Manager – Operations Risk – Life Insurance

Serving Skill; Navi Mumbai; On-site; INR 1,200,000 - 1,800,000; Full time

Job summary

A prominent financial services firm in Navi Mumbai is seeking an experienced Ops Risk Manager. This role includes ensuring compliance with risk management policies and implementing a risk framework effectively. The ideal candidate will have 3-5 years of experience in risk management within life insurance, possess relevant qualifications, and be adept in risk analysis and reporting. Certifications like FRM or similar are preferred. Competitive compensation packages are offered, reflecting the candidate's expertise and role requirements.

Qualifications

• 3-5 years of relevant experience for Manager Level.
• 5-7 years of relevant experience for Chief Manager Level.
• Understanding of Life Insurance Systems, Process, and Product.

Responsibilities

• Timely reporting of exceptions/incidents and conduct root cause analysis.
• Risk analysis and Self-assessment program through implementation of robust Risk management framework.
• Conduct training programs with relevant stakeholders on various Risk management processes.

Skills

Risk Prevention & Detection

Regulatory knowledge

Analytical skills

Education

MBA / Engineering Background / CA

Certifications: FRM / PRM / IIRM / IRM

Tools

Data Visualization Tools such as Power BI

Job description

Ops Risk Manager – Life Insurance

To ensure compliance of risk management policies within the organization and perform risk management activities for effective implementation of operational risk framework

KEY RESPONSIBILITIES

• Timely reporting of exceptions/incidents and conduct root cause analysis along with mitigation plan
• Risk analysis and Self-assessment program through implementation of robust Risk management framework to ensure identification, assessment, and mitigation of risk
• Contribute towards creating Risk management culture in the organization
• To execute and do analytical quality review at portfolio level, channel level, new Product, and distributor level analysis
• To conduct risk assessment projects and mitigation by assessing and review of risk registers, risk triggers, portfolio analysis, internal/external audit reports
• Conducts training programs with relevant stakeholders on various Risk management processes
• Review of Risk Management policies/SOP on defined intervals
• Deliver Ad-Hoc Risk management projects as per defined timelines
• Ensure timely reporting to Risk Management committee and preparation of RMC deck
• Monthly Governance with all stakeholders on Open risk points and action plan
• To implement the ERM Guidelines as per COSO Standards

JOB REQUIREMENTS

• Qualifications Preferred: MBA / Engineering Background / CA
• Certifications: FRM / PRM / IIRM / IRM
• Experience: 3-5 Years of relevant experience for Manager Level, 5-7 Years of relevant experience for Chief Manager Level
• Base skill: Understanding of Life Insurance Systems, Process, and Product

Functional Competencies

• Risk Prevention & Detection: Risk analysis and control assessment
• Regulatory knowledge
• Risk Management: Certified Risk Professional (IRM, Risk Auditor, GARP- FRM, ISACA etc.)
• Analytical skills

Behavioral Competencies

• Execution Excellence
• Collaboration
• Growth through differentiation

Technical Competencies

• Data Visualization Tools such as Power BI

KEY INTERACTIONS

• Internal: Discussion with various stakeholders for risk management procedures, Ensure execution of risk management activities in liaison with stakeholders
• External: Ensure compliance for the services taken from external agencies/vendors