Job Title Assistant Vice President – PPAC Governance & ORM (Second Line of Defence) Reporting To Vertical Head– PPAC Governance & Retail Asset ORM

Job Code ID Business Unit Risk Management

Grade/ Level G7-G6/AVP/VP Sub Business Unit ORM- (Second Line of Defence)

Management

Band Location

Section II: JOB ROLE SCOPE

Number of Direct

Reports NA Financial Metrics (Budget, Revenue, etc.) -

Total Team Size

SECTION III: PURPOSE OF THE ROLE The role is responsible for governance, execution, and oversight of PPAC (Product & Process Approval Committee) framework, ensuring all product/process changes are reviewed, challenged, and approved in line with regulatory requirements, internal policies, and risk governance standards.

Additionally, the role supports implementation and governance of ORM tools and frameworks, strengthening second-line oversight and ensuring effective operational risk management across business units.

SECTION IV: KEY RESPONSIBILITIES & KPIS OF THE ROLE

Responsibilities KPIs

Strategy and

Planning Drive implementation and continuous enhancement of PPAC Policy & Framework in alignment with regulatory expectations and business strategy Support development of product and process governance strategy, ensuring robust risk-based decisioning Contribute to strengthening the Operational Risk Management (ORM) framework across the Bank Identify opportunities to streamline PPAC processes, improve turnaround time, and enhance governmental efficiency Support roadmap for ORM tool implementation and digital risk governance initiatives

PPAC Governance & Reporting PPAC Governance on Compliance PPAC Governance on Internal Audit ORM tool Implementation Outsourcing & Business Continuity Management PPAC Automation PPAC Governance & Reporting PPAC query Management & Staff Training and awareness Product Management Product Management Strengthening First Line of Defence (through BUCOs)

Policies, Processes

& Procedures

- Ensure adherence to PPAC Policy, Framework, and Minor/Major classification guidelines across all proposals
- Develop and institutionalize standard operating procedures (SOPs) for PPAC governance, review, and approval workflows
- Periodically review and update policies to ensure alignment with: o RBI guidelines o Internal ORM policies o Industry best practices
- Ensure consistency and standardization in: o Proposal documentation
- Risk assessment templates o Governance notes and approvals
- Support implementation of ORM frameworks such as RCSA, KRI, Loss Data, Risk Acceptance processes

Business Development (Governance-aligned, not revenue-driven)
- Enable business by ensuring timely and structured review of products/process changes under PPAC
- Provide risk advisory and guidance to business teams on governance, regulatory, and operational risk aspects
- Facilitate go-to-market readiness by ensuring proposals meet governance and approval requirements
- Balance business agility with risk governance, ensuring no compromise on regulatory or control standards




- Act as an enabler for innovation and product enhancements within defined risk appetite

Performance Monitoring &

Reporting Develop and track PPAC governance metrics, including:

- Approval timelines
- Proposal quality
- Rejection / rework rates Maintain centralized repository of:
- Approved proposals
- Modifications and renewals
- Exceptions and deviations Prepare periodic MIS and dashboards for:
- Senior management
- Risk committees (e.g., ORMC) Monitor adherence to:
- Governance timelines
- Approval processes
- Regulatory compliance Support ORM reporting:
- Risk dashboards
- KRI trends
- Loss data analysis

Relationship Management Act as central coordination point between:
- Business / Product teams
- Risk, Compliance, Legal, Operations, Technology Build strong working relationships to ensure seamless PPAC governance execution Drive alignment across stakeholders for timely proposal closure and approvals Engage with senior stakeholders to:
- Resolve bottlenecks
- Escalate governance concerns

Support cross-functional collaboration on risk and governance initiatives

Customer

Relationship

Management (Indirect governance lens)

- Ensure all product/process changes are assessed for: o Customer impact o Fairness and transparency
- Embed customer protection principles in PPAC review process
- Identify and challenge proposals that may involve: o Adverse customer impact o Mis-selling or suitability risks
- Ensure compliance with RBI customer protection guidelines and service standards
- Promote customer-centric governance in product lifecycle management

Risk and Internal Control Provide independent second-line review and challenge for all PPAC proposals Assess operational, regulatory, and compliance risks arising from:
- Product launches
- Process modifications Identify gaps in:
- Control environment
- Risk mitigation measures Ensure proposals align with defined risk appetite and ORM framework Support ORM processes:
- RCSA execution and validation
- KRI monitoring and threshold analysis
- Loss event capture and analysis Drive ORM tool implementation and governance, ensuring:
- Data accuracy
- Timely risk capture
- Control monitoring Escalate key risks and governance concerns to senior management and relevant committees

People Management (If handling team / future role readiness)
- Guide and mentor team members on: o PPAC governance framework o Risk assessment methodologies
- Ensure team capability building in: o Regulatory understanding o Operational risk management
- Drive a culture of: o Strong governance discipline o Independent challenge mindset
- Allocate and monitor workload to ensure: o Timely delivery o High-quality outputs
- Support talent development and succession planning within the ORM Governance function





SECTION V: OPERATING NETWORK Internal The role requires extensive coordination across multiple internal stakeholders to ensure robust PPAC governance and effective ORM implementation. Key Internal Stakeholders:
- Business / Product Teams o Primary proposers for PPAC submissions (new products, modifications, renewals) o Interaction for proposal clarification, risk alignment, and governance compliance
- Risk Management (ORM / Enterprise Risk) o Alignment on operational risk frameworks, risk assessment, and control adequacy o Coordination for RCSA, KRI monitoring, and risk reporting
- Compliance Function o Validation of regulatory requirements and adherence to RBI guidelines o Review of regulatory implications for PPAC proposals
- Legal Function o Vetting of contractual, legal, and documentation aspects of proposals o Identification of legal risks and dependencies
- Operations (Central / Business Operations) o Process impact assessment and operational feasibility o Evaluation of process changes, workflows, and dependencies
- Technology / Digital / BDTS o Assessment of system changes, integrations, and implementation feasibility o Alignment on technology risk and control workplace
- Finance / Accounts o Input on costing, GL impact, and financial implications of changes
- Internal Audit o Alignment on audit observations and closure of PPAC-related issues o Support during audits and governance reviews
- Senior Management / Risk Committees (e.g., ORMC, PPAC Committee) o Reporting, escalation, and governance updates o Presentation of key risks, decisions, and recommendations

External The role involves limited but critical interaction with external stakeholders, primarily in the context of regulatory compliance and audit requirements. Key External Stakeholders:
- Regulatory Authorities (e.g., RBI) o Ensuring PPAC governance aligns with regulatory expectations o Support during inspections, regulatory queries, and thematic reviews
- External Auditors o Facilitation of audits related to:
- Product governance
- Operational risk framework o Providing documentation, clarifications, and closure of audit observations
- Consultants / Risk Advisors (if applicable)
- Engagement for:
- ORM tool implementation
- Framework enhancement
- Best practices benchmarking
- Vendors / Technology Partners (for ORM tools) o Coordination for implementation and enhancement of ORM systems o Ensuring tool functionality aligns with risk governance requirements

SECTION VI: ROLE PROFILE REQUIREMENTS

Education Qualification

- Chartered Accountant / MBA (Finance/Risk) / Equivalent

Experience 8–12 years in Banking / NBFC At least 5+ years in:
- Operational Risk / Risk Governance
- Product / Process Governance / PPAC / NPAC

Competencies CORE COMPETENCIES LEADERSHIP/ BEHAVIORAL COMPETENCIES
- Strong understanding of:
- Product governance / PPAC frameworks
- Operational risk management frameworks
- RBI regulatory landscape
- Experience in:
- Risk assessment methodologies
- Governance forums / committe

📌 ORM Analyst (Mumbai)
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📍 Mumbai