Risk Management Specialist (2-7 yrs)

Job Description: Risk Management Specialist

Overview:

We are looking for a Risk Management Specialist to work closely with process owners and help identify and assess risks, implement effective controls, and manage mitigation strategies. You will play a key role in assessing operational risks, automating risk metrics, and supporting the broader risk management framework across the organization.

Key Responsibilities:

- Collaborate with process owners to identify risks and assess control effectiveness.

- Conduct risk assessments and recommend mitigation strategies to address potential threats or issues impacting the organization.

- Recommend and implement risk management policies and protocols.

- Assist in the documentation of Standard Operating Procedures (SOPs).

- Use tools like MS Excel for data analysis and interpretation.

- Support project management and risk-related activities using MS Project.

- Coordinate risk management activities across functions, working closely with Risk SPOCs (Single Points of Contact) for each department.

- Facilitate and guide Risk and Control Self-Assessments (RCSA).

- Automate risk measurement and reporting metrics.

- Manage risk management projects as assigned by senior leadership.

- Maintain and update risk-related databases and tools (e.g., Loss Database, Risk & Control Self-Assessment).

Qualifications:

- 2-3 years of experience in Risk Management or Audit (for Manager role).

- 5-6 years of experience in Risk Management or Audit (for Senior Manager role).

- Professional qualifications such as CA or MBA. Risk management certifications are preferred.

Skills and Competencies:

- Strong interpersonal and relationship management skills.

- Excellent communication and presentation skills.

- Project management capabilities (preferably with MS Project).

- Knowledge of insurance principles and regulations.

- Ability to work cross-functionally and manage multiple stakeholders effectively.

- Strong analytical and planning abilities.

Performance Metrics:

- Improvement in risk ratings for identified risks.

- Positive feedback from Risk SPOCs and internal stakeholders.

- Successful automation and implementation of risk management processes