Risk Manager or Senior Manager Infrastructure (InvIT)

About the Role

We are looking for an experienced Risk Manager / Senior Manager with strong hands-on exposure to Infrastructure Investment Trusts (InvITs) and Roads & Highways infrastructure. The incumbent will be responsible for identifying, assessing, monitoring and mitigating financial, operational, commercial and regulatory risks across the InvIT portfolio and underlying project SPVs.

The role will work closely with Finance, Investment Management, Asset Management, Operations, Legal, lenders, rating agencies, the Trustee, NHAI and other external stakeholders to strengthen the overall risk management framework.

Key Responsibilities

1. Risk Identification & Assessment

• Identify and assess enterprise, project-level and asset-level risks across road and highway assets.
• Conduct risk assessments for new asset acquisitions, investments, refinancing and operational SPVs.
• Monitor key macro and sectoral risks including traffic, toll revenue, regulatory changes, EPC and O&M contracts.
• Develop risk mitigation plans and track their implementation and effectiveness.

2. InvIT & Regulatory Risk

• Monitor compliance with applicable SEBI InvIT Regulations, NHAI concession agreements, lender covenants and other regulatory requirements.
• Work closely with the Investment Manager, Trustee, Valuer and relevant stakeholders on InvIT risk reporting.
• Support risk and commercial due diligence for asset acquisitions, investments, refinancing and divestments.
• Monitor regulatory, contractual and concession-related developments that may impact the portfolio.

3. Financial & Commercial Risk

• Analyse traffic risk, toll revenue risk, revenue leakage, O&M cost overruns, interest-rate risk and refinancing risk.
• Perform cash-flow stress testing, scenario analysis and DSCR assessment for road/highway assets.
• Evaluate project and asset-level financial risks and recommend appropriate mitigation strategies.
• Review insurance coverage, claims, business continuity and contingency plans.
• Assess financial and commercial risks associated with BOT, HAM and Toll-based project structures.

4. Risk Governance & Reporting

• Develop, maintain and periodically review the Risk Management Framework, Risk Register and Key Risk Indicators (KRIs).
• Establish effective risk monitoring and escalation mechanisms across the InvIT portfolio.
• Prepare risk reports and presentations for the Board, Audit Committee, Investment Committee, lenders and senior management.
• Coordinate with internal audit, external auditors and other assurance functions on risk-related matters.
• Track risk observations, action plans and closure of identified gaps.

5. Stakeholder Management

• Liaise with NHAI, lenders, rating agencies, EPC contractors, O&M contractors, Investment Managers, Trustees and other stakeholders on risk-related matters.
• Partner closely with Finance, Legal, Operations, Asset Management and Investment teams.
• Provide risk inputs for strategic, investment and portfolio-management decisions.
• Present risk insights, stress-test outcomes and mitigation plans to senior management and relevant committees.

Must-Have Qualifications & Experience

• Education: CA / MBA Finance / M.Com or equivalent qualification.
• 510 years of relevant experience in Risk Management, Infrastructure, Project Finance, InvITs, Infrastructure Funds, PE Funds or large Road/Highway Developers.
• Mandatory hands-on experience with InvIT structures and Roads / Highways infrastructure assets.
• Strong understanding of project finance, financial risk assessment and infrastructure project structures.
• Relevant Risk Management certification is preferred.

Key Skills & Technical Competencies

• SEBI InvIT Regulations and regulatory compliance

• NHAI policies, concession agreements and highway operations

• BOT / HAM / Toll-based project structures

• Financial modelling and cash-flow risk analysis

• DSCR analysis, stress testing and scenario analysis

• Traffic and toll revenue risk assessment

• Project finance and lender covenant monitoring

• Risk Management Framework, Risk Register and KRI/KPI development

• Governance, Board / Audit Committee reporting and presentation

• Senior stakeholder management and cross-functional collaboration

Preferred Experience

• Prior experience with listed InvITs.
• Experience working with Investment Managers, Trustees, lenders and / or rating agencies.
• Exposure to asset acquisition / divestment due diligence.
• Experience in refinancing and financial restructuring of infrastructure assets.
• FRM / IRM or other relevant Risk Management certification will be an advantage.

Ideal Candidate Profile

The ideal candidate will be a finance / risk professional who combines strong risk management capability with practical understanding of infrastructure assets and InvIT structures. Candidates from InvITs, Infrastructure Investment Managers, Road / Highway Developers, Infrastructure Funds, Project Finance teams or Infrastructure-focused PE / Funds with hands-on experience in asset-level financial analysis and risk assessment will be highly relevant.

Candidate Targeting Priority Backgrounds

• Listed / unlisted InvITs and Investment Managers
• Road & Highway Developers / concessionaires
• Infrastructure-focused PE / Infrastructure Funds
• Project Finance / Infrastructure Finance teams
• Risk Management teams within infrastructure businesses
• Candidates with combined exposure to InvIT + Roads/Highways + financial modelling / project finance

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