Role Purpose

Responsible for independent risk assessment and oversight of Digital Banking products, payments, channels, operations, processes and third-party service providers. The role will support identification, assessment, monitoring and mitigation of operational risks while ensuring alignment with the organization’s risk management framework and applicable regulatory and NPCI requirements.

Key Responsibilities

- Digital Banking Product &
- Process Risk Assessment
- Review Digital Banking product and process notes from an Operational Risk perspective.
- Assess new and existing digital products, payment products, channels and Digital Banking operations to identify key operational risks and control requirements.
- Review product/process modifications and new initiatives to ensure appropriate risk identification, controls and governance.
- Provide independent risk inputs on Digital Banking products and processes prior to implementation or significant changes.
- Regulatory &
- NPCI Compliance Review
- Review Digital Banking products, payments, channels and operational processes for alignment with applicable regulatory requirements, NPCI guidelines and circulars.
- Verify relevant product/process documents and controls against applicable regulatory requirements.
- Review System Audit Reports (SAR), compliance certificates and other applicable assurance reports/certificates submitted by Business Units and vendors.
- Identify potential regulatory/control gaps and track agreed corrective actions.
- Risk &
- Control Self-Assessment (RCSA)
- Conduct and facilitate RCSA for Digital Banking products, processes and operations.
- Perform control testing to assess the design and operating effectiveness of identified controls.
- Identify control gaps, weaknesses and emerging risks and recommend appropriate corrective actions.
- Review Self-Identified Risks and Issues, ensure appropriate capture in the RCSA database and monitor remediation through closure.
- Digital Banking Thematic Reviews
- Conduct thematic risk reviews of Digital Banking products and processes based on emerging risks, incidents, regulatory developments and areas of heightened exposure.




- Assess end-to-end processes covering relevant digital products, payment journeys, channels, customer-facing processes and supporting operations.
- Identify common risk themes, control weaknesses and areas requiring process/control enhancement.
- KRI Monitoring &
- Risk Reporting
- Monitor and periodically evaluate Key Risk Indicators (KRIs) relating to Digital Banking products and operations.
- Review the relevance of KRIs, thresholds and underlying risk drivers considering changes in products, processes and risk landscape.
- Identify adverse trends, threshold breaches and emerging risks requiring management attention.
- Support appropriate risk reporting and escalation of material Digital Banking risks.
- Third-Party / Vendor Risk Management
- Conduct Vendor Risk Reviews for Digital Banking vendors, service providers and their subcontractors.
- Assess risks associated with outsourced/third-party Digital Banking and payment services, including operational, technology, cybersecurity, compliance, resilience and dependency risks.
- Review applicable vendor assurance reports, SARs and compliance certificates.
- Track Vendor Risk Review observations, remediation plans and agreed timelines through closure.
- Coordinate with Business Units and relevant stakeholders for timely remediation of vendor-related risk observations.
- Incident &
- Root Cause Analysis Review
- Review Root Cause Analysis (RCA) for incidents impacting Digital Banking products and operations.
- Evaluate identified root causes, control failures, corrective/preventive actions and recurrence risks.
- Assess significant incidents for potential control gaps and determine whether corresponding risks/issues require capture through the applicable risk governance process.
- Monitor agreed corrective actions through closure.
- Risk Governance &




- Stakeholder Coordination
- Coordinate with Digital Banking, IT, Information Security, Compliance, Audit and other relevant stakeholders for risk assessments and reviews.
- Support initiation and completion of audits, risk reviews and regulatory assessments involving Digital Banking.
- Track observations and remediation plans arising from risk assessments, thematic reviews, audits, vendor reviews and identified issues.
- Support escalation of significant or overdue risks and control gaps through appropriate governance forums.

Key Skills &

- Knowledge

- Digital Banking &
- Operational Risk Management
- Digital Products, Payments &
- Channels
- RCSA &
- Control Testing
- Regulatory &
- NPCI Guidelines
- Third-Party / Vendor Risk Management
- Digital Banking Product &
- Process Risk Assessment
- Thematic Risk Reviews
- Incident Management &
- Root Cause Analysis
- System Audit Report (SAR) Review
- KRI Monitoring &
- Risk Reporting
- Risk Issue Management &
- Closure Tracking
- Digital Payment &
- Channel Operations
- Audit &
- Compliance Coordination
- Operational Resilience
- Strong analytical, documentation and stakeholder management skills

Preferred Profile

- Experience in Banking/Financial Services, preferably within Operational Risk, Digital Banking Risk, Payments Risk, Technology Risk, Internal Audit or Compliance.
- Positive understanding of Digital Banking products, payment processes, digital channels and associated operational risks and controls.
- Working knowledge of applicable regulatory and NPCI requirements governing Digital Banking and payment products/processes.
- Experience in RCSA, control testing, incident/RCA review, KRIs, thematic reviews and risk issue management.
- Understanding of third-party/vendor risks associated with Digital Banking and payment ecosystems.
- Ability to independently assess risks and controls, identify gaps, recommend mitigation measures and coordinate remediation with multiple stakeholders.
- Strong written and verbal communication skills with the ability to articulate risk observations clearly to business and senior stakeholders.

📌 Senior ORM Analyst (Mumbai)
🏢 Yes Bank
📍 Mumbai