Lead - Operational Risk Management

18 hours ago

Mumbai Metropolitan Region, India Magma General Insurance Limited Full time

Department: Risk Management Total Work Experience: 12 + years in General Insurance Industry Education: Chartered Accountant / MBA (Finance) – Preferred but not necessary Duties and responsibilities:- Lead and coach team members in risk identification, risk assessment/evaluation and risk treatment approaches Initiate and develop Operational Risk processes according to defined operational risk framework, policies and standards for risk management. Execution of special reviews for areas which are core, technical and high risk for the organization. Demonstrate in-depth knowledge of business risks, processes, and internal controls of the organization. Manage and perform regular PAN INDIA defined Branch visits for process audit and report process inefficiencies Review of OR Framework and related policies related to business unit Implement plan to prevent, eliminate/minimize and mitigate operational risks. Support the business to design controls to enable risk management for new products/processes Drive continuous improvement in the business control environment Re-design processes including opportunities for automation Conducting periodic reviews with management team and respective stakeholders, documenting minutes and timely closure of ATRs. Review of revised SOPs and oversee effective design of controls for all revised/ changed processes Publishing KRI Dashboard and OR Event Dashboard to Functional Heads on a periodical basis. Team management- Goal setting and monitor team performance Performing theme based reviews, in order to identify process lapses and build strong control Leading business continuity related activities Specialized skills & competencies:- Ability to engage with senior leadership in all aspects of OR management Creative, out-of-the-box thinking, always keep an eye on the future Strategic and analytical thinking Strong communication, interpersonal & networking skills Excellent Problem solving and decision-making skills, take responsibility & establish success criteria Good Technical Knowledge in General Insurance Excellent working on Excel & Power Point Team Management skills. The roles need to interact with both internal/ external stakeholders to enable success in day-to-day work. This role also would require PAN India travel

  • Lead - Operational Risk Management

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