Manager Risk Integration & Analytics

Purpose: 

This position involves proactively implementing and maintaining a resilient Risk Management Framework by placing a strong emphasis on continuous learning and deepening Risk Management expertise. The core responsibilities involve diligently categorizing risks using ERM methodologies and conducting comprehensive assessments. This role entails maintaining comprehensive risk registers, gathering data from stakeholders and other sources for applying risk intelligence to discern emerging risks. Furthermore, it involves monitoring and analysis of leading and lagging risk indicators for continuous risk assessment of existing risks, validation of risk mitigation strategies and tracking action plans.  These responsibilities provide a solid foundation in determining and managing risk exposure while cultivating and maintaining strong relationships with process owners. These responsibilities are carried out WITH the objective to enable risk management capabilities, improving efficiency in business processes, informed decision making ultimately contributing for the long-term sustainability of the organization WITHIN the limits of KE values, organization policies and SOPs, guidelines from supervisor and departmental guidelines and objectives. 

Education: 

CA / ACCA / MBA with relevant experience in a reputed organization with at least 2 years’ experience in managerial role. 

Knowledge & Skills: 

-Power utility industry including applicable regulatory framework. 

- Good understanding of Risk Management Frameworks especially COSO Risk Management. 

-Data analysis and visualization tools (Advanced Excel / Power BI/Qlik etc.). 

-Stakeholder and relationship management. 

-Ability to think critically and analytically. 

-Communication and decision-making skills. 

Experience: 

- (Fresh Qualified CA and 5 years for MBA/ACCA/CA Finalist)  

Competencies: 

DRIVES CHANGE > Value (ENERGIZED) 

DRIVES RESULTS > Value (CUSTOMER CENTRIC + ENERGIZED) 

MENTAL AGILITY > Value (ENERGIZED) 

INTERNAL & EXTERNAL STAKEHOLDER MANAGEMENT > Value (CUSTOMER CENTRIC + RESPECTFUL) 

Areas of Responsibility: 

Risk analysis and assessment (50%): 

• Conduct interviews, focused group / brainstorming sessions with Risk Champions to gather insights into potential risks. Encourage open and candid discussions. 

• Organize focus group sessions as a targeted engagement strategy which provides valuable insights and feedback on risk-related matters. 

• Monitor external sources such as industry reports, news, regulatory updates, and market analysis to identify external risks that may impact the organization particularly those that pertain to power generation and transmission. 

• Utilize risk checklists or questionnaires tailored to specific business processes and functions to prompt discussions and identify risks systematically. 

• Utilize quantitative and qualitative analysis techniques to assess the likelihood and potential impacts (financial, operational, reputational etc.) of identified risks.  Develop and analyze risk scenarios to better understand the range of potential outcomes associated with specific risks. 

• Align risk assessments with the organization's risk tolerance and appetite as communicated from the leads. Determine which risks are within acceptable limits and which exceed them. 

• Analyze risk incidents, including assessment, root cause analysis, and follow-on remediations as required. 

• Seek input from subject matter experts within organization to validate risk assessments and gain insights into potential mitigations. 

Risk Monitoring & Mitigation Validation (20%): 

• Identify and formulate key risk indicators that will be used to measure the status of each risk. KRIs should be quantifiable, relevant, and timely. 

• Regularly collect data and information related to the identified risks. This may involve internal data sources, external market data, and expert opinions. 

• Validate risk mitigation strategies and monitor the progress of mitigation efforts by collecting and analyzing relevant data and performance metrics. developed to address high risks.    

• Assess the risk's impact and likelihood to determine if mitigation efforts have effectively reduced the risk to an acceptable level. 

Risk Reporting, Communication & Documentation (30%): 

• Create reports summarizing the results of risk identification and assessment processes, including risk profiles, risk scores, and assessments of impact and likelihood. 

• Maintain a comprehensive risk register that catalogs all identified risks, their descriptions, potential impact, likelihood, risk owners, and other relevant details. Also perform quality assurance of risk registers to avoid duplications and improve overall quality. 

• Document the results of risk assessments, including assessments of impact and likelihood, risk scores, and any qualitative or quantitative data used in the analysis. 

• Establish and maintain audit trails that capture changes and updates to risk-related documentation. 

• Create a communication plan that outlines how and when risk-related information will be shared with Stakeholders, including the frequency and format of communication. 

• Work with risk champions and risk culture team to promote a risk-aware culture throughout the organization. 

• Collaborate closely with cross-functional departments and teams to gather valuable insights, ensuring that risk assessments comprehensively encompass all relevant facets of the business.