the business – they were made just right for you.

Job Purpose

The candidate in this role will own (design, implement, improve, monitor and steer other teams & vendors) the overall governance & controls framework across all products, channels and services of Consumer bank. S/he will ensure internal and pertinent local/global regulatory guidelines are implemented or reporting’s are done by teams concerned in time and with the desired quality. As a gatekeeper for all regulations & controls, this person will ensure operational risk identification, periodic management awareness & management as well.

Key Accountabilities

• Act as the CBG Unit Operations Risk Manager, managing operational risks & events:
• Enhance risk governance at CBG India by facilitating various Committees within the unit and providing due representation in governance committees across the bank.
• Ensure timely implementation of operational risk policies, standards and guides
• Develop and ensure timely implementation of unit specific operational risk policies, standards and procedures
• Review and ensure approvals are obtained for deviations from corporate operational risk policies and standards
• Co-ordinate audit and regulatory inspections
• Ensure timely reporting of Ops risk events and the completeness and correctness reporting being done in accordance with Group’s reporting and classification standards
• Reviewing & providing advisory guidance on the appropriateness of risk mitigating measures/plans
• Analyzing and reporting operational risk events, loss trends and root cause to CBG/ SU management and relevant risk and control committees.
• Key Risk Indicators monitoring.

Job Duties & Responsibilities

Risk and Control Self Assessment

• Identify/update the scope of RCSA to be completed for CBG India.
• Plan and implement the RCSA program across all areas within CBG
• Provide guidance on identifying and assessing inherent/net/residual risks and aligned internal controls
• Validate RCSA against actual risk event losses, KRI trends, audit and regulatory inspections

Governance of Partnership tie-up

• Facilitate the Outsourcing Risk Review with the control teams including ISS, Operations, Technology, Audit, GPS, Risk, Legal and Compliance
• Facilitate the assessment process required for Outsourced Service Providers with the Ecosystem partners and the control teams

Product/ Process Risk reviews

• Facilitate NPA review and approval process for CBG products within the Country and Regional stakeholders
• Review of periodic Product releases
• Review Standard Operating procedures as and when needed and highlight controls to be built in
• Identification and running of theme based reviews of the processes from Controls perspective

Business Risk Management

• Identification of Legal and Compliance risks, mitigants and residual risks in co-ordination with the business & operations teams, and facilitate the process of risk acceptance.
• Co-ordinate with Legal and Compliance teams for necessary Regulatory compliance and communications. Represent CBG at the Country RGG.
• Facilitate the business and operations team in establishing the risk framework for CBG and ensuring timely closures.

Pro-active audits to ensure the best possible audit rating

• Liaise with the Audit team for establishing a risk based audit approach for CBG
• Co-ordinate with the audit team for assessments pertaining to CBG. Close monitoring & tracking on audit issues pertaining to CBG

Business Continuity Management

• Ensure timely implementation of BCM policies and standards
• Ensure timely reporting/ escalation of incidents causing disruptions to the business
• Highlight key BCM issues to unit mgmt and track action plans to closure

Stakeholder Talent Management

• Coordinate during regulatory inspections to ensure data and responses provided are in line with requirements
• Timely identification of resource requirements and onboarding + retention of selected team
• Manage & supervise team, maintaining team productivity and motivation levels
• Creating knowledge depth in the team by regular training & knowledge assessments, upskilling – to aid in business continuity
• Constant compliance to laid down training & certification requirements

Required Experience

• Minimum 12 – 15 years’ experience in banking, operational risk management, business controls
• Experience of multi-tasking, managing multiple stakeholders and independently having CXO level interactions

Education / Preferred Qualifications

• Bachelor’s degree from a recognized university
• Post graduate qualifications are desirable but not necessary if suitably compensated by top notch exposure to above listed experience
• Professional qualifications on projects and change management are desirable but not mandatory

Core Competencies

• Understanding of country regulation specifically in consumer/retail banking space is a must
• Understanding of digital lending processes
• Periodic review of the unit specific KRIs/ Common KRIs in consultation with BU/ SU Head.
• Analyze and monitor the KRI data and trends.
• Highlight KRI trends and issues/ exceptions to BU/ SU mgmt and relevant risk and control committees and forums

Technical Competencies

• Data Analysis: Proficiency in analyzing data to identify trends, patterns, and potential risks.
• Timely implementation of BCM policies and standards
• Analyse and monitor the KRI data and trends