Third Party Risk Management(RBI outsourcing norms, DPDP Act compliance

Covansis IT Services Llp; Mumbai; Sur place; INR 2 500 000 - 4 000 000; Plein temps

Résumé du poste

Covansis IT Services Llp in Mumbai seeks a Third Party Risk Management specialist to drive the framework across the First Line of Defense, conducting risk identification, assessment, and mitigation in line with RBI outsourcing norms and DPDP Act.

You will manage vendor risk assessments, KRIs, SLAs, and audit readiness, collaborate with Procurement, Legal, Compliance and InfoSec, and support onboarding/offboarding, dashboards, and regulatory submissions.

Qualifications

• Education: CA or Bachelor’s degree in Finance, Risk Management, Information Security, or related discipline; professional certifications preferred.
• Experience: 5-12 years in vendor risk management, operational risk, compliance, or audit within BFSI.
• Technical Expertise: Knowledge of TPRM frameworks, RBI outsourcing norms, DPDP Act compliance, and global standards (ISO 27001, NIST, SOC 2).
• Familiarity with GRC platforms and vendor risk tools.

Responsabilités

• Execute end-to-end vendor risk assessments, including inherent and residual risk scoring, due diligence, and control validation.
• Ensure compliance with outsourcing guidelines, internal governance frameworks, and DPDP Act obligations (data protection, breach notification, consent management).
• Monitor KRIs, SLAs, and contractual obligations to identify deviations and emerging risks.
• Maintain risk registers, vendor inventory, and governance repositories in alignment with TPRM standards and audit requirements.
• Collaborate with cross-functional stakeholders (Procurement, Legal, Compliance, Information Security) to remediate control gaps and enforce contractual risk clauses.
• Support vendor onboarding/offboarding lifecycle, including risk signoffs and exit strategy compliance.
• Prepare risk dashboards, MIS reports, and regulatory submissions for senior management and audit committees.
• Assist in internal/external audits, regulatory inspections, and ensure timely closure of observations.
• Develop and prepare training materials to disseminate TPRM policies, procedures, and compliance requirements to internal stakeholders.
• Drive continuous improvement initiatives, including automation of risk workflows and integration of advanced monitoring tools.
• Stay abreast of emerging regulatory trends, cyber risk developments, and privacy frameworks impacting third-party ecosystems.

Connaissances

Vendor risk assessments

Regulatory compliance

Data privacy

Stakeholder engagement

Risk analytics

MS Office

Formation

CA

Bachelor's in Finance / Risk / Information Security

CRISC

CISA

CISSP

CTPRP

Outils

GRC platforms

Vendor risk tools

Description du poste

Role Details

Third Party Risk Management

• Employment Type: Full-Time with a leading multinational banking and financial services institution.
• Location: Mumbai
• Experience: 5-12yrs

Job description (JD)

Section 1: Purpose of the position

The person will be responsible for implementing the banks Third-Party Risk Management framework within the First Line of Dfense. This role ensures robust governance and oversight of vendor relationships by performing risk identification, assessment, and mitigation in compliance with regulatory mandates (RBI outsourcing norms), internal risk policies, and data privacy regulations (DPDP Act).

Section 2: Job Responsibilities

• Execute end-to-end vendor risk assessments, including inherent and residual risk scoring, due diligence, and control validation.
• Ensure compliance with outsourcing guidelines, internal governance frameworks, and DPDP Act obligations (data protection, breach notification, consent management).
• Monitor Key Risk Indicators (KRIs), Service Level Agreements (SLAs), and contractual obligations to identify deviations and emerging risks.
• Maintain risk registers, vendor inventory, and governance repositories in alignment with TPRM standards and audit requirements.
• Collaborate with cross-functional stakeholders (Procurement, Legal, Compliance, Information Security) to remediate control gaps and enforce contractual risk clauses.
• Support vendor onboarding/offboarding lifecycle, including risk signoffs and exit strategy compliance.
• Prepare risk dashboards, MIS reports, and regulatory submissions for senior management and audit committees.
• Assist in internal/external audits, regulatory inspections, and ensure timely closure of observations.
• Develop and prepare training materials to disseminate TPRM policies, procedures, and compliance requirements to internal stakeholders.
• Drive continuous improvement initiatives, including automation of risk workflows and integration of advanced monitoring tools.
• Stay abreast of emerging regulatory trends, cyber risk developments, and privacy frameworks impacting third-party ecosystems.

Section 3 : (a) Knowledge (b) Skills (c) Experience (d) Qualifications

• Education: CA, Bachelors degree in Finance, Risk Management, Information Security, or related discipline; professional certifications (CRISC, CISA, CTPRP, CISSP) preferred.
• Experience: 25 years in vendor risk management, operational risk, compliance, or audit within BFSI.
• Technical Expertise:
• Knowledge of TPRM frameworks, RBI outsourcing norms, DPDP Act compliance, and global standards (ISO 27001, NIST, SOC 2).
• Familiarity with GRC platforms and vendor risk tools.
• Core Skills:
• Strong risk analytics and control assessment capabilities.
• Excellent communication and stakeholder engagement skills for cross-functional collaboration.
• Ability to work under pressure, prioritize competing deliverables, and maintain accuracy.
• Proficiency in MS Office Suite and data visualization for reporting