DBS Bank
Website:
dbs.com
Job details:
Business Function
The Risk Management Group (RMG) is responsible for the development and maintenance of robust risk management and internal control frameworks across the bank. RMG works closely with business and support units to identify, assess, monitor, and mitigate risks, ensuring the bank operates within its risk appetite while complying with regulatory requirements and industry standards.
Within RMG, the Operational Risk function plays a critical role in strengthening the bank's resilience by overseeing the management of operational risks across processes, people, systems, and external events. The team drives a strong risk culture, supports effective governance, and provides independent challenge to ensure sustainable business growth.
Job Purpose
The Head of Operational Risk is responsible for establishing, maintaining, and continuously enhancing the Bank's Operational Risk Management Framework to ensure effective identification, assessment, mitigation, monitoring, reporting, and governance of operational risks across the organization.
The role provides independent oversight of operational risk exposures and controls, drives a strong risk culture across the Bank, ensures compliance with regulatory expectations, and enables informed decision-making through effective risk governance and engagement with Executive Management, Board Committees, and Regulatory Authorities.
Key Accountabilities
- Own and continuously enhance the Bank's Operational Risk Management Framework in alignment with regulatory requirements, industry best practices, and strategic objectives.
- Establish governance mechanisms to ensure consistent implementation of operational risk policies, standards, and procedures across the Bank. The governance mechanisms to ensure adherence to group defined guidelines and Local regulatory guidelines.
- Ensure effective challenge and oversight of operational risk management practices across Business and Support Functions.
- Ensure effective challenge and oversight of business continuity practices across Business and Support Functions.
- Lead the development, review, and enhancement of Business Policies, Standards to ensure effective Operational Resilience.
- Oversee the implementation and effectiveness of operational risk management tools and methodologies, including:
- Risk & Control Self-Assessments (RCSAs)
- Key Risk Indicators (KRIs)
- Operational Loss/Event Management
- Control Testing Programs
- Scenario Analysis
- Stress Testing
- Emerging Risk Assessments
- Thematic reviews for risk hotspots.
- Ensure timely identification, assessment, escalation, and remediation of significant operational risks and control weaknesses.
- Lead the development, review, and enhancement of Operational Risk Policies, Standards, and Change Management Protocols.
- Ensure compliance with regulatory guidelines, supervisory expectations, and internal governance requirements.
- Serve as the primary point of contact for Operational Risk-related regulatory inspections, reviews, and supervisory engagements.
- Chair and coordinate Operational Risk Committees and related governance forums.
- Provide comprehensive risk reporting and insight to Executive Management, Board Risk Committees, and the Board of Directors.
- Ensure material operational risks, incidents, and control gaps are appropriately escalated and tracked to closure.
- Promote a strong risk culture and risk awareness across the Bank through targeted engagement, communication, and training programs.
- Partner with Business Heads and Functional Leaders to embed operational risk management into business decision-making and strategic initiatives.
- Provide expert guidance on operational risk matters, including new products, business transformation initiatives, outsourcing arrangements, and change programs.
- Develop strong partnerships with Audit, Compliance, Information Security, Legal, Finance, and other assurance functions.
- Drive a consistent and integrated view of operational risks and control effectiveness across the organization.
- Monitor remediation of audit findings, regulatory observations, and risk management action plans.
- Lead, mentor, and develop the Operational Risk team to build a high-performing and future-ready risk function.
- Manage workforce planning, succession planning, capability development, and resource allocation.
- Foster a culture of accountability, collaboration, continuous improvement, and professional excellence.
Duties & Responsibilities
- Provide independent oversight of operational risk exposures across all business and support units.
- Review and challenge risk assessments, mitigation strategies, and control effectiveness.
- Monitor operational risk trends, emerging threats, and external risk events impacting the banking industry.
- Oversee the collection, analysis, and reporting of operational loss data and risk events.
- Ensure robust governance around outsourcing, third-party risk, change management, and business disruptions.
- Support enterprise-wide resilience initiatives, including business continuity and operational resilience programs.
- Drive automation and digitization of operational risk management processes and reporting.
- Represent the Operational Risk function in senior management, Board, and regulatory forums.
Required Experience
- :20 years of experience in Banking, Financial Services, Risk Management, Audit, Compliance, or Control Functions.
- At least 8-10 years of direct Operational Risk Management experience.
- Proven leadership experience managing enterprise-wide risk programs and teams.
- Strong exposure to regulatory engagement, Board reporting, and governance processes
Education / Preferred Qualifications
Graduate / Post Graduate in relevant field.
Core Competencies
- Deep understanding of Operational Risk frameworks and methodologies
- Strong Relationship Management and influencing skills
- Good written and verbal communication skills
- Ability to deliver results within tight timelines.
- Attention to details, analysing abilities.
- Strong collaboration skills across business, support, and assurance functions.
- Team engagement, capability development, and succession readiness
Technical Competencies
- Understanding of banking and para-banking guidelines issued by RBI (local regulations in India) and local laws and regulations that impact businesses in general.
- Understanding of KYC requirements & Anti-money Laundering Policies.
- Knowledge of financial markets and products to assist in meaningful engagement with clients.
- Understanding of RBI guidelines on Operational Risk and Resilience.
- Understanding of Business Continuity frameworks.
Work Relationship
- Regular interaction with Product specialists for effective skill / knowledge development of self and explore potential in existing book through joint engagement with clients.
- Strong working relationship with Group RMG Operational Risk Team
- Impactful working relationship with Business and Support Unit COOs / UORM’s to drive OR / 2nd Lod objectives.
DBS India - Culture & Behaviors
- Performance through Value Based Propositions
- Ensure customer focus by delighting customers & reduce complaints
- Build pride and passion to protect, maintain and enhance DBS’ image and reputation
- Enhance knowledge base, build skill sets & develop competencies
- Execute at speed while maintaining error free operations
- Maintain the highest standards of honesty and integrity
Location:
Mumbai
Job:
Risk Management
Schedule:
Regular
Employee Status:
Full time
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