Outsourcing & TPRM Manager

Kotak Life Insurance PVT Ltd; Mumbai; On-site; INR 2,500,000 - 4,200,000; Full time

Job summary

Kotak Life Insurance PVT Ltd is seeking an AVP/ DVP to oversee and strengthen the Outsourcing and Third Party Risk Management (TPRM) framework. The role collaborates with Business Functions, Procurement, Compliance, Legal, Information Security, and Internal Audit to ensure governance and regulatory adherence.

Ideal candidates will have 10+ years in risk management within life insurance, with strong experience in vendor due diligence, RCSA, and regulatory expectations, and will operate from

Qualifications

• Strong experience in managing Outsourcing and Third Party Risk Management (TPRM) frameworks.
• Sound understanding of IRDAI Outsourcing Guidelines and regulatory expectations.
• Experience in vendor due diligence, risk assessments, and ongoing monitoring.
• Experience in driving and managing the RCSA framework.

Responsibilities

• Manage and enhance the Outsourcing and Third Party Risk Management (TPRM) framework.
• Drive end-to-end governance of outsourced arrangements and third-party service providers.
• Conduct materiality assessments, risk evaluations, due diligence reviews, and ongoing monitoring of vendors.
• Review and assess outsourcing proposals from a risk perspective and recommend appropriate risk mitigation measures.
• Ensure periodic vendor risk assessments and monitoring of critical/high-risk third parties.
• Conduct outsourcing committee meetings and prepare governance reports for senior management and Board committees.
• Maintain and periodically update Outsourcing Policy, TPRM Framework, procedures, standards, and related governance documents.
• Support implementation and enhancement of the Risk & Control Self-Assessment (RCSA) framework across business functions.
• Facilitate risk identification, assessment, control evaluation, and action planning with business stakeholders.
• Assist in operational risk management activities, risk reviews, and governance reporting.
• Engage with business functions to build risk awareness and strengthen risk culture.

Skills

Outsourcing & TPRM

IRDAI guidelines

Vendor due diligence

RCSA framework

Education

Post Graduate

Job description

Role: Outsourcing & Third Party Risk Management Manager

Job Title: AVP / DVP

Education: Post Graduate

Role Purpose

To oversee and strengthen the Company's Outsourcing and Third Party Risk Management (TPRM) framework by ensuring effective governance, risk assessment, due diligence, Regulatory compliance and reporting in line with IRDAI requirements and internal risk management standards.

The role will also support Risk Management initiatives including RCSA and operational risk governance.

The position requires close collaboration with Business Functions, Procurement, Compliance, Legal, Information Security, and Internal Audit teams.

Key Responsibilities

Outsourcing & TPRM Governance

• Manage and enhance the Outsourcing and Third Party Risk Management (TPRM) framework.
• Drive end-to-end governance of outsourced arrangements and third-party service providers.
• Conduct materiality assessments, risk evaluations, due diligence reviews, and ongoing monitoring of vendors.
• Review and assess outsourcing proposals from a risk perspective and recommend appropriate risk mitigation measures.
• Ensure periodic vendor risk assessments and monitoring of critical/high-risk third parties.
• Conduct outsourcing committee meetings and prepare governance reports for senior management and Board committees.
• Maintain and periodically update Outsourcing Policy, TPRM Framework, procedures, standards, and related governance documents.
• Support implementation and enhancement of the Risk & Control Self-Assessment (RCSA) framework across business functions.
• Facilitate risk identification, assessment, control evaluation, and action planning with business stakeholders.
• Assist in operational risk management activities, risk reviews, and governance reporting.
• Engage with business functions to build risk awareness and strengthen risk culture.

Desired Candidate Profile

Experience

• 10 years + post-qualification experience.
• Experience in the Risk Management function of a Life Insurance Company is highly preferred.

Knowledge & Skills

• Strong experience in managing Outsourcing and Third Party Risk Management (TPRM) frameworks.
• Sound understanding of IRDAI Outsourcing Guidelines and regulatory expectations.
• Experience in vendor due diligence, risk assessments, and ongoing monitoring.
• Experience in driving and managing the RCSA framework.