Risk Management Associate

Prudential HCL Health Insurance; Mumbai; On-site; INR 1,200,000 - 1,600,000; Full time

Job summary

Prudential HCL Health Insurance in Mumbai seeks a risk management professional to coordinate Risk & Control Self-Assessments across business and support functions, track remediation actions and maintain the ORM evidence repository.

You will monitor Key Risk Indicators, prepare management dashboards and reports, support business continuity and resilience activities, participate in third-party risk assessments, and oversee investment compliance monitoring against IRDAI regulations and internal

Responsibilities

• Coordinate periodic Risk and Control Self-Assessments across business and support functions.
• Track closure of control gaps and remediation actions.
• Maintain centralized ORM documentation and evidence repository.
• Support implementation and administration of operational incident reporting processes.
• Perform root cause analysis on operational risk events and near misses.
• Maintain operational loss databases and trend analysis.
• Collect, validate and analyze KRI data from various functions.
• Prepare risk dashboards and management reports.
• Escalate emerging risk trends and breaches against approved thresholds.
• Support Business Continuity Management (BCM) activities.
• Maintain BCM documentation, testing schedules and action trackers.
• Participate in risk assessments of critical outsourcing arrangements and service providers.
• Track risk mitigation actions arising from vendor assessments.
• Monitor compliance of investment activities against IRDAI Investment Regulations, Board-approved Investment Policy, internal investment limits.
• Track investment exposure limits and thresholds.
• Identify, investigate and escalate investment breaches or exceptions.
• Maintain investment compliance reporting and evidence.

Job description

Key Responsibilities

Risk & Control Self-Assessment (RCSA)

• Coordinate periodic Risk and Control Self-Assessments across business and support functions.
• Track closure of control gaps and remediation actions.
• Maintain centralized ORM documentation and evidence repository.

Operational Incident & Loss Management

• Support implementation and administration of operational incident reporting processes.
• Perform root cause analysis on operational risk events and near misses.
• Maintain operational loss databases and trend analysis.

Key Risk Indicator (KRI) Monitoring

• Collect, validate and analyze KRI data from various functions.
• Prepare risk dashboards and management reports.
• Escalate emerging risk trends and breaches against approved thresholds.

Business Continuity & Operational Resilience

• Support Business Continuity Management (BCM) activities.
• Maintain BCM documentation, testing schedules and action trackers.

Third Party Risk Management

• Participate in risk assessments of critical outsourcing arrangements and service providers.
• Track risk mitigation actions arising from vendor assessments.

Financial Risk Management & Investment Mid-Office

Investment Compliance Monitoring

• Monitor compliance of investment activities against:
• IRDAI Investment Regulations
• Board-approved Investment Policy
• Internal investment limits

Investment Limit Monitoring

• Track investment exposure limits and thresholds.
• Identify, investigate and escalation investment breaches or exceptions.
• Maintain investment compliance reporting and evidence.