Risk Manager - Life Insurance (7-8 yrs)

About the Role:

We are seeking a highly motivated and experienced Regional Risk Manager to join our dynamic team in Lucknow. The ideal candidate will possess a strong background in risk management within the life insurance industry, with a proven track record of identifying, assessing, and mitigating risks. This role will be pivotal in ensuring the effective implementation of our risk management framework across the regional offices, maintaining compliance with relevant standards, and fostering a robust risk culture.

Key Responsibilities:

1. Risk Identification & Assessment:

- Conduct comprehensive branch risk reviews to identify potential risks across various operational areas, including sales, underwriting, claims, and customer service.

- Lead and facilitate Risk and Control Self-Assessment (RCSA) exercises to evaluate the effectiveness of existing controls and identify control gaps.

- Perform information security assessments to ensure the confidentiality, integrity, and availability of sensitive data.

- Analyze and interpret risk data to identify trends and emerging risks.

- Develop and maintain risk registers and risk maps.

2. Risk Management Implementation:

- Ensure the implementation of risk management initiatives and policies across all regional offices, aligning with the company's overall risk appetite.

- Collaborate with branch managers and department heads to implement effective risk mitigation strategies.

- Monitor the implementation of corrective actions and preventive measures to address identified risks.

- Provide guidance and support to regional teams on risk management best practices.

3. ISO Compliance & Audits:

- Support the company in achieving and maintaining compliance with relevant ISO standards, including ISO 22301 (Business Continuity Management), ISO 27001 (Information Security Management), and ISO 31000 (Risk Management).

- Assist in the preparation and coordination of internal and external audits related to ISO certifications.

- Conduct internal audits to assess the effectiveness of risk management controls and compliance with regulatory requirements.

- Ensure timely resolution of audit findings and recommendations.

4. Business Continuity Planning (BCP):

- Develop, implement, and maintain Business Continuity Plans (BCPs) for all regional branches, ensuring operational resilience in the face of disruptions.

- Conduct regular fire drills and other emergency preparedness exercises to test the effectiveness of BCPs.

- Ensure that BCPs are regularly reviewed and updated to reflect changes in the business environment and regulatory requirements.

- Coordinate with relevant stakeholders to ensure the availability of necessary resources for BCP implementation.

5. Monitoring & Reporting:

- Develop and maintain risk scorecards and dashboards to track key risk indicators and monitor the effectiveness of risk management controls.

- Analyze audit reports and provide recommendations for improvement.

- Prepare and present regular risk reports to senior management, highlighting key risk exposures and mitigation strategies.

- Ensure timely follow-up on audit findings and risk mitigation actions.

- Monitor and report on the effectiveness of implemented controls.

6. Risk Awareness & Training:

- Develop and deliver risk awareness programs and training sessions for employees at all levels.

- Conduct audits to assess employee understanding of risk management policies and procedures.

- Promote a strong risk culture across the organization by fostering open communication and awareness of risk management principles.

- Provide ongoing support and guidance to employees on risk-related matters.

- Ensure that all staff are aware of their individual responsibilities in managing risk.

Qualifications & Experience:

- Bachelor's/ master's degree in a relevant field (e.g., Finance, Risk Management, Business Administration).

- Minimum 7+ years of experience in risk management within the life insurance industry is mandatory.

- Strong understanding of life insurance products, operations, and regulatory requirements.

- Proven experience in conducting risk assessments, developing risk mitigation strategies, and implementing risk management frameworks. -

- Experience with ISO standards (ISO 22301, ISO 27001, ISO 31000) is highly desirable.

- Excellent analytical, problem-solving, and decision-making skills.

- Strong communication and interpersonal skills, with the ability to influence and collaborate with stakeholders at all levels. -

- Proficiency in MS Office Suite (Excel, PowerPoint, Word).

- Certifications in risk management (e.g., CRISC, RIMS-CRMP) are an advantage.