Manager-II - Operational Risk Mgmt SC

ICICI Prudential Life Insurance; Mumbai; On-site; INR 900,000 - 1,200,000; Full time

Job summary

ICICI Prudential Life Insurance is seeking an experienced risk analytics professional to join the internal risk and fraud analytics team in Mumbai. The candidate will identify, assess, and monitor operational risks across core life insurance processes and conduct risk/control assessments.

You will analyze data for unusual patterns, fraud indicators, and emerging typologies, supporting the development of fraud-detection rules and remediation tracking.

Qualifications

• 2–5 years’ experience in Operational Risk, Fraud Risk/Analytics, Internal Audit, Forensics, or Financial Services Risk.
• Strong analytical, investigative, problem-solving, and stakeholder-management skills.
• Knowledge of insurance fraud typologies, internal controls, and risk assessment frameworks.

Responsibilities

• Identify, assess, and monitor operational risks across key life insurance processes; conduct RCSA and maintain risk/control registers.
• Identify and assess fraud risks across new business, underwriting, claims, policy servicing, payments, distribution, and intermediary channels.
• Analyse data to identify unusual patterns, fraud indicators, emerging typologies, and suspicious customer/agent/policy/claim behaviour; support development of fraud-detection rules.
• Analyse operational incidents and suspected fraud cases, perform root-cause analysis, quantify impact, and coordinate investigations and closure.
• Evaluate preventive and detective controls, identify control gaps, recommend corrective actions, and track remediation to closure.
• Develop and monitor KRIs, fraud indicators, dashboards, and periodic MIS covering incidents, fraud losses, recoveries, trends, and control effectiveness.
• Use Excel/Power BI/SQL/Python or similar tools to analyse risk and fraud data, identify trends, and provide actionable insights to management

Skills

Operational Risk

Fraud Risk/Analytics

Internal Audit

Forensics

Financial Services Risk

Excel

Power BI

SQL

Python

Tools

Excel

Power BI

SQL

Python

Job description

Internal employees at level 4,5,6 can apply as well.

Key Responsibilities

• Identify, assess, and monitoroperational risks across key life insurance processes; conduct RCSA andmaintain risk/control registers.
• Identify and assess fraud risksacross new business, underwriting, claims, policy servicing, payments,distribution, and intermediary channels.
• Analyse data to identifyunusual patterns, fraud indicators, emerging typologies, and suspiciouscustomer/agent/policy/claim behaviour; support development of frauddetection rules.
• Analyse operational incidentsand suspected fraud cases, perform root-cause analysis, quantify impact,and coordinate investigations and closure.
• Evaluate preventive anddetective controls, identify control gaps, recommend corrective actions,and track remediation to closure.
• Develop and monitor KRIs, fraudindicators, dashboards, and periodic MIS covering incidents, fraud losses,recoveries, trends, and control effectiveness.
• Use Excel/Power BI/SQL/Pythonor similar tools to analyse risk and fraud data, identify trends, andprovide actionable insights to management

Preferred Profile

• 2–5 years’ experience inOperational Risk, Fraud Risk/Analytics, Internal Audit, Forensics, orFinancial Services Risk.
• Strong analytical,investigative, problem-solving, and stakeholder-management skills.
• Knowledge of insurance fraudtypologies, internal controls, and risk assessment frameworks.