Enterprise Risk Management Manager

SBI Life; Mumbai; On-site; INR 900,000 - 1,500,000; Full time

Job summary

SBI Life in Mumbai is seeking a risk management professional to lead risk assessments and RCSA activities within the ERM vertical. You will collate risks, support audits, and coordinate with various departments to drive timely issue closure.

The role expects CA qualification with up to 3 years of risk/audit experience, plus familiarity with life insurance. ISO standard implementation and training duties are also included in this position.

Qualifications

• Chartered Accountant with 1–3 years of experience in risk or internal audit.
• Graduate/PG with 5–7 years in risk reviews or audits; life insurance domain preferred.
• Certifications like CFE/ARM or III credentials are desirable.
• Experience with ISO standards (9001, 31000, 22301, 27001) is an advantage.

Responsibilities

• Conduct risk assessments of processes and provide recommendations.
• Review RCSA documents and assist process owners with updates and closure.
• Monitor FKRI and report trends with action plans for thresholds.
• Support ISO 31000:2018 implementation and audit activities.
• Create risk awareness materials and collaborate with all functions.

Skills

Risk assessment

Internal audit

Process reviews

Control testing

Education

Chartered Accountant

Graduate / Postgraduate

Tools

ISO 9001

ISO 31000

ISO 22301

ISO 27001

Job description

Department - Risk Management - ERM Vertical

Location- Mumbai Head Office (Andheri)

Key Responsibilities

1. Conduct Risk Assessments of various processes

• Conduct Process Risk assessment/Process reviews to give an assurance that process is working as expected.
• Identify gaps and provide recommendations for addressing the same
• Reporting of observations along with actionable to senior management
• Ensure timely closure of Open Actionables in coordination with concerned function / risk owner

2. Risk and Control Self-Assessment process

• Review RCSA document and update the same to keep it current
• Conduct control testing and assist the process owners in the same
• Ensure that control testing is appropriately followed by process owners
• Document issues identified during control testing and follow-up for closure
• Ensure timely reporting of issues identified and action taken to address the same
• Preparation of necessary reports to highlight trends at function and company level

3. Review & Monitoring of Functional Key Risk Indicators (FKRI)

• Review of Functional Key Risk Indicators
• Collate the functional inputs, analyze, monitor and report functional KRIs vis-a-vis the approved benchmarks.
• Review threshold breaches, obtain justification / action plans for threshold breaches and follow-up for closure of the same.
• Preparation of analysis and presentation for RMC E and RMC B

4. Implementation of ISO 31000:2018 Risk Management

• Ensuring adherence as required by ISO 31000:2018
• Timely review and monitoring of documentation as required by ISO 31000:2018
• Handling the audit of ISO 31000:2018

5. Other Risk Related Activities

• Create Risk awareness and Training for Risk Officers and all functions.
• Assist in creating documentation /presentations for award nomination
• Assist in adhoc analysis as required by the management from time to time.
• Communicate and Collaboration with all functions for effective risk management

Critical Competencies

• Chartered Accountant with 1 to 3 years of experience.
• Graduate / Postgraduate with 5 to 7 years of experience.
• Experience in risk reviews / process audits/Internal audit would be preferred, Life Insurance domain experience preferred
• Certifications like CFE / ARM / Fellow / Licentiate / Associate from III or any other risk related certification would be desirable
• Lead Implementer / Internal Auditor for ISO Standards like ISO 9001, 31000, 22301, 27001 would be added advantage

Key Interactions

• All departments including but not limited to Operations, Channel Admin, HR, Planning & Budgetary, CFIC, Audit, Brand & Corp Communication, Compliance, IT
• Risk Officers
• Head of Departments
• Process Owners