Chief Risk Officer

The Chief Risk Officer (CRO) shall be responsible for ensuring the overall quality of the lending portfolio by planning and directing all aspects of credit risk. This position will ensure an effective Enterprise risk management, Credit risk management, Audit & Fraud control unit is in place within the company, by establishing the framework for risk management activities and driving consistent standards across the organization. This position will identify credit risk; assess enterprise effectiveness in managing these risks through appropriate internal controls; and build awareness of the business implications of credit risk, and how to manage credit risk, as part of the leadership culture. In addition, this role will ensure effective credit risk management and corporate governance practices are established and maintained.

Role & responsibilities

Risk Management Strategy:

A. Develop, implement, and continuously improve the Enterprise risk management framework, policies, and procedures to mitigate and manage financial, operational, and strategic risks.

B. Oversee the enterprise risk management (ERM) strategy, ensuring alignment with the company's overall business objectives and risk appetite.

C. Evaluate the effectiveness of the risk management framework and recommend necessary improvements. Risk Identification & Assessment:

D. Lead risk identification, assessment, and measurement processes across all business units, ensuring the accurate identification of potential risks.

E. Conduct risk assessments of new business initiatives, products, services, and markets, and provide risk insights to senior management and the board

Risk Mitigation & Control:

A . Develop and implement strategies to mitigate identified risks, working with business leaders to ensure proper controls are in place.

B. Ensure a proactive approach to operational, credit, market, liquidity, compliance, and reputational risks.

C. Collaborate with various departments to embed risk controls and mitigation strategies into business processes.

Regulatory & Compliance Oversight:

A. Ensure compliance with local and international regulations, including RBI (Reserve Bank of India) guidelines, SEBI, and other relevant statutory bodies.

B. Liaise with regulatory authorities and auditors to stay ahead of regulatory changes and ensure adherence to all applicable laws and regulations.

C. Manage risk reporting to the board of directors and regulatory bodies

Reporting & Communication

A. Provide clear, accurate, and timely risk reports to senior management and the board, highlighting key risks, their potential impact, and mitigation actions.

B. Foster transparency in risk communication within the organization, ensuring all stakeholders are aligned on risk policies and practices

Crisis Management & Business Continuity:

A. Lead the development and maintenance of a comprehensive business continuity and crisis management plan.

B. Respond effectively to crisis situations, ensuring rapid identification, assessment, and management of emerging risks

Team Leadership & Development:

A. Build, lead, and mentor a high-performing risk management team, ensuring continuous development and effective collaboration.

B. Foster a culture of risk awareness and accountability throughout the organization, providing training and guidance on risk-related matters

Technology & Innovation:

A. Leverage technology and data analytics to enhance risk assessment and mitigation efforts, adopting modern tools for risk identification and monitoring.

Preferred candidate profile

1. 18+ years of experience of which at least 10 years should be in handling various facets in Risk Management functions of BFSI/NBFC

2. Prior experience of reporting to the Board and its Committees

3. At least 5 years of experience in CRO role

4. Strong strategic planning and problem-solving skills

5. Excellent communication and interpersonal abilities