Operational Risk Analyst

IDFC FIRST Bank; Mumbai; On-site; INR 2,400,000 - 3,600,000; Full time

Job summary

IDFC FIRST Bank is seeking a Senior Operational Risk Analyst to lead second line risk activities across Retail Assets, Digital & Fintech Lending, and Shared Services. You will design risk coverage strategies, build scalable controls, and drive enterprise-level risk monitoring and governance.

The role requires deep knowledge of risk management practices, strong Excel/PowerPoint skills, and the ability to collaborate cross-functionally with management to implement effective mitigation actions.

Qualifications

• Graduation in any discipline from a recognized institution.
• Postgraduate in any discipline from a recognized institution.
• Minimum 6 years of relevant experience in operational risk management.
• Strong understanding of operational risk principles and frameworks.
• Experience in Retail Assets, Fintech lending operations, and related processes.

Responsibilities

• Support risk and operations functions by assessing operational risk exposure and advising on mitigation strategies.
• Define and maintain SOPs, Risk Registers, and KRIs, and monitor them regularly.
• Conduct annual RCSA.
• Analyse incidents and corrective actions.
• Review product notes from an ORM perspective.
• Ensure timely generation and dissemination of dashboards per procedures.
• Contribute to internal projects to boost departmental productivity.
• Support senior management in executing strategic initiatives and action plans.
• Recommend and implement industry best practices to strengthen risk frameworks.

Skills

Operational risk concepts

Data interpretation

Risk management

Stakeholder communication

Cross-functional collaboration

Attention to detail

Education

Graduation

Postgraduate

Tools

Excel

PowerPoint

Job description

Job Requirements

About the Role

The Senior Operational Risk Analyst plays a critical role in the second line of defense, ensuring that risks identified by business units are effectively monitored and mitigated through appropriate controls. This role involves leading operational risk management activities at the enterprise level, designing strategies for comprehensive risk coverage, and aligning the asset portfolio with the organization’s risk appetite. The position also requires building systems, processes, and a culture that supports scalable and consistent delivery of risk management practices.

Key Responsibilities

Primary Responsibilities

• Support risk and operations functions across Retail Assets (including Digital & Fintech Lending), Retail Liabilities, and Shared Services by assessing operational risk exposure and advising on mitigation strategies.
• Define and maintain Standard Operating Procedures (SOPs), Risk Registers, and Key Risk Indicators (KRIs), and monitor them regularly.
• Conduct annual Risk and Control Self-Assessments (RCSA).
• Analyse reported incidents and validated corrective and preventive actions.
• Review and approve product notes from an Operational Risk Management (ORM) perspective.
• Ensure timely generation, dissemination, and follow-up of dashboards in adherence to defined procedures and quality standards.
• Demonstrate strong knowledge of Retail Advances and related operational processes.

Secondary Responsibilities

• Contribute to various internal projects aimed at enhancing departmental productivity.
• Support senior management in executing strategic initiatives and action plans.
• Recommend and implement industry best practices to strengthen operational risk frameworks.

What We Are Looking For

Education

• Graduation: Graduate in any discipline from a recognized institution.
• Post-graduation: Postgraduate in any discipline from a recognized institution.

Experience

• Minimum 6 years of relevant experience in operational risk management.

Skills and Attributes

• Strong understanding of operational risk principles and frameworks.
• Experience in Retail Advances and Fintech-based lending operations.
• Excellent analytical and data interpretation skills.
• Proficiency in MS Office applications, especially Excel and PowerPoint.
• Effective communication skills for presenting insights to senior management and external stakeholders.
• Ability to work cross-functionally and manage multiple priorities.
• Proactive approach to identifying risks and implementing controls.