Risk Management Specialist

Role Overview:

We are seeking a high-caliber Risk Management professional to architect and lead the risk governance landscape at Jio Insurance Broking Limited. This is not just a monitoring role; you will be responsible for building a scalable Enterprise Risk Management (ERM) framework that spans our D2C, POSP, Institutional and Embedded Insurance verticals. You will act as a strategic partner to the Chief Risk Officer (CRO) ensuring that our rapid innovation is matched by robust mitigation strategies.

Key Responsibilities:

1. ERM Framework & Governance

• Architect and implement a scalable ERM framework tailored for a Direct (Life & General) Broker
• Work closely with CRO to define risk appetite statements and tolerance levels for each business vertical
• Prepare sophisticated risk dashboards and heat maps for the Risk Management Committee (RMC) and Board
• Operationalize a board-approved Anti-Fraud Policy as per the IRDAI (Insurance Fraud Monitoring Framework) Guidelines 2025
• Develop and monitor RFIs specific to D2C digital journeys and POSP distribution channels
• Implement "Zero Tolerance" protocols for internal fraud, intermediary misconduct, and complex affinity fraud

2. Risk Identification & Assessment

• Identify and evaluate operational, strategic, financial, and regulatory risks across all business lines including D2C, POSP, Institutional, and Embedded Insurance
• Conduct periodic risk assessments and maintain a comprehensive Risk Register
• Perform risk analysis for new products, partnerships, and distribution models

3. Risk Monitoring & Controls

• Develop and implement risk mitigation frameworks and internal control mechanisms
• Monitor key risk indicators (KRIs) and ensure timely reporting of emerging risks
• Track risk incidents and ensure appropriate corrective actions are implemented

4. Business & Stakeholder Collaboration

• Partner with business teams to understand operational processes and identify potential risk exposures
• Provide risk advisory support to various business units and leadership teams
• Facilitate risk awareness and training across the organisation

5. Governance & Reporting

• Prepare risk reports and dashboards for senior management and relevant committees
• Support enterprise risk management initiatives and governance frameworks
• Ensure adherence to regulatory guidelines and internal policies

Eligibility / Qualifications:

• Bachelors or Masters degree in Finance, Risk Management, Insurance, or Business Administration

Experience:

• 5-6 years of experience in Risk Management in the insurance industry

Skills & Competencies:

• Strong analytical and risk assessment skills
• Understanding of regulatory and compliance frameworks in insurance broking business
• Stakeholder management and cross-functional collaboration
• Ability to interpret business processes and identify potential risk exposure
• Strong communication and reporting skills