Risk Manager

IDFC FIRST Bank; Mumbai; On-site; INR 1,000,000 - 1,500,000; Full time

Job summary

IDFC FIRST Bank is looking for a Policy/Risk Manager in Mumbai to enhance risk management strategies within the bank. This role is pivotal in assessing and reporting risks while aligning with the bank's objectives. The ideal candidate must have at least 4 years of experience in risk management within the BFSI sector, ensuring effective risk coverage while driving operational excellence.

The position requires a graduate degree and an MBA, with strong analytical and communication skills to navigate the complexities of regulatory compliance and stakeholder management.

Qualifications

• Minimum of 4 years of experience in a banking environment, specifically within risk management in BFSI industry.

Responsibilities

• Conduct regular asset quality reviews to identify risks and opportunities.
• Review and update program risk acceptance criteria.
• Build controls to mitigate risks across various domains.
• Monitor portfolio delinquencies at a granular level.
• Define product-level risk appetite in alignment with bank's framework.
• Implement technological interventions for process enhancement.
• Recommend improvements to processes and policies across Retail Banking.

Skills

Understanding of retail banking products and risk frameworks

Ability to define and implement risk appetite and policy structures

Analytical mindset with data interpretation skills

Managing regulatory compliance and internal controls

Effective communication and stakeholder management

Leading cross-functional initiatives

Education

Full time graduate in any discipline

MBA from a recognised institution

Job description

Job Requirements

About the Role

The Policy/Risk Manager plays a critical role within the Risk function, based in Mumbai. The role is responsible for assessing, managing, and reporting risks for assigned business units. It involves implementing strategies to ensure effective risk coverage and alignment of the asset portfolio with the bank’s desired risk levels. The role also includes preparing risk assurance reports and summaries for senior management to support strategic decision‑making aligned with the bank’s broader objectives.

Key Responsibilities

Primary Responsibilities

• Conduct regular asset quality reviews and provide analytical insights to identify risks and opportunities, recommending appropriate actions.
• Review and update program risk acceptance criteria in response to changes in legal and regulatory requirements, business strategies, market conditions, or portfolio performance.
• Build strong controls to mitigate risks across onboarding, credit, operations, fraud, and reputational domains.
• Monitor portfolio delinquencies at a granular level, identifying high‑risk segments, locations, and customer profiles.
• Define and shape product‑level risk appetite in alignment with the bank’s overall risk framework and growth objectives, including risk‑based pricing strategies.
• Facilitate the implementation of technological interventions such as scorecards, digital journeys, and process automation to enhance efficiency.
• Recommend improvements to processes and policies across Retail Banking to drive operational excellence and superior customer service.

Secondary Responsibilities

• Recommend improvements to risk‑related processes and policies to enhance operational efficiency and risk coverage.
• Collaborate with internal stakeholders to ensure cohesive execution of risk strategies.
• Contribute to the development of a risk‑aware culture across the organization.

What We Are Looking For

Education

• Graduation: Full time graduate in any discipline from a recognised institution.
• Post‑graduation: MBA from a recognised institution.

Experience

• Minimum of 4 years of experience in a banking environment, specifically within risk management within BFSI industry.

Skills and Attributes

• Strong understanding of retail banking products and risk frameworks.
• Proven ability to define and implement risk appetite and policy structures.
• Analytical mindset with the ability to interpret complex data and provide actionable insights.
• Experience in managing regulatory compliance and internal controls.
• Effective communication and stakeholder management skills.
• Ability to lead cross‑functional initiatives and drive technological enhancements.