Risk Management-Operation risk-Mumbai

Job Description:

Implementing and embedding the Operational risk framework to identify, assess,
monitor Outsourcing risk
 Ensuring Gatekeeping of all new outsourced vendors to ensure onboarding
requirements are completed prior to vendor services being consumed.
 Co-ordination with Payments Teams to ensure ORM approval is validated before
vendor creation and processing payments. Regular recon with the Payment systems
to validate vendor codes.
 Monitoring of activities outsourced to vendor and their performance through half
yearly review of outsourcing activities and annual review and BoD note preparation
for Material outsourcing
 Above monitoring includes review of various aspects such as scorecard prepared by
Business, appropriateness of agreement terms and agreement validity, availability
of insurance as applicable, financial condition, subcontracting, events reported
internally or externally, outcome of audit or CISO team reviews, concentration
risks, negative media reports, BCP and contingency plans etc.
 Conduct half yearly material outsourcing review, identify & assess gaps and suggest
mitigants to eliminate / control / monitor outsourcing risks
 Identify and analyse high risk activities and attributes and implement requisite
controls to manage risks
 Manage activation and deactivation of vendors basis availability of required
documents.
 Implementing processes and control framework for off boarding vendors
 Reviewing the Outsourcing Framework and Policy at re-defined/ regular intervals or
basis need and suggest changes required for superior workflow and better controls
 Handling RBI and other regulatory requirements. Ensure the Outsourcing Policy and
Framework is in line with the RBI circulars and Master Direction on Outsourcing.
 Lead Projects undertaken wrt automation of workflows for improved TATs and
service delivery.