About the Role:
- This is a newly created role with the purpose to conceptualize and ensure emulation of global best practices for risk and governance framework.
- S/he will enable the balance between risk and reward with an aim to meet the required business KPIs.
- This is a strategic hire for the organization as it embarks upon an exciting phase of evolution and growth. The purpose is to onboard someone who can develop and lead the risk function at group level while working with the team to set the pace for the organization’s future.
- The incumbent will manage the risk framework structure, and regulatory strategy, responsible for proactive governance and management to identify, evaluate, mitigate and monitor the company’s operational and process risk.
Execute a robust Enterprise Risk framework for the organization (guided by its vision, mission, philosophy, objectives and policies), including risk policies, metrics, reporting and monitoring, and ensure alignment with the Corporate Strategy.
Ensure that the Risk Management Framework facilitates continuous improvement of the organization’s capabilities for management of top priority risks. Support leadership in ensuring that risks are mitigated to the desired level.
Develop risk maps and formulate strategic action plans to help minimize, manage, and mitigate primary risks and then monitor the progress of these efforts.
Design and implement methods for avoiding potential threats using available risk metric software and knowledge of the industry.
Responsible to mitigate three main types of risks – financial, operational and technological risk.
Ensure Implementation of the governance across the business groups and enterprise functions as defined.
Risk analysis and assessment
- Measure the organization's risk appetite and set thresholds that the organization is able and willing to take on.
- Recognize the potential threats to the stability of the organization.
- Coordinate programs designed to minimize / anticipate potential threats; Ensure timely AU Risk assessment with controls team
- Prepare and maintain internal and external data gathering for risk analysis and reporting.
- Generate reports, as defined and share with concerned stakeholders.
Strengthen Governance and Control
- Lead improvements and design of innovative industry-wide compliance, governance and control practices
- Assess and understand corporate governance involving external risk. Stay abreast of current events and the regulatory environment
- Implement governance, risk and compliance processes to continuously monitor information security controls, exceptions, risks, testing etc.
- Schedules regular assessments and testing of effectiveness and efficiency of controls and create governance reports.
- Finalize and complete the governance related corrective actions as per the SHRP issue.
Stakeholder and Team Management
Partner with Audit, Compliance, Risk, Finance, Legal and other functions to continuously identify and address areas requiring attention
Present recommendations to Executive Leadership group detailing the benefits and associated risks.
Ensure communication of plan with Business stakeholders to gain their commitment and buy in, as needed
Provide guidance, support and coaching to executives to use best practices and help instill change in their teams, as well as directly supporting project teams during the change transition period
Promote experimentation and learning and embed it in execution as well as company culture with training efforts, as needed
Build relations with various key external and internal stakeholders, across levels and functions.
Maintain a strong active network with relationships with all relevant government and regulatory organizations.
This is a newly created role and an extremely critical appointment. The role holder will be a dynamic risk leader as the custodian of the organization’s health. S/he should therefore bring:
12-15+ years of experience in Risk & Control, Audit, etc. with a stint in a financial services industry, preferably from a similar ecosystem.
Proficient with risk management, auditing techniques, and accounting standards and principles. Experience of setting up the function (from start-up to scale) will be an added advantage.