Lead/Vice President

4 weeks ago


MumbaiNavi Mumbai, India iimjobs Full time

- Given below the position details with a Leading Bank :

Position : Lead ORM - Retail Liabilities

Grade : VP & Above

Reporting to the Head ORM

Location : BKC Mumbai

Note : Bank is looking for candidates with exp in ORM or Internal Audit.

Job Description :


Job Purpose :

- ORM is the second line of define which ensures all the Risk highlighted by the Business are effectively being monitored and relevants controls are in place to mitigate the Risk. The role is responsible to lead the ORM activities of the Retail Liabilities vertical of the Bank.

Roles & Responsibilities :

- Lead the Retail Liabilities (including Digital & Fintech based Lending) 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 the various Retail Liabilities 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 Retail Liabilities 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 Retail Liabilities functions are monitored and reported in line with the framework

- Own and drive the process of embedding the operational risk framework throughout the Retail Liabilities 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.



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