Manager - Operational Risk Management

3 weeks ago

Mumbai, India Aegon Life Full time

Role Details:

Department: Risk

Employment Type: Full Time

Key Focus areas:

  • Manage the ORM incident management process by ensuring timely identification, recording, investigation, and closure of risk incidents through the PRISM system.
  • Monitor closure timelines and provide regular updates to the ORM Manager and relevant stakeholders.
  • Act as the first point of contact for queries related to incident reporting and facilitate consistent understanding of risk guidelines across teams.
  • Work closely with function-specific SPOCs to ensure comprehensive RCA and resolution of risk incidents.
  • Maintain a comprehensive database of risk incidents and operational losses, ensuring accuracy and integrity of data.
  • Assist the ORM Manager in preparation of periodic risk dashboards, risk reports, and presentations for senior management.
  • Support compliance with internal governance requirements by ensuring timely submission and escalation of key risk indicators and risk events.
  • Coordinate with process owners to ensure completion of RCSA exercises, and track action plans arising from identified control weaknesses. Assist in the development and periodic review of RCSA questionnaires across business functions.
  • Assist the ORM Manager in conducting risk assessments of critical operational processes across functions and recommend mitigation actions.
  • Participate in cross-functional meetings to proactively identify risks and influence adoption of best practices in risk mitigation.
  • Collaborate with cross-functional teams to assess operational risks associated with Operational processes or new product launch.
  • Provide support and training to functional Risk Champions on incident reporting, risk awareness, and ORM processes

Qualifications & Competencies:

  • Minimum 23 years of relevant experience in the Life Insurance industry

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