Operational Risk Manager

DEPARTMENT: Risk

LOCATION: Kurla, Mumbai

JOB OVERVIEW:

The Operational Risk Manager will play a key role in strengthening the organizations risk and control framework by identifying, assessing, monitoring, and mitigating operational risks across businesses and support functions. The role requires strong analytical and governance capabilities, coupled with sound understanding of RBI guidelines on Operational Risk, Outsourcing, and Business Continuity Management applicable to NBFCs.

QUALIFICATION: Chartered Accountant (preferred)/MBA Finance

ESSENTIAL SKILLS AND EXPERIENCE:

• 2 to 5 years of relevant experience in Operational Risk / Enterprise Risk / Internal Control within NBFCs and Banks.
• Strong analytical, documentation, and presentation skills.
• Good understanding of process risks, control frameworks, and audit findings.
• Proficiency in Excel, PowerPoint, and MIS/dashboard preparation.
• Ability to collaborate with cross-functional teams and drive process improvements.
• Attention to detail, risk awareness, and problem-solving mindset.

KEY RESPONSIBILITIES:

1. Risk Identification & Assessment

• Conduct Risk & Control Self-Assessments (RCSA) in coordination with business and functional units.
• Identify key operational risks across processes, systems, and third-party engagements.
• Maintain and periodically review the Operational Risk Register, ensuring alignment with evolving business models and regulatory expectations.

2. Risk Monitoring & Incident Management

• Manage the Operational Risk Incident process recording, investigating, and analysing incidents including root cause analysis and corrective/preventive action tracking.
• Prepare periodic presentations/MIS and dashboards for management committees (ORMC/RMC/Board.
• Track and develop Key Risk Indicators (KRIs) and emerging risk trends for early warning signals.

3. Control Testing & Assurance

• Coordinate and participate in annual Internal Financial Control (IFC) testing project conducted by external firm in collaboration with business and support functions.
• Coordinate with internal/external auditors for operational risk reviews.
• Assess the design and operating effectiveness of risk controls across business functions.

4. Outsourcing & Vendor Risk Management

• Coordinate and participate in conducting various assessments such as due diligence, materiality classification, and periodic review of outsourced vendors as per RBI guidelines.
• Maintain central vendor register and ensure timely completion of vendor risk assessments.
• Prepare periodic presentations/MIS and dashboards for management committees (Centralised outsourcing committee /RMC/Board).

5. Operational Resilience and Change Management

• Support the implementation of the Operational Resilience Framework in line with regulatory expectations.
• Conduct Business Impact Analysis (BIA) to identify critical business operations, dependencies, and potential vulnerabilities.
• Map critical processes, interdependencies, and recovery time objectives (RTOs) to ensure continuity under disruption.
• Contribute to the design and governance of Business Continuity Plans (BCP) for critical operations.
• Ensure governance over change management activitiesreviewing process, system, or organizational changes from a risk perspective before implementation.
• Track and report resilience testing results and improvement actions to management and committees.

6. Governance & Reporting

• Support preparation of operational risk reports, dashboards, and presentations for management and regulators.
• Liaise with Compliance, Internal Audit, and Information Security for integrated risk governance.

Piramal is an equal opportunity employer. Qualified applicants will be considered without regard to age, gender, marital status, sexual orientation, gender identity or expression, disability, or religion.