Lead - Operational Risk Management

8 hours ago


Mumbai, India Magma General Insurance Limited Full time

Department: Risk Management Total Work Experience: 12 + years in General Insurance IndustryEducation: Chartered Accountant / MBA (Finance) – Preferred but not necessaryDuties and responsibilities:-Lead and coach team members in risk identification, risk assessment/evaluation and risk treatment approachesInitiate 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 inefficienciesReview of OR Framework and related policies related to business unitImplement plan to prevent, eliminate/minimize and mitigate operational risks.Support the business to design controls to enable risk management for new products/processesDrive continuous improvement in the business control environmentRe-design processes including opportunities for automationConducting 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 processesPublishing KRI Dashboard and OR Event Dashboard to Functional Heads on a periodical basis.Team management- Goal setting and monitor team performancePerforming theme based reviews, in order to identify process lapses and build strong controlLeading business continuity related activitiesSpecialized skills & competencies:-Ability to engage with senior leadership in all aspects of OR managementCreative, out-of-the-box thinking, always keep an eye on the futureStrategic and analytical thinkingStrong communication, interpersonal & networking skillsExcellent Problem solving and decision-making skills, take responsibility & establish success criteriaGood Technical Knowledge in General InsuranceExcellent working on Excel & Power PointTeam 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



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    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...


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