Operational Risk Manager

QuintEdge; Mumbai; On-site; INR 4,000,000 - 7,000,000; Full time

Job summary

Kotak Mahindra Bank is seeking an AVP/DVP in Operational Risk based in Mumbai. You will oversee Third-Party Risk Management, outsourcing oversight, and risk governance across the vendor lifecycle, ensuring regulatory alignment and robust control environments.

The role demands 8-10 years in operational or outsourcing risk within banking/financial services, with expertise in RBI guidelines, risk analytics, and board reporting. Proficiency in Excel and Power BI is advantageous.

Qualifications

• Advanced knowledge of risk analytics and dashboarding.
• Understanding of RBI guidelines and governance frameworks.
• Experience with policy development and control design.

Responsibilities

• Governance & Regulatory Compliance: strengthen outsourcing risk policies and frameworks; conduct regulatory gap assessments.
• Oversight of third-party risk, onboarding, renewal, and off-boarding; ensure policy adherence.
• Independent risk assessment across vendor performance, financial health, sub-contracting, and cyber risk.
• Prepare governance dashboards and board notes; report risk themes to senior management.
• Lead thematic reviews to identify systemic issues and risk concentrations.

Skills

Risk Analytics

Regulatory Compliance

RBI Governance

Policy & Framework

Board Reporting

Stakeholder Management

Executive Communication

Analytical Thinking

Tools

Excel

Power BI

Job description

# Operational Risk ManagerKotak Mahindra BankMumbai, Maharashtra, IndiaFull Time8-10 yearsRisk ManagementApply nowRecently posted## Job descriptionAVP/DVP Operational Risk• Third Party Risk ManagementSupport the Bank's Third-Party Risk Management and Outsourcing Risk Management function through independent risk oversight, challenge, monitoring and governance of outsourcing arrangements.The role is responsible for assessing the effectiveness of controls implemented by the First Line of Defence (LoD1), identifying emerging outsourcing risks, ensuring regulatory compliance, and strengthening the outsourcing risk framework.Key Responsibilities:Governance & Regulatory ComplianceStrengthen the Outsourcing Policy and TPRM Frameworks across the Bank.Perform regulatory gap assessments against RBI guidelines, Master Directions and other applicable regulatory requirements.Drive implementation of regulatory changes and monitor compliance across businessSupport regulatory inspections, supervisory reviews and internal audits relating to outsourcing and third-party risk.Material Outsourcing Review & OversightConduct half-yearly reviews of material outsourcing arrangements to assess compliance with regulatory and internal policy requirements.Evaluate the adequacy of risk assessments, monitoring mechanisms and control environment maintained by business owners.Identify gaps, control weaknesses and emerging risks, and recommend appropriate corrective actions and risk mitigants.Monitor closure of observations and action plans arising from reviews.Risk Governance for Vendor LifecycleProvide independent risk oversight over onboarding, renewal, periodic review and off-boarding processes executed by the First Line.Assess adherence to policy requirements and approved risk management standards across the vendor lifecycle.Review exceptions, risk acceptance requests and control deviations, and provide independent risk views.Independent Risk Assessment & MonitoringReview and challenge assessments & risk management practices relating to:Vendor performance and service delivery.Financial health and viability of service providersSub-contracting arrangementsInformation security and cyber risk assessmentsInternal and external incidentsAudit and regulatory observations.Business continuity and resilience arrangements.Concentration and dependency risks.Adverse media and reputational concerns.Assess effectiveness of controls and recommend enhancements to mitigate residual risks.Board & Senior Management ReportingPrepare dashboards and analytical insights for senior management.Lead preparation of Bi-annual Annual Board Notes on material outsourcing.Present key risk themes, issues and remediation status to governance forums.Risk Analytics & Thematic ReviewsConduct thematic reviews across outsourcing portfolios to identify systemic issues, control deficiencies and risk concentrations.Analyse outsourcing inventory, critical service dependencies and material service provider exposures.Transformation & Strategic InitiativesLead and support automation and risk transformation initiatives within the Third-Party Risk Management function.Enhance monitoring methodologies, reporting capabilities and governance workflows through technology-enabled solutions.Drive continuous improvement of risk assessment and oversight processes.Key Skills & Competencies:Risk Analytics and DashboardingRegulatory Compliance & RBI Governance FrameworksPolicy and Framework Development and Control DesignBoard, Committee & Senior Management ReportingStrategic Stakeholder Management & InfluencingExecutive Communication & Presentation SkillsAnalytical Thinking with Strong Attention to DetailPreferred Experience8-10 years' experience in Operational Risk, Third Party Risk, Outsourcing Risk, Internal Audit, Compliance or Enterprise Risk Management within Banking/Financial Services.Strong understanding of RBI Master Direction on Outsourcing of IT and Non-IT Services, Third Party Risk Management and Operational Risk Frameworks.Experience in conducting thematic reviews, regulatory gap assessments and preparation of Board and senior management reports.Proficiency in leveraging AI-enabled tools for productivity, analysis, reporting and process automation shall be preferredAdvanced knowledge of Excel, Power BI and data visualisation techniques would be an added advantage.