Functional Consultant OFSAA ERM Suite

Job Posting: IC3 Functional Consultant OFSAA ERM Suite

• Company Name: Clover Infotech
• Locations: Mumbai / Bangalore
• Employment Type: Full-Time
• Experience Level: 3 6 Years
• Availability: Immediate Joiners Preferred

About Clover Infotech

Clover Infotech is a leading, global IT services and consulting company with over 30 years of excellence in delivering technology modernization, cloud enablement, database management, and enterprise application solutions. As an award-winning partner with deep domain expertise in enterprise platforms, we co-author transformational success for leading global corporations, banks, and financial institutions. We are currently expanding our risk and finance consulting practice and looking for dynamic professionals to join our high-performing teams in Mumbai and Bangalore.

Role Overview

The IC3 Functional Consultant for the OFSAA Enterprise Risk Management (ERM) suite will support the implementation, configuration, testing, and validation of core OFSAA modules such as ALM, LRM, Basel, FTP, and PFT. This role requires a strong understanding of banking products, risk concepts, and OFSAA functional capabilities, with the ability to execute tasks independently under the guidance of senior consultants.

Key Responsibilities

• Requirement Understanding & Analysis:
  
• Collaborate with senior consultants and business stakeholders to gather and analyze functional requirements.
• Analyze regulatory and internal risk requirements in areas such as ALM/IRRBB, Liquidity (LCR/NSFR), Basel III/IV, FTP, and stress testing.
• Support the creation of functional requirement documents (FRDs), mapping sheets, and gap analyses.
• Functional Configuration of OFSAA ERM Modules:
  
• Perform hands-on configuration within OFSAA including product behaviors, bucketing rules, NMD assumptions, prepayment parameters, scenario setups, shock parameters, allocation rules, and calculation rules.
• Configure metadata, dimension hierarchies, member attributes, and rule dependencies.
• Scenario Execution & Result Validation:
  
• Run test scenarios for ALM, LRM, Basel, FTP, or other modules during SIT/UAT.
• Validate scenario outputs, cash flows, rates, balances, risk metrics, and KPI calculations, ensuring alignment with business expectations and source data.
• Data & Mapping Support:
  
• Work with technical teams to define and clarify functional data requirements for staging and foundation layers.
• Review mappings, data dictionaries, DIM/FCT attributes, and validate data loads from a functional standpoint.
• Testing & Documentation:
  
• Prepare test cases, expected results, and traceability matrices for SIT/UAT.
• Document configuration setups, rule logic, scenario assumptions, and track/resolve functional defects.
• Client Interaction & Collaboration:
  
• Participate in client workshops, walkthroughs, solution demos, and provide functional clarifications.
• Collaborate closely with technical consultants, data engineers, QA teams, and senior functional leads.

Required Skills & Experience

Functional Skills:

• Strong understanding of core banking products: loans, deposits, securities, derivatives, and cash management.
• Working knowledge of risk management areas: ALM/IRRBB, Liquidity (LCR/NSFR), Basel regulatory calculations, and FTP methodologies.
• Ability to translate complex business requirements into robust OFSAA configurations.

OFSAA Product Skills:

• Hands-on experience in at least one OFSAA ERM module (ALM, LRM, Basel, FTP, or PFT).
• Solid understanding of the OFSAA Rule Framework, Cash Flow Engine concepts, DIM/FCT structures, and execution lifecycles.

Preferred Qualifications:

• 3–6 years of experience in OFSAA or risk/finance functional consulting.
• Experience in at least one regulatory framework (RBI, EBA, Fed, PRA, MAS).
• Degree in Finance, Economics, Banking, Risk, or a related field.
• Relevant risk or technology certifications (FRM, CFA, OFSAA) are a plus.
• Immediate joiners or candidates with a very short notice period will be given preference.

How to Apply

If you are passionate about building a career with a leading digital transformation partner and fit the above criteria, share your updated resume with us at mayur.gaikwad@cloverinfotech