1. Formulate a Risk Policy to support the strategic objectives of the Company.
2. Ensure that the Risk Policy frame work is in compliance of the regulatory frame work and takes care of all internal and external risks.
3. Assess the risk profile of the products and processes of the Company and come out with recommendations to minimise the risks in them.
4. Establish a systematic risk frame work with a blend of technology to quantify & mitigate risks and to support business growth with minimal operational risk related losses.
5. Liaise with business teams and understand their requirements to pro actively have a robust risk frame work which will support business in their strategic objectives and also to get their buy-in to the risk frame work.
6. Plan and execute an effective Warehouse Audit Plan to ensure that major risks are prevented or detected at the earliest
7. Define a matrix to identify a major risk locations and ensure that they are well covered under the Audit Plan
8. Put in place a process to ensure that the identified gaps are closed at the earliest in close co-ordination with the Business groups.
9. Monitor the quantified risks at regular intervals and review the status of major gaps with CEO at regular intervals.
10. Put in place adequate checks & balances and controls to ensure that the Company does not incur any financial loss and if any loss incidence occurs in spite of all measures in place, work closely with Business Heads and ensure that the actual loss is minimal and also tighten the controls based on the lessons learnt from such incidents.
11. Ensure that adequate and correct insurance covers are in place to cover most of the risks faced by the Company and upon occurrence of any incidence, co-ordinate closely with Insurance Companies and Business to ensure minimal or nil financial loss to the Company.
12. Coordinate with HR to ensure that necessary Risk related KPIs are incorporated in the PMS of every team members.
13. Head the Management Risk Committee and coordinate its activities