1,105 Operational Risk jobs in India

We are seeking an experienced Risk Management Specialist to join our team.

• This role is responsible for developing end-to-end standards for model lifecycle processes: development, validation, deployment, and monitoring.
• The successful candidate will define governance principles, documentation templates, control checklists, and review protocols aligned with regulatory expectations.
• They will support stakeholder workshops to gather inputs and iterate framework design.

Main Responsibilities:

1. Develop and implement risk management frameworks that align with regulatory requirements.
2. Design and maintain documentation templates, control checklists, and review protocols.
3. Serve as a subject matter expert in model risk governance and provide guidance to stakeholders.

About the Ideal Candidate

• A strong understanding of model lifecycle governance in a banking or regulatory environment is essential.
• Prior experience in credit risk, market risk, or regulatory modeling (IRB, IFRS9, scorecards, etc.) is required.
• Familiarity with industry standards on model validation and monitoring practices is necessary.

Why Join Us?

• As a Risk Management Specialist, you will have the opportunity to work on challenging projects and develop your skills in risk management and governance.
• You will be part of a dynamic team that values collaboration and knowledge sharing.

At American Express, our culture is built on a 175-year history of innovation, shared and Leadership Behaviors, and an unwavering commitment to back our customers, communities, and colleagues. As part of Team Amex, you'll experience this powerful backing with comprehensive support for your holistic well-being and many opportunities to learn new skills, develop as a leader, and grow your career.

Here, your voice and ideas matter, your work makes an impact, and together, you will help us define the future of American Express.

How will you make an impact in this role?

The objective of the Operational Risk Management (ORM) Testing, Monitoring, Aggregation and Reporting team is to support organizational resilience through performance of independent testing and monitoring; and establish clear guidelines through standards for reporting and risk assessments; and provide a holistic view of Operational Risk Management (ORM) through aggregated reporting.

Operational Risk Management is looking for an Analyst of Testing, Monitoring, Aggregation and Reporting to lead a diverse team of high-performing professionals focused on ensuring effective operational risk management is embedded in the day-to-day operations of our organization. It will involve extensive collaboration with multiple partners across numerous business units, functional areas, and geographies.

The Analyst, Operational Risk Management (ORM), Independent Monitoring and Testing:

·Support an independent testing and monitoring program based on an annual risk assessed plan and testing methodology

·Develop a comprehensive universe of targeted coverage for operational risk that supports a risk-based annual plan

·Independently monitor operational risk trends and activities

·Support and perform an effective challenge process based on a defined criteria and build in to annual plan

·Manage independent 2LoD testing of ORs, incl. integration of methodologies and test plans to address interconnected risks

·Coordinate a holistic, de-duplicated independent risk assessment process

·Proactively identify areas for high risk for intervention

·Support cross-functional Communities of Practice (CoPs) to share best practice techniques and pioneer new methodologies

·Drive reporting to the Enterprise Risk Management Committee, Board of Directors and Senior Management on OR topics, and provide support and oversight with associated Communities of Practice

·Be a key leader for sharing insights, better practices, themes, etc. across the enterprise

Minimum Qualifications

·1+ Year experience in operational risk management (e.g., within Risk and/or Internal Audit function) Understanding of critical operational risk management lifecycle activities 

·Project management, communication, and interpersonal skills

·Experience in process governance, with an understanding of processes that align with policies, regulatory frameworks, and/or operational standards 

·Sound analytical and problem-solving skills, with an ability to analyze data, identify trends, and evaluate risk scenarios effectively (BU-SPECIFIC)

Preferred Qualifications

·Bachelor's Degree in Finance, Business, Risk Mgmt., or related field; advanced degrees (e.g., MBA, MSc) or certifications are advantageous

·Experience in at least one of the following:

oTranslating operational risk strategy and appetite into execution guidelines

oTracking and identifying issues with Key Risk Indicator (KRI) limits and risk appetite to ensure operational risks are managed within agreed thresholds

oFacilitating the implementation of the operational risk governance frameworks

oDeveloping, communicating and ensuring understanding and adherence to operational risk procedures and standards

oSupporting the operational risk exam management processes

ORMCM

We back you with benefits that support your holistic well-being so you can be and deliver your best. This means caring for you and your loved ones' physical, financial, and mental health, as well as providing the flexibility you need to thrive personally and professionally:

American Express is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, disability status, age, or any other status protected by law.

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.

About Our Client

Prominent financial services player

Job Description

* Lead, conduct and assist the identification, assessment, monitoring and mitigation of risks throughout the group.

* Analyze and report risk profile and control performance, and benchmark processes against regulatory requirements, Company standards and industry best practices to develop and improve the Company risk management framework.

* Liaise with directors and senior managers to identify risks in their business areas, and agree the controls required to mitigate each risk. Enter those risks and controls on the risk register and ensure that the entries are consistent.

* Provide monthly updates to the Executive on current business risks and progress with action points and prepare quarterly reports for the Audit and Risk Committee. Support the Board in its ownership and management of regulatory risk (including without limitation RBI regulatory risk).

* Provide support and leadership where appropriate on specific risk projects, method changes or risk systems developments.

* Develop a continuous improvement culture where lessons learned are shared.

* Act as an exemplar of leadership values and behaviors through effective role modelling and actions.

* Ensure the Risk Function is a strong 2nd line of defense that is supportive, enabling and independently challenging to the business.

* Ensure the business manages all types of risk within agreed statements of risk appetite.

* Represent and promote the importance of robust and appropriate internal controls to senior management, advising on the response business should take to key risk and regulatory issues

The Successful Applicant

CA - with experience in a regulated entity / Big 4 with risk audit experience.

Excellent leadership skills - demonstrates gravitas, personal credibility and ability to influence.

Excellent communication and stakeholder management skills - able to communicate complex ideas in an understandable way and get people behind ideas. Able to operate independently and objectively - empowering others, building trust with peers and direct reports

Job Description

Work Location Options:

At American Express, our culture is built on a 175-year history of innovation, shared and Leadership Behaviors, and an unwavering commitment to back our customers, communities, and colleagues. As part of Team Amex, you'll experience this powerful backing with comprehensive support for your holistic well-being and many opportunities to learn new skills, develop as a leader, and grow your career.

Here, your voice and ideas matter, your work makes an impact, and together, you will help us define the future of American Express.

How will you make an impact in this role?

The objective of the Operational Risk Management (ORM) Testing, Monitoring, Aggregation and Reporting team is to support organizational resilience through performance of independent testing and monitoring; and establish clear guidelines through standards for reporting and risk assessments; and provide a holistic view of Operational Risk Management (ORM) through aggregated reporting.

Operational Risk Management is looking for an Analyst of Testing, Monitoring, Aggregation and Reporting to lead a diverse team of high-performing professionals focused on ensuring effective operational risk management is embedded in the day-to-day operations of our organization. It will involve extensive collaboration with multiple partners across numerous business units, functional areas, and geographies.

The Analyst, Operational Risk Management (ORM), Independent Monitoring and Testing:

·Support an independent testing and monitoring program based on an annual risk assessed plan and testing methodology

·Develop a comprehensive universe of targeted coverage for operational risk that supports a risk-based annual plan

·Independently monitor operational risk trends and activities

·Support and perform an effective challenge process based on a defined criteria and build in to annual plan

·Manage independent 2LoD testing of ORs, incl. integration of methodologies and test plans to address interconnected risks

·Coordinate a holistic, de-duplicated independent risk assessment process

·Proactively identify areas for high risk for intervention

·Support cross-functional Communities of Practice (CoPs) to share best practice techniques and pioneer new methodologies

·Drive reporting to the Enterprise Risk Management Committee, Board of Directors and Senior Management on OR topics, and provide support and oversight with associated Communities of Practice

·Be a key leader for sharing insights, better practices, themes, etc. across the enterprise

Minimum Qualifications

·1+ Year experience in operational risk management (e.g., within Risk and/or Internal Audit function) Understanding of critical operational risk management lifecycle activities

·Project management, communication, and interpersonal skills

·Experience in process governance, with an understanding of processes that align with policies, regulatory frameworks, and/or operational standards

·Sound analytical and problem-solving skills, with an ability to analyze data, identify trends, and evaluate risk scenarios effectively (BU-SPECIFIC)

Preferred Qualifications

·Bachelor's Degree in Finance, Business, Risk Mgmt., or related field; advanced degrees (e.g., MBA, MSc) or certifications are advantageous

·Experience in at least one of the following:

oTranslating operational risk strategy and appetite into execution guidelines

oTracking and identifying issues with Key Risk Indicator (KRI) limits and risk appetite to ensure operational risks are managed within agreed thresholds

oFacilitating the implementation of the operational risk governance frameworks

oDeveloping, communicating and ensuring understanding and adherence to operational risk procedures and standards

oSupporting the operational risk exam management processes

ORMCM

We back you with benefits that support your holistic well-being so you can be and deliver your best. This means caring for you and your loved ones' physical, financial, and mental health, as well as providing the flexibility you need to thrive personally and professionally:

American Express is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, disability status, age, or any other status protected by law.

Offer of employment with American Express is conditioned upon the successful completion of a background verification check, subject to applicable laws and regulations.

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Role purpose: To effectively execute Operational Risk Management framework, interact with Senior Management team, highlight gaps in processes/controls through effective risk assessment and governance of risk management processes in the Organization.

Job responsibilities:

1. Assist in strengthening ORM framework, participate in Risk and Control self-assessment (RCSA) exercise, identify gaps, discuss and formulate action items with process owners to bridge gaps and track action items for timely closure
2. Conduct process walkthroughs/reviews across products/processes
3. Manage OR incidents, liaise with business for RCA, resolution and corrective action plan and report OR incident report to senior management.
4. Manage Third party risk management
5. Monitor Key Risk Indicators (KRI) and highlight gaps to senior management with mitigations in consultation with business owners
6. Conduct training sessions on Operational Risk management to employees
7. Support in Business Continuity Planning (BCP) activities.

Competencies critical to the role:

1. Team player and ability to operate with tight deadlines
2. Proactiveness with a go-getter attitude
3. Strong communication & interpersonal skills with ability to effectively communicate across levels of the organization

Work experience: 10 to 15 years experience in operational risk management in Banks or NBFCs.

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.