JOB DESCRIPTION POSITION NAME Deputy Manager/Manager-Process Assurance & Risk Management DESIGNATION Deputy Manager/Manager POSITION GRADE L2/L3 DEPARTMENT Process Assurance and Risk Management SUB DEPARTMENT Process Assurance and Risk Management REPORTING POSITION L5/L6 DOTTED LINE REPORTING TO - NO. OF POSITIONS REPORTING IN - MANAGEMENT LEVEL - OBJECTIVE OF THE ROLE . The role will be responsible for overseeing the Risk Environment for the business and provide management with assurance that necessary controls are in place to mitigate risks. . To review company level policies, departmental processes and Standard Operating Procedures (SOPs), provide improvement inputs and facilitating setting up new processes. KEY RESPONSIBILITIES Operational Risk: . To ensure that a sound Risk Management Framework is established and promulgated in the Company including competition benchmarking . Develop and drive a sound, open and proactive risk culture . Working closely and collectively with functional units to support management in ensuring key risks are identified, assessed, reported and managed. . Coordinating and executing various risk initiatives such as Risk & Control Assessments (RCSA), Incident Reporting & Operational Loss reporting. . Build and maintain relationships with appropriate senior members of the business. Use these relationships to influence improvement in risk management and controls in business processes. . Develop and continuously monitor Risk awareness across the organization . To help convene Risk Management Committee and report to the Committee on Risk Management Activities of the company. . Identifying emerging operational risk areas through regular reviews, analysis, etc. . Foster an environment of continuous process improvement for optimal business delivery. . Managing IFC framework review for the company in coordination with the IFC auditor Process Assurance: . Process designing, drafting and review to ensure they are effective and efficient . Detailed review of all existing policies/processes, to provide inputs for improvement from a risk & efficiency point of view . Identification of design flaws and bottlenecks for new process set-ups and providing feasible solutions . Advising stakeholders on various operational aspects and delivering solutions to process issues from time to time . Driving efficiency projects with various stakeholders to drive excellence and optimum use of resources . Preparation of swim-lane flow charts & RACI matrix towards process simplification and define process ownership Operational Risk: . To ensure that a sound Risk Management Framework is established and promulgated in the Company including competition benchmarking . Develop and drive a sound, open and proactive risk culture . Working closely and collectively with functional units to support management in ensuring key risks are identified, assessed, reported and managed. . Coordinating and executing various risk initiatives such as Risk & Control Assessments (RCSA), Incident Reporting & Operational Loss reporting. . Build and maintain relationships with appropriate senior members of the business. Use these relationships to influence improvement in risk management and controls in business processes. . Develop and continuously monitor Risk awareness across the organization . To help convene Risk Management Committee and report to the Committee on Risk Management Activities of the company. . Identifying emerging operational risk areas through regular reviews, analysis, etc. . Foster an environment of continuous process improvement for optimal business delivery. . Managing IFC framework review for the company in coordination with the IFC auditor Process Assurance: . Process designing, drafting and review to ensure they are effective and efficient . Detailed review of all existing policies/processes, to provide inputs for improvement from a risk & efficiency point of view . Identification of design flaws and bottlenecks for new process set-ups and providing feasible solutions . Advising stakeholders on various operational aspects and delivering solutions to process issues from time to time . Driving efficiency projects with various stakeholders to drive excellence and optimum use of resources . Preparation of swim-lane flow charts & RACI matrix towards process simplification and define process ownership INTERACTIONS Internal Relations: Interacting with multiple internal stakeholders in the Company External Relations: Internal Auditors and vendors REQUIRED QUALIFICATION AND SKILLS Educational Qualifications: MBA (Full-Time) & B.E. Work Experience: 1 -2 years of experience in managing Operational Risk profile preferably in Life Insurance or banking industry & with team handling experience Certifications: Risk Management related certifications shall be preferred Six Sigma Other skill set: . Sound knowledge of back-office processes, system workflows and business controls . Ability to understand and independently review Investment (Front, Mid & Back office) controls . Highly motivated individual with multi-tasking abilities & ability to handle pressure . Excellent communication skills - verbal & written . Advanced excel . Strong Interpersonal Skills, freely develops networks . Build consensus, prioritise effectively & develops alliances across organisation COMPETENCIES Planning and Organizing 1. Identifies requirements and uses available resources to meet own work objectives in optimal fashion. 2. Completes tasks in accordance with plans. 3. Monitors the attainments of own work objectives and/or quality of the work completed. 4. Sets priorities for tasks in order of importance. Problem Solving 1. Identifies and Breaks problems into simple lists of tasks or activities, without assigning values. 2. Makes a list of items with no particular order or set of priorities. 3. Takes routine day-to-day decisions without delay. 4. May delegate authority for routine decision-making to free self -up for more important work. Achievement of Results 1. Sets goals and works to meet established expectations maintains performance levels. 2. Pursues organizational objectives with energy and persistence. Sets high personal standards for performance. 3. Adapts working methods in order to achieve objectives. 4. Accepts ownership of and responsibility for own work. 5. Takes the initiative to resolve routine problems and understands when issues should be escalated.
