Job Description

• Implementing and embedding the Operational risk framework to identify, assess, monitor Vendor risk (Outsourcing & Non-Outsourcing Services)

• Ensuring Gatekeeping of all new vendors to ensure onboarding requirements are completed prior to vendor services being consumed.
• Co-ordination with Payments Teams to ensure ORM approval is validated before vendor creation and processing payments. Regular recon with the Payment systems to validate vendor codes.
• Monitoring of activities outsourced to vendor and their performance through half yearly review of outsourcing activities and annual review. BoD note preparation for Material outsourcing
• Above monitoring includes review of various aspects such as scorecard prepared by Business, appropriateness of agreement terms and agreement validity, availability of insurance as applicable, financial condition, subcontracting, events reported internally or externally, outcome of audit or CISO team reviews, concentration risks, negative media reports, BCP and contingency plans etc.

• Identify and analyses high risk activities and attributes and implement requisite controls to manage risks

• Manage activation and deactivation of vendors basis availability of required documents.

• Implementing processes and control framework for off boarding vendors
• Reviewing the Framework on Non-Outsourcing vendors holding Sensitive Data, Outsourcing Framework and Policy at re-defined/ regular intervals or basis need and suggest changes required for superior workflow and better controls
• Handling RBI and other regulatory requirements. Ensure the Outsourcing Policy and Framework and Framework on Non-Outsourcing vendors holding Sensitive Data meet the regulatory requirements on Risk Management of vendors, especially holding sensitive data.
• Lead Projects undertaken wrt automation of workflows for improved TATs and service delivery.