Operational Risk Manager

2 weeks ago


Hyderabad, India Magma HDI General Insurance Company Limited Full time
Locations: HyderabadDepartment: Operational Risk ManagementTotal Work Experience: 5+ yearsEducation: Graduation (III certification added advantage)

Initiate and develop Operational Risk processes according to defined operational risk framework, policies and standards for risk managementPerform regular PAN INDIA defined Branch visits for process audit and report process inefficienciesImplement plan to prevent, eliminate/minimize and mitigate operational risks.Drive continuous improvement in the business control environmentRe-design processes including opportunities for automationReview existing SOPs and help in building effective design of controls for all processesPerforming theme based reviews, in order to identify process lapses and build strong controlResponsible for monitoring adherence to end processes currently at Magma HDIIdentify process gaps and modify the existing SOPs and also highlight fraud triggersTracking the ongoing process weaknesses and plug the gapRegular defined Branch visits for process audit and report process inefficienciesPrepare scorecard for assessing the efficacy of various processes across departmentsDesign and document standard practices for Branch Process AuditProcess and design level issues to discuss with UW and process team for closureHighlight track and get the system issues fixedFinding to be shared with Stakeholder for feedback, post the report to be shared.

Specialized skills & competencies,

Need candidate with experience in handling Operations / Operational Risk Management of a General Insurance CompanyThis role involves extensive travelingAbility to engage with senior leadership in all aspects of Operational Risk managementStrong communication, interpersonal & networking skillsExcellent Problem solving and decision-making skills, take responsibility & establish success criteriaGood Technical Knowledge on General InsuranceExcellent working on Excel & Power Point



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