Operational Risk Manager

Aviva India; Gurugram District; On-site; INR 2,400,000 - 4,000,000; Full time

Job summary

Aviva India Life Insurance seeks an experienced Operational Risk Manager to lead and strengthen the risk framework across the business. The role focuses on identifying, assessing, and mitigating risks, developing policies, and elevating risk awareness among stakeholders.

The position requires 5–7 years in risk management within financial services, with CA/CIA qualifications preferred, and a proactive, collaborative approach to drive strong controls in a fast-paced environment.

Qualifications

• Strong analytical and problem solving skills to identify, assess and prioritize risks.
• Excellent presentation and documentation skills for senior stakeholders.
• Attention to detail in a fast-paced environment and good communication abilities.

Responsibilities

• Lead the operational risk management framework aligned with industry best practices and regulatory requirements.
• Identify, assess and mitigate operational risks across all business functions.
• Develop and implement risk management strategies and policies.
• Build risk awareness and control consciousness throughout the company.
• Develop, implement and maintain the Operational Risk Management Framework.
• Conduct risk assessments and suggest controls to keep risks within appetite.
• Monitor and report on operational risk metrics and trends.
• Manage operational risk incidents and remediation.
• Provide guidance and training on risk management to cross-functional teams.
• Collaborate with senior management to drive risk culture and governance.

Skills

Analytical skills

Communication

Stakeholder engagement

Risk assessment

Documentation

Decision making

Education

Bachelor's degree in Finance/Business/Risk Management

CIA/CISA certification (advantage)

Tools

Risk management frameworks

Job description

Aviva India Life Insurance is committed to ensuring the highest standards of operational risk management, aligning with industry best practices and regulatory requirements. Our culture fosters strong risk awareness and control consciousness within the organization.

About the Role

The jobholder has the following responsibilities:

Responsibilities

• To lead and manage the operational risk management framework for Aviva India Life Insurance ensuring its alignment with industry best practices, Aviva Group framework and regulatory requirements.
• To proactively identify, assess and mitigate operational risks across all business functions within the organization.
• To contribute to the development and implementation of risk management strategies and policies.
• To contribute towards building strong and effective risk awareness and control consciousness within the Company.
• Develop, implement and maintain the Operational Risk Management Framework.
• Conduct operational risk assessments and identify potential risks and suggest controls to ensure that risks remain within defined appetite.
• Develop and implement risk mitigation strategies and controls.
• Monitor and report on operational risk metrics and trends.
• Manage operational risk incidents and ensure timely remediation.
• Provide support, guidance and training to cross functional stakeholders on risk management.
• Work with management, and by assessing local risks, gain an overall understanding of the company risk profile, and assess compliance with the overall firm risk assessment framework. Utilize that information in identifying, and driving changes in internal and external environments that will impact risk profile and audit work.
• Build relationships with internal and external key stakeholders to assist in understanding the business, and using those forums when appropriate and necessary, to influence executives and other decision makers to embrace the adoption or implementation of measures to strengthen internal controls.
• Collaborate with internal stakeholders, including senior management to drive a culture of risk awareness and accountability.
• Stay abreast of regulatory developments and ensure compliance with relevant regulatory regulations and guidelines governing operational risk management.

Qualifications

• Bachelor's degree in Finance, Business Administration, Risk Management, Insurance or related field.
• Chartered Accountant, membership of CIA/CISA being an advantage.
• Relevant risk professional certification would be an added advantage.

Required Skills

• Strong analytical and problem solving skills with ability to identify, assess and prioritize risks effectively.
• Strong presentation and documentation skills.
• Excellent communication and interpersonal abilities to engage with stakeholders at all levels of the organization.
• Proficiency in risk management tools and techniques, including risk assessment methodologies.
• Attention to details and ability to prioritize tasks effectively in a fast paced environment.
• Sound understanding of insurance products and processes would be an added advantage.
• High energy levels and decision making capabilities that support robust execution of plans.
• Skills in strategizing, planning and delivering alternate approaches aimed at enhancing business results in a demanding environment.

Preferred Skills

• Progressive experience of around 5 to 7 years in operational risk management within the financial services industry, preferably in insurance sector.
• Should have interacted and worked along with senior management in previous organizations' exhibiting maturity, tact and diplomacy.
• Experience of writing reports for and making presentations to senior management is desirable.
• Experience of a multi-cultural working environment is desirable.
• Experience of working in a fast moving environment and ability to work at pace.