AVP/DVP Operational Risk – Third Party Risk Management

Support the Bank's Third-Party Risk Management and Outsourcing Risk Management function through independent risk oversight, challenge, monitoring and governance of outsourcing arrangements. The role is responsible for assessing the effectiveness of controls implemented by the First Line of Defence (LoD1), identifying emerging outsourcing risks, ensuring regulatory compliance, and strengthening the outsourcing risk framework.
Key Responsibilities:

Governance & Regulatory Compliance
• Strengthen the Outsourcing Policy and TPRM Frameworks across the Bank.
• Perform regulatory gap assessments against RBI guidelines, Master Directions and other applicable regulatory requirements.
• Drive implementation of regulatory changes and monitor compliance across business
• Support regulatory inspections, supervisory reviews and internal audits relating to outsourcing and third-party risk.

Material Outsourcing Review & Oversight




• Conduct half-yearly reviews of material outsourcing arrangements to assess compliance with regulatory and internal policy requirements.
• Evaluate the adequacy of risk assessments, monitoring mechanisms and control workplace maintained by business owners.
• Identify gaps, control weaknesses and emerging risks, and recommend appropriate corrective actions and risk mitigants.
• Monitor closure of observations and action plans arising from reviews.

Risk Governance for Vendor Lifecycle
• Provide independent risk oversight over onboarding, renewal, periodic review and off-boarding processes executed by the First Line.
• Assess adherence to policy requirements and approved risk management standards across the vendor lifecycle.
• Review exceptions, risk acceptance requests and control deviations, and provide independent risk views.

Independent Risk Assessment & Monitoring
• Review and challenge assessments & risk management practices relating to:
• Vendor performance and service delivery.
• Financial

📌 Operational Risk Manager Mumbai
🏢 Kotak Mahindra Bank
📍 Mumbai