Lead- ORM and ERM

Job Purpose

The role is responsible for developing defining, implementing and monitoring Enetrprise Risk management & Operations Risk management policy & process framework to ensure that the organisational objectives are achieved within the given risk appetite defined by the sh

Job Context & Major Challenges

• The external environment is changing at a fast pace impacting the risk framework for BSLI which is making the risk frame work more fluid and making it difficult to keep a pace with the same.
• Implement Risk Management initiatives across BSLI in an ever expanding and dynamic environment.
• The business environment is changing at fast pace. To keep pace with this change internal operations needs to be aligned. The repeated changes make it difficult to carry out relevant risk evaluation.
• The external environment & business compulsion makes it difficult to mitigate or mange all operational risk.
• Data collection for proactively identifying & monitoring operations risk is a challenge.
• Data collection for building risk models is a core activity for which the function has to depend on the other function of the organisation. Getting correct and timely data is a challenge.
• Ensuring uniform and complete organization wide awareness on risk Management in times of Rapid expansion of business and new products and services being launched
• Given the geographical span covering various branches and Zonal Offices, with some very high risk branches, making people aware of their roles & responsibilities with respect to Information security
  
  

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)Supporting Actions (Max 1325 Characters)

KRA1 Design and ensure implementation of a comprehensive Operational Risk Management framework 1.Analyse Operational Loss data and basis findings create and release Operational Loss report

• Drive analysis, creation and release of Key Risk Indicators reports
• Drive analysis, creation and release of Process risk assessment report
• Drive closure of ORM actionable within TAT
• Drive the collation & validation of Risk & Control Self
  
  

Assessment testing results of all functions to ensure completeness and quality

• Drive ORM trainings across functions
  
  

KRA2 Design and ensure implementation of a comprehensive Enterprise Risk Management framework 1.Drive and ensure implementation of the ERM framework.

• Assist business functions in the risk identification process.
• Drive quarterly review/updates of action plans for Key Risks.
• Review heat maps for Risk Assessment
• Carry the risk reporting element through Risk Scorecard
  
  

KRA3 Formulate pertinent Risk Management policies, guidelines and best practices with monitoring and reporting mechanisms. 1.Roll out required risk management policies, collaboratively with applicable and pertinent functional heads.

• Carry policy certification on a quarterly basis
• Provide input to the annual risk management testing plan (RMT) and conduct testing of compliance to Risk Management Policies
• Design and implement best practice projects such as Information Classification policy and record retention policy to ensure that business practices are carried on with the objective of achieving process excellence within the overall guidance of risk management policies and guidelines
  
  

KRA4 Initiate New Risk Management Projects To Oversee Risk Assessment Process In Key Business Initiatives In Lines With The Risk Maturity Model 1.Carry On Risk Management Initiatives Such As

• Product Risk Assessment
• Process Risk Assessment
• System Risk Assessment
• Outsourcing Risk Assessment
• New business initiative risk Assessment
• Make decisions on risk management issues that impact strategic direction of BSLI
• Providing independent view regarding proposed business plans and transactions
• Work with business units to establish, maintain and continuously improve risk management capabilities
• With an objective that risk management is inculcated as a part of the business practices rather than a standalone activity and that business practices are carried on with a consideration of formal risk assessment.
  
  

KRA5 Develop framework for outsourcing 1.Develop framework for outsourcing of activities for BSLI

• Evaluate the outsourcing arrangements from risk perspective
• Get board approval for such arrangements
• Monitor the performance of the vendor & report to the board committee
  
  

KRA6 Update The Board Level And Internal Risk Review Committee On Key Business Risks Of BSLI Through Committee Meetings And Risk Reporting 1.Keep The Risk Review Committee Informed To Present a Cohesive View Rather Than Segmented View On Risk Management Of

• Current Business risks;
• Risk management strategies to mitigate those risks;
• An integrated response on potential risk issues and
• New Risk Management initiatives
• Implement appropriate risk reporting to the CEO, Risk Review Committee and Board
• Performance metric design and implementation in order to ensure that Risk review committee is updated on overall business risks being managed within acceptable limit
  
  

KRA7 Drive awareness and culture creation 1.To develop a risk culture through a risk awareness model through the following means to ensure that benefits of risk management are clearly recognised by the workforce and risk management practices are accepted as a business practice by intent

• Web based training
• Personalised training
• Train the Trainer
• Content reinforcement
• Highlight security breaches and incidents to Function Heads and develop strong punitive action for the same.
• Monitor results of Sweeps conducted and ensure that management is cognizant of its consequences
  
  

KRA8 Team Management 1.Motivate the team, developing their technical risk skills as well as soft skill competencies to improve effectiveness and productivity year-over-year.

• Build transparent and robust career progression plans for team members to ensure that the team is geared up to deliver on a consistent basis