Lead - Operational Risk Management - IT & ISG Vertical - Bank (12-21 yrs)

Given below the position details with a Leading Bank :

Position : Lead ORM - IT & ISG

Reporting to the: Head ORM

Grade : VP & above

Location : BKC Mumbai

Job Purpose :

- ORM is the second line of defense which ensures all the Risk highlighted by the Business are effectively being monitored and relevant controls are in place to mitigate the Risk.

- The role is responsible to lead the ORM activities of the IT&ISG vertical of the Bank.

Role & Responsibilities :

Primary Responsibilities :

- Lead the Risk review for IT&ISG by assessing the quantum of operational risk, providing a view on the level of exposure relative to risk appetite and advising on risk mitigation.

- The primary responsibilities would be to assess, measure, monitor and control and report operational risks (OR) for IT&ISG functions and evaluate whether the risk management practices are in line with the operational risk framework and policies.

Activities includes but not limited to:

- Review and approve new product/product variant rollouts prior to launch and highlight operational risks associated as part of forward looking risk management

- Defining of Standard Operating Procedures (SOPs), Risk Registers, KRIs and monitoring them.

- Review of the process and highlight key operational risk and control to mitigate and monitor residual risk.

- Analyzing of Incidents being reported and verifying the Corrective and Preventive actions.

- To conduct the Risk & Control Self Assessment for various units and publish major issues and recommendation basis testing results

- Conduct ad-hoc thematic reviews basis directions from various Committees / Businesses for IT&ISG domain.

- Support the Head - Operational Risk to rollout the operational risk framework and strategy for the Bank within an agreed timeframe with particular emphasis on the risk and control self-assessments. This includes defining the Operational Risk governance, top risks reporting, risk appetite & tolerance metrics, strong control inventory framework, capital assessment as per the Basel norms and various reporting.

- Support the Operational Risk Head to manage and constantly enhance the Operational Risk Management Committee reports to ensure the dashboard on risk performance is well developed and appropriate

- Manage and participate in various Business Operational Risk Management committees and ensue risk profile of the IT&ISG functions are monitored and reported in line with the framework

- Own and drive the process of embedding the operational risk framework throughout the IT&ISG areas and contribute to the risk and control culture of the organization through knowledge sharing and awareness on the importance of risk management

- Give quality advice, guidance and training to the business lines so that the business owners and BORM's can manage its risks and meet its regulatory obligations

- Promote an appropriate culture of awareness and attention to OR throughout the bank in line with evolving regulatory requirements by embedding the three lines of defense and enhancing the OR reporting and governance.

Secondary Responsibilities :

- Working on various projects and actionable as and when advised by the senior management.

- Working on various internal projects to enhance the productivity of the department.

- Suggesting and implementing the best industry practices.

Managerial & Leadership Responsibilities :

- Build and maintain credible relationships with internal and external stakeholders including external and internal audit.

- Engage with Stakeholders at Senior Management levels, Business Operational Risk Managers (BORM) and Risk & Compliance functions providing support for risk-based decision making and assurance that controls are functioning well within the first line of defense.

Key Success Metrics :

- Adherence to the bank defined framework of the Operational Risk Management.

- As per the metric defined from time to time in the KRAs.