Job Description

Position Purpose

Provide a brief description of the overall purpose of the position, why this position exists and how it will contribute in achieving the team\'s goal.

Located within the RISK Function of company. To ensure that the components of the operational risk management framework are implemented and operating effectively in Chennai. To achieve this objective, the 2nd line of defense role works closely with companies RISK ORM central teams with regional RISK ORM managers, and with company Chennai managers.

Responsibilities

Direct Responsibilities

The RISK ORM GSO mandate is to independently challenge and supervise the operational risk management framework of company\'s activities as described in the level 2 procedure \xe2\x80\x93 Organizational Framework and Governance for Operational Risk Management and Permanent Control Framework.

Contributing Responsibilities

As the 2nd line of defense, Asst.Manager, RISK ORM company\'s Chennai, has the following general responsibilities for the operational risk processes and themes within the scope of RISK ORM including fraud, third-party, and Information and Communication Technology (ICT) risk management.

• Define and consistently apply the RISK ORM methodologies and procedures (normative framework), and adapt locally as required
• Independently challenge the identification and assessment of the operational risk profile (actual, potential and emerging) and the risk mitigation framework implemented in the operating entities, through opinions, and sign offs where required
• Ensuring effective implementation of the risk mitigation strategies, framework and actions with the 1st line of defense, through follow up of action plans and independent challenge of controls, either through execution of 2nd level controls, or where applicable, through other kinds of controls
• Independently assess and potentially alert key stakeholders on the level of risk and on the risk mitigation framework status
• Contribute to operational risk awareness and training on the risk mitigation framework

• Ensure risk assessments are consistent with the risk appetite, and independently challenge and sign-off on the RCSA produced by local entities or by exception, independent assessment.
• Liaise with regional and Central Risk team to understand priorities and deliverables and ensure the ITP is updated on real time basis.

• Challenge 1st line of defense mainly by the execution of level 2 controls and independently challenge and provide an opinion on the effectiveness of the control framework
• Perform Quality review; independently challenge significant incidents in FORECAST and related remediation plan.
• Conduct thematic reviews promptly with recommendations.

• Ensure the correct implementation and application of Group and company governance (e.g. in terms of Internal Control Committee (ICC) and operational risk management related committees, etc.\xe2\x80\xa6)

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