Risk Manager – AI Risk

HDFC Bank; Mumbai; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

A leading banking institution in Navi Mumbai seeks a seasoned Risk Manager to oversee AI risk governance and ensure compliant use of AI technologies. You will develop frameworks, identify and mitigate risks, monitor regulatory developments, and collaborate across teams to implement AI risk controls. The ideal candidate has 10+ years of experience in risk management, preferably in banking with strong analytical and stakeholder management skills. Relevant certifications in AI governance or risk management are preferred.

Qualifications

• 10+ years of relevant experience in risk management, including 3-5 years in AI/technology risk.
• Exposure to BFSI sector and understanding of regulatory risk landscape in India.
• Certifications in Risk Management or Cybersecurity preferred.

Responsibilities

• Develop and implement AI-specific risk management frameworks.
• Establish governance protocols for AI/ML implementations.
• Lead risk assessments for AI/ML initiatives across business units.
• Ensure compliance with RBI guidelines and other regulations.
• Monitor regulatory developments related to AI and data usage.

Skills

Knowledge of AI/ML model lifecycle

Strong analytical skills

Stakeholder management

Communication skills

Education

Graduate/Postgraduate in Engineering (Computer Science / ELTC) or MCA

Tools

AI Governance certifications (e.g., IRM, CRISC)

Job description

Risk Manager – AI Risk Governance

Role Overview: We are seeking a seasoned Risk Manager to lead and oversee the identification, assessment, mitigation, and monitoring of risks arising from the adoption and use of Artificial Intelligence (AI) across the bank’s Technology and its operations. This role is critical in ensuring the responsible, secure, and compliant use of AI technologies in alignment with regulatory expectations, ethical principles, and the bank’s internal risk appetite.

Key Responsibilities

• Develop and implement AI-specific risk management frameworks and policies in collaboration with stakeholders.
• Establish governance protocols for AI/ML implementations, explainability, and bias mitigation.
• Identify operational, ethical, regulatory, and reputational risks associated with AI systems and use cases.
• Lead risk assessments (RCSA) for AI/ML initiatives across business units including credit scoring, fraud detection, chatbots, etc.
• Ensure compliance with RBI guidelines, DPDP Act, SEBI/IRDA norms (if applicable), and global best practices on AI governance.
• Monitor regulatory developments related to AI and data usage; act as a liaison with compliance/legal teams.
• Assess AI risks associated with third‑party vendors and data partnerships, including cloud‑based AI solutions.
• Ensure adherence to cloud, API, data privacy, cybersecurity, and model governance norms.
• Work with technology, analytics, legal, audit, and business teams to embed AI risk controls within the development lifecycle and production systems.
• Support internal audit reviews and present AI risk posture to senior management and committees.
• Coordinate with the Model Risk Management (MRM) team to validate AI/ML models.
• Drive initiatives around explainability (XAI), fairness, and performance monitoring of AI tools.

Desired Candidate Profile

• Education: Graduate/Postgraduate in Engineering (Computer Science / ELTC) or MCA.
• Certifications in AI Governance, Risk Management, or Cybersecurity (e.g., IRM, CRISC, CDPSE, FRM) are preferred.
• Experience: About 10+ years of relevant experience in risk management, with 3‑5 years in AI/technology risk, model governance, or digital risk.
• Exposure to the BFSI sector (preferably banking) with a strong understanding of the regulatory risk landscape in India.
• Skills: Knowledge of AI/ML model lifecycle, associated risks, and mitigation techniques.
• Understanding of regulatory frameworks related to data privacy, ethics in AI, and digital transformation.
• Strong analytical, communication, and stakeholder management skills.
• Familiarity with AI use cases in banking and associated controls.

Seniority level

Associate

Employment type

Full-time

Job function

Information Technology

Industry

Banking

Location

Navi Mumbai, Maharashtra, India