Team Member - ORM

Identify potential risks/ control issues from various available records/ sources for timely remediation and strengthening internal controls.

1. Co-ordinate with BORMs/Process owners to ensure independent validation of RCMs and RCSA results shared by Business and Support Functions.
2. Review various available sources like GLs, System generated/ ad hoc operational reports, IT incidents log, Info Sec security logs, Customer Complaint data, Operations error log, etc. using analytics/ or manual review procedures to identify potential risk/ control issues.
3. Discuss identified potential risks/ control issues with Team Lead-ORM and Head-ORM for further investigation, reporting and remediation, as appropriate. 

Support KRI monitoring process for monitoring risk levels and direction.

1. Collect, analyze and prepare KRI breach report along with root cause, actions, action owners and timelines for review of Team Lead -ORM and Head-ORM.
2. Ensure timely publishing of correct KRI breach report to all stakeholders.

Manage open issues and actions from various sources for closure &/ or timely escalation of overdue items to strengthen ORM governance and oversight. 

Implement Issue and Action Management process by ensuring following - 

• Build a comprehensive tracker for issues and actions emanating from various source like approved Product notes/ revisions, review of SOPs, RCM reviews, RCSA results, KRI monitoring, Incident reporting including insurance claims, ORMC, RMC, etc. 
• Ensure periodic follow-up for timely and correct updation of tracker to facilitate availability of relevant data to various stakeholders. 
• Ensure timely reporting &/or escalation of overdue open issues &/or actions.

Assist in strengthening governance over outsourcing of financial service activities.

1. Implement approved Outsourcing Policy and various aspects of Outsourcing SOP.
2. Annual review of Outsourcing Policy and SOP for changes, if any.
3. Assist Head- ORM in ensuring adequate governance over outsourcing of financial service activities by Business and Support functions including co-ordination with Business/Support functions to facilitate pre-assessment of risks prior to outsourcing of new financial services activities. 
4. Ensure timely completion of periodic Outsourcing reviews by Business & Support functions as per regulations. Review submitted reports and prepare summary report for Board reporting.
5. Independent validation of Service Provider review reports submitted by Business and Support Functions. 

Assist &/ participate in various ORM initiatives to further strengthen ORM governance and oversight.

1. Review adequacy of risks covered in Insurance Policies and publish relevant information for reference and use by LOBs and Support Functions.
2. Assist in independent assessment of controls and remediation of gaps (including process control automation initiatives)
3. Execute &/or facilitate other ORM initiatives including detailed risk reviews/ process deep dives/ thematic reviews/ ad-hoc projects, etc.
4. Assist in collation and preparation of periodic/ ad hoc ORM reports for Senior Management, ORMC, RMC and Board.
5. Co-ordinate with Learning & Development team and Business/Support functions for execution of training strategies through online/ offline channels. 
6. Support automation of ORM processes by participating in system implementation, performance of UAT and resolution of UAT issues, on-going master maintenance, updation of ORM data (RCM updation, RCSA results, risk incidents, KRI, issues and actions, reporting module, etc.) and on-going change management activities.