Outsourcing Governance Manager

Manager – OutsourcingGovernanceLocation: Hyderabad  | Function: Risk Management | Reportsto: Head–ERM/ORM  | Type: Full -timeKey Responsibilities Framework & Policy§  Maintain and periodically update theBoard -approved Outsourcing Policy and SOPs; embed materiality criteria, risktaxonomy, and approvals matrix.§  Support in executing the OutsourcingCommittee cadence (agenda, packs, minutes, actions) and ensure annual policyreview and Board presentation. Planning & Materiality Assessment: Classify activities (core/prohibited vs. permittedsupport services) and determine materiality thresholds, document rationale. Due Diligence & On -boarding: Lead risk -based due diligence on service providers(financial, legal, reputational, operational, info -sec, privacy, BCP/DR,HR/background checks) and ensure conflict -of -interest checks and arm's -lengthpricing for related parties. Contracts & Controls: Standardize MSA templates with Legal: ensuring riskmitigation measures along with mandatory clauses for audit/ inspection rights(insurer & IRDAI), confidentiality, data protection, sub -contractingcontrols, performance -based SLAs, exit/transition, and incident reportingtimelines. Performance Monitoring: Ensure vendor SLAs are being monitored quarterly; andfunctions are addressing the service lapses, complaints, security incidents,and regulatory breaches pertains to Outsourcing. Risk, Resilience & Security· CoordinateTPRM assessments with InfoSec/ IT Risk (VAPT/ ISMS controls), BCP/DR testing,cyber incident handling, and data -transfer controls (incl. cross -border).· Ensuringthe TPRM Risk automation covers the through due diligence, adherence andgovernance Regulatory Reporting & Record keeping· Preparereturns/annexures (e.g., annual outsourcing return with top vendors &payouts) and maintain records for the prescribed retention period.· Keepan Outsourcing Register (inventory of all arrangements, classifications,contract dates, locations, data flows, sub -processors). Change Management· Governscope changes, new technologies (AI/automation), and sub -contracting;re -perform risk assessments on significant changes and ensuring transitions/exitmanagement to avoid service disruption.· Train1st -line owners (business/ operations/ CRESA) on what can/cannot be outsourced,materiality triggers, and when to involve Compliance/ Risk/ Legal/ InfoSec. Requirements Candidate ProfileEducation: Graduate inBusiness/Finance/Engineering; preferred certifications: ISO 27001.Experience: 3–5 years overall, with 2+ years inoutsourcing governance/ TPRM/ vendor risk within Insurance/BFSI; familiaritywith IRDAI norms mandatory.Skills: Deep grasp of IRDAI outsourcing rules(prohibited/core functions, materiality, related -party controls,reporting/records), risk -based due diligence, SLA design, and contract clausenegotiation (audit rights, confidentiality, exit/DR). Benefits 1. Regulations require insurers to maintain documented governance, monitoring, audit rights, and risk controls over outsourced activities. 2. Outsourcing is a highly critical area during the regulatory inspections and IRDAI have taken many actions in this context of insurers due to lapses observed. 3. Complexity & Volume of vendors, we have multiple third parties across IT, claims processing, data services, BPM, field operations, and more. 4. Monitoring SLAs, audits, incident management, sub -contracting, and transitions is complex for a decentralized approach. 5. Risk Mitigation & Loss Prevention Gaps in vendor oversight expose us to operational, reputational, and cyber risk. 6. Governance & Audit Readiness External auditors and the internal audit team often flag outsourcing as a control risk.