Outsourcing Manager

Location:

Function:

Reports to:

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Key Responsibilities

1.

• Maintain and periodically update the Board-approved Outsourcing Policy and SOPs; embed materiality criteria, risk taxonomy, and approvals matrix.
  
• Support in executing the Outsourcing Committee cadence (agenda, packs, minutes, actions) and ensure annual policy review and Board presentation.
  

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• Coordinate TPRM assessments with InfoSec/ IT Risk (VAPT/ ISMS controls), BCP/DR testing, cyber incident handling, and data-transfer controls (incl. cross-border).
  
• Ensuring the TPRM Risk automation covers the through due diligence, adherence and governance
  

7.

• Prepare returns/annexures (e.g., annual outsourcing return with top vendors & payouts) and maintain records for the prescribed retention period.
  
• Keep an Outsourcing Register (inventory of all arrangements, classifications, contract dates, locations, data flows, sub-processors).
  

8.

• Govern scope changes, new technologies (AI/automation), and sub-contracting; re-perform risk assessments on significant changes and ensuring transitions/exit management to avoid service disruption.
  
• Train 1st-line owners (business/ operations/ CRESA) on what can/cannot be outsourced, materiality triggers, and when to involve Compliance/ Risk/ Legal/ InfoSec.
  

Requirements

Candidate Profile

Education:

Experience:

Skills:

Benefits

1. Regulations require insurers to maintain documented governance, monitoring, audit rights, and risk controls over outsourced activities.
2. Outsourcing is a highly critical area during the regulatory inspections and IRDAI have taken many actions in this context of insurers due to lapses observed.3. Complexity & Volume of vendors, we have multiple third parties across IT, claims processing, data services, BPM, field operations, and more.4. Monitoring SLAs, audits, incident management, sub-contracting, and transitions is complex for a decentralized approach.5. Risk Mitigation & Loss Prevention Gaps in vendor oversight expose us to operational, reputational, and cyber risk.6. Governance & Audit Readiness External auditors and the internal audit team often flag outsourcing as a control risk.