Associate Director, FS Risk Consulting - Global Capability Center

Alvarez & Marsal; Gurugram District; On-site; INR 4,000,000 - 7,500,000; Full time

Job summary

Alvarez & Marsal in India is seeking a seasoned risk consulting professional to lead and deliver complex risk management programs for financial institutions across banking, insurance, and capital markets. The role combines advisory strategy with hands-on execution in dynamic client environments.

You will build relationships with senior stakeholders, guide risk framework design and governance, and mentor a team of consultants to deliver measurable impact while advancing practice offerings and

Qualifications

• 12–14 years of risk consulting experience in a top firm.
• Exposure to multiple risk domains: enterprise, credit, market, operational, conduct, compliance, and cyber risk.
• Strong grasp of Basel III/IV, PRA/FCA, ECB, RBI, IRDAI regulatory requirements.
• Experience in transformation delivery: target operating models and automation of risk processes.
• Analytical skills with experience in risk data, MI, and control assessment frameworks.

Responsibilities

• Lead risk consulting engagements across banking, insurance, and capital markets.
• Design and implement risk frameworks, governance structures, risk appetite frameworks, and control testing mechanisms.
• Support risk operating model design and risk technology enablement.
• Oversee risk monitoring, MI reporting, and board dashboards for decision-making.
• Develop and refine risk policies, governance frameworks, and regulatory alignment.
• Mentor and grow a team of consultants and analysts to deliver high-quality risk advisory work.

Skills

Risk consulting

Stakeholder management

Team leadership

Regulatory knowledge

Job description

About Alvarez & Marsal

Alvarez & Marsal (A&M) is a global consulting firm with over 10,000 entrepreneurial, action and results-oriented professionals in over 40 countries. We take a hands‑on approach to solving our clients' problems and assisting them in reaching their potential. Our culture celebrates independent thinkers and doers who positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M's core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are why our people love working at A&M.

The Team

We are looking for an accomplished risk consulting professional with experience advising and enabling financial services institutions in strengthening their risk management, governance, and control environments. The ideal candidate will have deep, cross-domain expertise in enterprise risk management, credit, market, and operational risk, non‑financial risk (including conduct, compliance, and cyber risk), and risk transformation programs. This role demands a mix of strategic advisory capability and operational execution, with a strong understanding of risk frameworks, regulatory expectations, and leading industry practices. The individual should be entrepreneurial, proactive, and comfortable working in dynamic, fast‑paced client environments—capable of building relationships with senior stakeholders and leading multidisciplinary teams to deliver measurable impact.

How You Will Contribute

• Lead Risk Consulting Engagements: Lead and deliver complex risk management and governance consulting programs for financial institutions across banking, insurance, and capital markets.
  • Drive risk framework design and implementation, including policy development, governance structures, risk appetite frameworks, and control testing mechanisms.
  • Support clients in risk operating model design, risk technology enablement, and process re‑engineering to enhance effectiveness and compliance.
• Risk Domains Coverage: Provide advisory and transformation support across a broad range of risk consulting domains, including:
  • Enterprise Risk Management (ERM): Risk identification, prioritization, and mitigation frameworks.
  • Credit Risk: Portfolio analytics, risk measurement, credit process redesign, and model governance.
  • Market Risk: Risk reporting, limit frameworks, and trading risk processes.
  • Operational Risk: Process control design, scenario analysis, and loss data collection.
  • Non-Financial Risks: Conduct, compliance, reputational, ESG, and third‑party risk management.
  • Technology and Cyber Risk: Risk frameworks, resilience assessments, and regulatory alignment.
• Policy, Governance & Framework Development: Develop and refine risk policies, standards, and governance frameworks for both new and established financial institutions.
  • Support regulatory readiness, policy harmonization, and the alignment of governance structures to Basel, PRA, FCA, and other regulatory requirements.
  • Establish risk appetite frameworks, RCSA methodologies, and KRI dashboards for continuous monitoring and reporting.
• Risk Monitoring & Reporting: Oversee the design and implementation of risk monitoring processes and control testing programs for financial and non‑financial risks.
  • Partner with clients to enhance risk data aggregation, MI/reporting, and Board‑level dashboards for better decision‑making.
  • Recommend process and system improvements to strengthen internal risk oversight and compliance effectiveness.
• Client Advisory & Relationship Management: Act as a trusted advisor to onshore teams, senior client stakeholders, risk committees, and Board members on emerging risk issues, regulatory expectations, and transformation priorities.
  • Support business development through proposal creation, solution design, and thought leadership on emerging risk trends
• Team Leadership & Practice Development: Lead, mentor, and grow a team of consultants and analysts to deliver high‑quality risk advisory work.
  • Contribute to practice growth, including development of new service offerings, methodologies, and alliances in risk consulting.

Qualifications

• Experience: 12–14 years of relevant experience in risk consulting within a top consulting firm.
• Domain Breadth: Proven exposure to multiple risk domains (enterprise, credit, market, operational, conduct, compliance, technology/cyber, ESG).
• Regulatory Understanding: Strong grasp of global and local regulatory requirements (e.g., Basel III/IV, PRA/FCA, ECB, RBI, IRDAI).
• Transformation Delivery: Experience in risk process and governance transformation programs, including target operating model design and automation of risk processes.
• Analytical Skills: Strong quantitative and qualitative analytical capability, with experience in risk data, MI, and control assessment frameworks.
• Client Leadership: Demonstrated ability to engage senior client stakeholders and manage delivery of multi‑stakeholder engagements.
• People Leadership: Experience managing and developing high‑performing teams in a consulting or risk advisory context.

Your journey at A&M

We recognize that our people are the driving force behind our success, which is why we prioritize an employee experience that fosters each person's unique professional and personal development. Our robust performance development process promotes continuous learning, rewards your contributions, and fosters a culture of meritocracy. With top‑notch training and on‑the‑job learning opportunities, you can acquire new skills and advance your career. We prioritize your well‑being, providing benefits and resources to support you on your personal journey. Our people consistently highlight the growth opportunities, our unique, entrepreneurial culture, and the fun we have together as their favorite aspects of working at A&M. The possibilities are endless for high‑performing and passionate professionals.