Operational Risk Manager

3 weeks ago

Hyderabad, India Magma HDI General Insurance Company Limited Full time

Locations: Hyderabad

Department: Operational Risk Management

Total Work Experience: 5+ years

Education: Graduation (III certification added advantage)


  • Initiate and develop Operational Risk processes according to defined operational risk framework, policies and standards for risk management
  • Perform regular PAN INDIA defined Branch visits for process audit and report process inefficiencies
  • Implement plan to prevent, eliminate/minimize and mitigate operational risks.
  • Drive continuous improvement in the business control environment
  • Re-design processes including opportunities for automation
  • Review existing SOPs and help in building effective design of controls for all processes
  • Performing theme based reviews, in order to identify process lapses and build strong control
  • Responsible for monitoring adherence to end processes currently at Magma HDI
  • Identify process gaps and modify the existing SOPs and also highlight fraud triggers
  • Tracking the ongoing process weaknesses and plug the gap
  • Regular defined Branch visits for process audit and report process inefficiencies
  • Prepare scorecard for assessing the efficacy of various processes across departments
  • Design and document standard practices for Branch Process Audit
  • Process and design level issues to discuss with UW and process team for closure
  • Highlight track and get the system issues fixed
  • Finding 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 Company
  • This role involves extensive traveling
  • Ability to engage with senior leadership in all aspects of Operational Risk management
  • Strong communication, interpersonal & networking skills
  • Excellent Problem solving and decision-making skills, take responsibility & establish success criteria
  • Good Technical Knowledge on General Insurance
  • Excellent working on Excel & Power Point

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