Chief Risk Officer

1 month ago


Chennai, India iimjobs Full time

Chief Risk Officer (CRO)


Position Overview: As the Chief Risk Officer (CRO) for our IGSS, you will be responsible for overseeing the identification, assessment, monitoring, and mitigation of risks that could potentially threaten the IGSS's stability and reputation.

With 10-20 years of experience in risk management, you will lead our risk management team in developing and implementing strategies to manage various risks effectively.

Key Responsibilities:

1. Risk Governance and Strategy:

- Develop and implement risk management policies, procedures, and frameworks aligned with the bank to its subsidiary's objectives, risk appetite, and regulatory requirements.

- Define risk management strategies and ensure their integration into the overall business strategy.

- Provide guidance and direction to senior management and the board on significant risk issues.

2. Risk Assessment and Monitoring:

- Identify, assess, and prioritize risks across all business units and activities, including Information security risk, operational risk, business continuity and compliance risk.

- Implement robust risk measurement methodologies and tools to quantify and monitor risks effectively.

- Establish key risk indicators (KRIs) and triggers to enable early warning of emerging risks.

3. Risk Mitigation and Controls:

- Develop and implement risk mitigation strategies and controls to minimize exposure to identified risks.

- Ensure the adequacy of risk controls and procedures through regular reviews, testing, and validation.

- Collaborate with business units to implement remedial actions and enhancements to mitigate identified risks.

4. Regulatory Compliance:

- Stay abreast of regulatory developments and ensure compliance with relevant laws, regulations, and industry standards.

- Liaise with company secretary, Chief Financial officers and regulators on risk-related matters, examinations, and audits.

- Prepare and submit required risk management reports to regulatory authorities and the board.

5. Risk Culture and Awareness:

- Promote a strong risk culture across the organization by fostering awareness, accountability, and transparency.

- Provide training and educational programs on risk management principles and practices to employees at all levels.

- Encourage open communication and collaboration to facilitate the identification and escalation of risks.

6. Conducting Internal Audits:

- Plan and execute comprehensive internal audits to assess the effectiveness of financial, operational, and compliance controls.

- Evaluate the adequacy of internal controls and recommend improvements to mitigate risks and enhance operational efficiency.

- Review financial statements, accounting records, and other relevant documents to ensure accuracy and compliance with regulatory requirements.

7. Continuous Improvement:

- Participate in the development and enhancement of internal audit methodologies, tools, and processes.

- Provide training and guidance to staff on internal control practices and compliance requirements.

- Proactively identify opportunities for process improvements and operational efficiencies.

Qualifications and Skills:

- Bachelor's degree in Finance, Economics, Business Administration, or a related field. Master's degree or professional certifications (e.g., FRM, PRM, CA) preferred.

- Candidates with CA background is required and previous audit experience in Banks, NBFC and in Financial service industries will be preferred.

- Proven experience (10-12 years) in risk management roles within the banking or financial services industry, with a deep understanding of various risk types and regulatory requirements.

- Experience in Retail Banking will be an added advantage

- Strong analytical skills with the ability to assess complex risks and develop effective mitigation strategies.

- Excellent leadership and communication skills, with the ability to influence stakeholders at all levels of the organization.

- Sound judgment and decision-making abilities, especially in high-pressure situations.


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