Operational Risk Manager

2 weeks ago

Chennai, Tamil Nadu, India Muthoot Fincorp Ltd. Full time

Manager – Operational Risk

Role Summary

The Operational Risk Manager's role is envisaged to support establishing robust risk management systems in the company. This would include identification, measurement and mitigation of potential operational risks and, thus, minimize potential operational losses. The role is also envisaged to support ensuring compliance with regulation and internal policies apart from reporting of key operational risk elements to relevant stakeholders in a timely manner.

Key Requirements

Analytical Abilities

  • Risk identification, measurement, mitigation and management: Conduct comprehensive operational risk assessments on all operational aspects of the Company, including loan origination, loan processing, collateral management, customer service, technology, compliance, and human resources. Identify potential operational risks through data analysis, process reviews, stakeholder interviews, and internal audits.
  • Develop and implement effective risk mitigation strategies, including process improvements, control enhancements, and contingency plans to address identified operational risks.
  • New products & initiatives: Evaluate and articulate the likely operational risks that the company may confront in its new products, processes or new initiatives.
  • Risk Monitoring: Monitor the effectiveness of operational risk controls and improve controls wherever required.
  • Policy formulation and implementation: Develop business unit-wise and company-wide operational risk management policy and risk appetite statement.
  • Compliance: Ensuring compliance with all regulatory and legal requirements with respect to operational risk management function.
  • Regulatory: Keep updated on regulatory changes and ensure incorporation of appropriate changes in the company's policies and procedures.
  • Keeping track of sectoral/industry/regulatory developments: Tracking developments in the industry / sector and economy in the operational risk segment and incorporate the same into Company's policies/plans.
  • Contingency Plans: Develop contingency plans for potential adverse operational risk events.
  • Crisis Management: Assess the damage, taking necessary steps for recovery and restoring the business continuity at the earliest.
  • Training: Support education and training initiatives to build operational risk awareness in the Company.

Reporting and Communication

  • Prepare regular operational risk management reports for senior management and Board of Directors carrying key risk indicators, trends, risk concerns and mitigation strategies
  • Facilitate discussions within the risk management committee of the board and other board committees on operational risk aspects.

Stakeholder Management

  • Liaise with and provide support to various teams including business, operations, legal, finance, treasury and human resources to ensure effective management of operational risk.

Key Skills and Behavioural attributes

  • Strong understanding of operational risk management principles and practices.
  • Ability to sift through the vast amount data and identify key items required for decision making.
  • Ability to support the conclusions in a logically manner backed by required data and present the findings in a convincing manner
  • Excellent ability to communicate complex risk information to the senior management with strong conviction
  • Tactfulness and solution centric approach
  • Strong process orientation
  • An eye for detail

Education/Experience

  • Any Bachelor's or Master's degree from a reputed university. Preference would be given to Chartered Accountants or candidates with PG diploma or degree from reputed management institutions. Risk Management Certifications obtained from reputed global or national level institutions would be an added advantage
  • Proven ability to identify, assess, and mitigate operational risks
  • 5 – 7 years of experience in operational risk management in NBFC or bank
  • Expertise in operational risk management, including loan origination, collections, technology and customer service
  • Experience in developing and implementing operating risk management models and frameworks.

Job Locations

Trivandrum, Bengaluru & Chennai

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