Job Title: Senior Manager/ Deputy Chief Manager Process Assurance & Risk Management (PARM)
Grade: L4/ L5
Job Title and Grade of Supervisor: L6 Chief Manager
Overview of Department: PARM is a central assurance unit of Kotak Life Insurance, in charge of internal audits, process reviews and assurance, operational risk management, and information security. The main objective of the team is to add value to the organization, by providing assurance in key areas and driving robust and efficient processes across the organization. The team has a high pressure, high visibility placement within the company and is looking out for competent professionals to fill up various roles.
Purpose of the Job / Primary Responsibilities: key responsibilities include (but are not limited to) the below aspects:
Process designing, drafting and review to ensure they are effective and efficient.
Detailed reviews of all existing policies/processes, to provide inputs for improvement from a risk & efficiency pointy of view.
Identification of design flaws and bottlenecks for new process set-ups and providing feasible solutions.
Driving efficiency projects with various stakeholders to drive excellence and optimum use of resources.
Executing process based/ compliance audits of critical areas, with end to end responsibility from scoping to issue of final report.
Providing financial assurance by conducting pre-payment audits for schemes, incentives and other payouts, as required from time to time.
Coordinating and executing various risk initiatives such as Risk & Control Assessments (RCSA), assessing and presenting risk based reviews, control testing of various reviews and providing assurance on their adequacy.
Preparation and presentations of Risk and Audit issues for the Risk Management Committees and Tier-I Audit Committees.
Driving a conducive risk culture in the organization through Operational Loss reporting, analysis of Key Risk Indicators and creation of Risk Control Matrices.
Coordinating with statutory auditors for ensuring smooth resolution of issues and adherence to IFC framework.
Kotak Mahindra Group
A legacy built over 2 decades Kotak Mahindra is one of... India's leading banking and financial services organizations, offering a wide range of financial services that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the diverse financial needs of individuals and corporate sector.
The group has a net worth of over Rs. 100.6 billion and has a distribution network of branches, franchisees, representative offices and satellite offices across cities and towns in India, and offices in New York, London, San Francisco, Dubai, Mauritius and Singapore servicing around 8 million customer accounts.
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