Job Description

Key Responsibilities: Operational Risk Management Framework: Develop, implement, and maintain a comprehensive operational risk management framework ensuring it aligns with industry standards and regulatory requirements. Ensure integration of operational risk management practices into all business operations, policies, and procedures. Identify key operational risks across various functions including lending, collections, payments, compliance, and customer service. Risk Identification & Assessment: Identify and assess emerging operational risks (e.g., fraud, regulatory compliance, system failures, process inefficiencies) that may impact business functions. Conduct periodic risk assessments, vulnerability assessments, and stress testing to evaluate operational risks across all business units. Collaborate with business units to identify potential risks in new products, services, or systems. Risk Monitoring & Reporting: Continuously monitor the organizations operational risk environment to identify potential vulnerabilities and threats. Implement and maintain a risk monitoring system to track key risk indicators (KRIs) and provide real-time data on operational risk exposure. Prepare and present regular risk monitoring reports to senior management, highlighting trends, areas of concern, and potential risk mitigations. Ensure that operational risks are regularly reviewed and reported in line with regulatory requirements. Control Environment & Mitigation: Work with business units to design and implement controls that mitigate operational risks in line with the company’s risk appetite. Ensure that controls are regularly tested, reviewed, and optimized to mitigate risks effectively. Develop risk mitigation strategies for key risk areas, including but not limited to fraud, cyber threats, operational inefficiencies, and regulatory violations. Incident Management & Root Cause Analysis: Lead investigations of operational incidents (e.g., system failures, fraud, compliance breaches), and identify their root causes. Ensure effective corrective actions and process improvements are implemented based on the findings of incident investigations. Track and report the resolution of incidents, ensuring that lessons learned are incorporated into risk management practices. Regulatory Compliance: Ensure compliance with relevant regulatory frameworks and industry best practices regarding operational risk management. Stay updated on changes in regulatory requirements and ensure that the operational risk management framework is adjusted accordingly. Support the preparation of reports and documentation for regulatory audits, inspections, and examinations. Internal Audit & Risk Assessment: Collaborate with internal audit teams to perform operational risk reviews and audits, ensuring alignment with internal controls and risk management standards. Assist in developing action plans to address any findings from internal and external audits, ensuring timely resolution and follow-up. Monitor progress on risk remediation efforts and assess their effectiveness. Business Continuity Planning: Ensure that business continuity plans (BCP) and disaster recovery plans (DRP) are in place and regularly tested for operational risk scenarios. Support the business in developing contingency plans for critical operational processes and ensure readiness for risk events. Training & Risk Awareness: Conduct training sessions and workshops for employees to raise awareness of operational risks and ensure effective risk management practices are followed. Promote a risk-aware culture throughout the organization by advocating for operational risk management principles and best practices. Technology & Automation in Risk Monitoring: Leverage technology solutions and automation to enhance operational risk monitoring, tracking, and reporting. Assess and recommend technological tools to improve risk detection, reporting, and management processes. Experience: Minimum of 5 years of experience in operational risk management, with a proven track record in financial services, preferably within an NBFC environment. Experience in monitoring and assessing operational risks across various business functions, including lending, collections, and compliance. Strong understanding of risk management frameworks, control design, and regulatory requirements for NBFCs. Skills & Competencies: Strong analytical skills with the ability to assess complex risk scenarios and provide actionable solutions. In-depth understanding of operational risk management tools, risk assessment techniques, and monitoring systems. Familiarity with regulatory guidelines and frameworks governing NBFC operations (e.g., RBI, SEBI, PMLA). Ability to work collaboratively with cross-functional teams and communicate complex risk information to senior leadership. Proficiency in risk management software and tools (e.g., risk dashboards, risk registers, incident tracking systems). Strong attention to detail and a proactive approach to identifying potential risks. Personal Attributes: Proactive, with a problem-solving mindset and the ability to anticipate and address risks before they materialize. Ability to manage multiple tasks and prioritize risk-related activities effectively. Strong communication and interpersonal skills, with the ability to build relationships with senior management, business units, and stakeholders. A collaborative team player who fosters a culture of risk awareness across the organization.