Associate Vice President - Enterprise Risk Management

Tata AIG General Insurance Company; Mumbai; On-site; INR 4,000,000 - 7,000,000; Full time

Job summary

Tata AIG General Insurance Company seeks an Associate Vice President for Enterprise Risk Management to lead risk governance, assessment, measurement and monitoring across enterprise and financial risks in line with industry best practices.

The role focuses on developing and implementing the ERM framework, coordinating with CRO and risk committees, and ensuring timely risk reporting and policy deployment within the organization.

Qualifications

• CA or MBA Finance with 8-12 years of experience in general/life insurance industry, Internal audit, Enterprise risk management.
• Certifications - Preference for FRM/Cleared few Actuarial papers, Associate of Insurance Institute of India -Mandatory, Fellow of Insurance Institute of India.

Responsibilities

• Engage with business functions to respond to risk management issues.
• Prepare dashboards for Board Risk Management Committee and ERM governance.
• Maintain risk registers for enterprise, operational and emerging risks; set limits and quarterly reporting rhythm.
• Support ERM framework implementation and conduct assurance reviews per CRO and ERM committees.
• Develop risk policies for Insurance Risks and monitor compliance across teams.

Skills

Internal audit

Analytical skill

Underwriting controls

Operational controls

Reinsurance

Communication skill

Advance Excel

PPT

Education

CA

MBA Finance

Job description

Role : Associate Vice President Enterprise Risk Management

Job profile:

To meet the requirements of the deliverables of Risk Governance for Enterprise Risk Management as per objectives. Responsible to assess, analyse, measure, and monitor the enterprise risks in areas of Insurance and Financial risk.

Responsibilities:

1. Engage and develop effective working relationships with business functions to seek responses to risk management matters and issues.
2. Risk Management Reporting & Governance -Ensuring timely preparation of Dashboards for Board Risk Management Committee, Internal Committee on risk management, ERM Dashboard, FCR and participating in the risk-based supervision framework projects.
3. Maintain the various risk register for enterprise, operational and emerging risk by working along with key operating members of the organization. Build the limits and thresholds for each risk and establish a quarterly rhythm for reporting.
4. ERM Framework Implementation- Conduct assurance review of identified areas by CRO, Internal Committee on risk management, Board Risk Management, Participate and support in ERM implementation projects with best practices and benchmarking with international standards.
5. Support development of risk policies for Insurance Risks and deploy the Risk Management Framework to required teams; Oversee & monitor adherence and compliance to risk policies, standards & procedures specifically for insurance and financial risks.
6. Coordinating with the functions to analyse the progress of the corrective actions. Publishing the Risk vs Control dashboard. Implement Control testing framework, Conduct periodic control testing.
7. Coordination with respective function for regulatory requirements related to Risk Based Supervision Framework

Qualification:

CA or MBA Finance with 8-12 years of experience in general/life insurance industry, Internal audit, Enterprise risk management, knowledge of Underwriting controls, Operational Controls, Reinsurance, design and operating effectiveness testing, technical audit.

Certifications -Preference for FRM/Cleared few Actuarial papers, Associate of Insurance Institute of India -Mandatory, Fellow of Insurance Institute of India.

Skill Required:

1. Internal audit
2. Analytical skill
3. Good knowledge of underwriting, claims, reinsurance, operation
4. Good Communication skill
5. Advance Excel
6. PPT