Designation: Manager

Location: India Maharashtra G-Corp Tech Park, Thane

Organization: Financial Services

Job Description:

Job Purpose

The purpose of the role is to provide leadership and direction for efficient and effective governance and management of significant risks, and related opportunities, to the business and its various segments with an objective to ensure that business is conducted in compliance with the regulatory and internal norms and within the accepted risk appetite. The key risks are strategic, reputational, enterprise, operational, financial, information security, business continuity, investment and regulatory-related.

Job Context & Major Challenges

Job Context: The purpose of the role is to provide leadership and direction for efficient and effective governance and management of significant risks, and related opportunities, to the business and its various segments with an objective to ensure that business is conducted in compliance with the regulatory and internal norms and within the accepted risk appetite. The key risks are strategic, reputational, enterprise, operational, financial, information security, business continuity, investment and regulatory-related.

Job Challenges: • The business setting is becoming volatile. Defining and communicating acceptable risk at all level in complete and clear manner is difficult.

- The interdependency of risk factor & external & internal events have increased which is making risk more volatile & less comprehensible.

- In a competitive business environment ensuring that business is done in rightful & compliant manner is important to protect shareholders reputation but difficult.

- The regulatory environment is changing at fast pace. With the dynamic market conditions & changing regulatory aspects carrying out correct & timely interpretation of the revised regulatory framework is crucial to proactively advise to amend business plans to achieve business objective.

- The privacy laws are becoming stringent ensuring adherence when wide geographical spread and a large people dependent organisation is a challenge.

- Aligning the information security with the fast paced technological advancements is difficult & expensive proposition.

- Nature and frequency of disasters are increasing at high pace. Meeting customers’ expectation of seamless delivery in all scenarios is a challenge.

- BSLI launches innovative products with guarantees. Managing guarantees in proactive manner to protect BSLI from financial loss is difficult.





- With the increase activities of terrorism the governments around the world wants higher controls on money movements. Non compliance or erroneous transaction may lead to sanctions and penalties on the company.

Key Result Areas

KRA (Accountabilities) (Max 1325 Characters)

Supporting Actions (Max 1325 Characters)

KRA1

Lead, Drive & Build BSLI position and strategy on risk management

1. Build Governance & operating structures to conceptualise, define and fix parameters for BSLI to identify risks

2. Build BSLI’s approach to the identified risk and developed the governance and operating framework.

3. Lead to develop policy framework, advise on implementation to ensure adherence to overall risk management agenda.

KRA2

Develop the overall regulatory risk framework to ensure that the business is done in compliance with the regulatory norms

1. Interpret, and advise management, committees on the regulatory norms.

2. Recommend BSLI stands on the regulatory norms to all function to ensure adherence with all the regulatory norms.

3. Review regulatory exceptions and advise action against them.

4. Oversee initiatives aimed at ensuring effective adherence to the regulatory framework of IRDA and other regulatory bodies

5. Work with the regulator & industry bodies on development & review of regulatory norms

6. Ensure smooth closure of IRDA audit

7. Setup an effective anti money laundering programme to ensure compliance with the PMLA guidelines.

8. Fix accountabilities and oversee qualitative, timely & accurate regulatory reporting

9. Build relationship with the Regulators, SROS, & other industry players

KRA3

Define and monitor the BSLI Enterprise and Operational Risk Management Strategy framework to ensure effective implementation of risk based capital framework.

1. Build the ERM & ORM framework for the organisation as per the recommendation of the board and shareholders

2. Advise & guide the management team & functions on ERM & ORM to ensure proper risk management

3. Develop and Review metrics, benchmarks, identify deviation and recommend solution and action plan.

4.



Develop extensive & logical database to support effective implementation of risk based capital regime.

5. Oversee initiatives aimed at ensuring effective adherence to the ERM ORM framework

6. Fix accountabilities and oversee qualitative, timely & accurate internal reporting for effective decision making

KRA4

Manage over all investment & asset liability risk for the organisation

1. Build overall investment & asset liability management framework for the organisation

2. Develop performance & risk indicators, benchmarks, review deviations & recommend solutions.

3. Manage overall guarantee risk

4. Member of the Investment committee & Asset liability Committee

KRA5

Ensure a high degree of BCP preparedness for the organization in the event of any catastrophic event.

1. Validate & get BSLI Business Continuity Plan (BCP) framework ISO certified

2. Develop a governance structure to meet BCP requirements

3. Review testing results to further enhance the BCP framework & identify new requirements to meet the future business requirements.

4. Oversee initiatives and set accountabilities for ensuring preparedness to meet any eventuality

KRA6

Define and drive an effective information security framework for BSLI

1. Build an overall information security governance & operating framework in line with the ISO 27001

2. Oversee initiatives and set accountabilities to ensure compliance with IT act, Privacy laws, and protection to BSLI confidential information & Customers’ personal information.

3. Advise management & function to ensure proper protection of BSLI information asset.

4. Develop framework to manage exception and err events & personnel.

KRA7

Build relationship & drive changes with the regulators, industry bodies, SROs, promoter group

1. Build relationship with the regulatory and industry bodies to drive possible regulatory review & development of new norms.

2. Work with the shareholders to consolidate the risk & develop future plan that can be implemented across other businesses

3. Recommend the best practices and possible amendments to the peers & other market participants

KRA8

Team Management

1. Build and maintain sustainable organisation structure for the function

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

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

📌 TM-Mgr-S ZO-Thane (Maharashtra)
🏢 Aditya Birla Group
📍 Maharashtra