PHI - Manager- Risk

prudential; Mumbai; On-site; INR 2,500,000 - 3,800,000; Full time

Job summary

Prudential Health India seeks a dynamic Risk Manager to oversee the Risk Department, ensure regulatory compliance with IRDAI, and mitigate risks across the organization. Reporting to the Head of Risk/Chief Risk Officer, this role anchors risk assessments and policy implementation in a growing health insurance venture.

The ideal candidate brings a master's in a related field, 10+ years in insurance, and strong leadership with excellent communication skills to drive risk-aware decision making.

Qualifications

• Master's degree in finance, Law, Economics, or related field.
• Minimum 10 years of experience in insurance domain.
• In depth knowledge of insurance sector.
• Strong leadership and organization skills.
• Excellent communication and interpersonal abilities.

Responsibilities

• Identify potential risks that could impact the organization's operations and financial performance.
• Conduct comprehensive risk assessments to evaluate the likelihood and impact of identified risks.
• Develop risk profiles and maintain a risk register.
• Develop and implement risk management policies and procedures.
• Monitor the effectiveness of risk mitigation measures and adjust as necessary.
• Collaborate with various departments to ensure risk management practices are integrated into daily practices.
• Maintain records of risk assessments, mitigation plans, and compliance activities.
• Develop and implement standard operating procedures for Risk Management, including its regular review and updating as per current regulations and best practices.
• Support Chief Risk Officer in strategic risk management matters.

Skills

Analytical skills

Problem solving skills

Data handling expertise

Familiarity with risk assessment tools

IRDAI Regulatory Knowledge

Education

Master's degree in finance, Law, Economics, or related field

CFA, CAMS or similar certifications

Job description

Prudential's purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people's career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

PHI -Manager - Risk

Prudential (UK) in partnership with the HCL group plans to set-up a standalone Indian health insurance company to address the growing healthcare needs of the Indian consumer.

This joint venture will combine Prudential's global expertise in insurance and financial services with HCL Group's experience in technology and healthcare solutions.

Prudential, with its longstanding presence in India, already operates two leading businesses in life insurance and asset management with the ICICI Group. Prudential was also the proud sponsor of the 1983 Cricket World Cup, India's first World Cup Victory!

Prudential Health India is a Zero to One team undertaking a no-legacy, greenfield health insurance deployment in India, building journeys that truly empathize with the customer and offer a differentiated experience.

To partner with us in this mission, we are looking for a dynamic and Risk Manager to ensure the efficient and seamless operation of the Risk Department and plays a crucial role in identifying, assessing and mitigating risks in the organization.

Reporting to Head of Risk/Chief Risk Officer

Location: Mumbai

The Manager of Risk and Investment Compliance is responsible for ensuring that the organization adheres to all regulatory requirements and internal policies related to risk and compliance, with a specific focus on compliance with IRDAI regulations. This role requires a deep understanding of financial markets particularly Insurance, Cyber Security, and also involves monitoring compliance, and conducting audits.

Key Responsibilities

• Identify potential risks that could impact the organization's operations and financial performance.
• Conduct comprehensive risk assessments to evaluate the likelihood and impact of identified risks.
• Develop risk profiles and maintain a risk register.
• Develop and implement risk management policies and procedures.
• Monitor the effectiveness of risk mitigation measures and adjust as necessary.
• Collaborate with various departments to ensure risk management practices are integrated into daily practices.
• Maintain records of risk assessments, mitigation plans, and compliance activities.
• Develop and implement standard operating procedures for Risk Management, including its regular review and updating as per current regulations and best practices.
• Support Chief Risk Officer in strategic risk management matters.

Qualification & Experience

• Master's degree in finance, Law, Economics, or a related field; advanced degree preferred. Relevant certifications such as CFA, CAMS, or similar are a plus
• Minimum 10 years of experience in insurance domain
• In depth knowledge of insurance sector
• Strong leadership and organization skills
• Excellent communication and interpersonal abilities

Skills

• Analytical skills
• Problem solving skills
• Data handling expertise
• Familiarity with risk assessment tools
• IRDAI Regulatory Knowledge

What we offer

• Competitive salary
• Career development opportunities for professional growth and development including training and mentorship programs
• Recognition as a key member of our leadership team

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.