PMO - Insurance Risk Management - TPRM

Project Manager / PMO – Third Party Risk Management (TPRM) – Insurance Regulatory Risk Management

Location - Mumbai/Pune/Bangalore/Noida/Gurugram (hybrid)

Experience - 5- 15 years

We are a leading operations management and analytics company that helps businesses enhance growth and profitability through analytics, automation, benchmarking, consulting, industry best practices, and technology platforms. We help organizations improve business outcomes, enhance customer experience, manage risk, and drive compliance transformation.

We serve industries including insurance, healthcare, banking and financial services, utilities, travel, transportation, and logistics.

Role Overview

We are looking for an experienced Project Manager / PMO – Third Party Risk Management (TPRM) professional with strong experience in the Indian Insurance Regulatory Risk Management domain.

The role requires an individual who can understand regulatory and operational control requirements, analyze existing gaps, drive remediation activities, document process changes, and work closely with business SMEs and risk stakeholders.

This role will work closely with the Chief Risk Officer (CRO) – India and will be responsible for managing regulatory remediation initiatives, TPRM governance, documentation, stakeholder management, and end-to-end delivery ownership.

The ideal candidate should have experience working within insurance companies in Risk Management, Regulatory Compliance, Vendor Risk Management, Procurement Risk, Outsourcing Governance, or TPRM functions.

Key Responsibilities

Regulatory Remediation & Gap Management

• Own and drive the remediation plan for identified regulatory and compliance gaps within Third Party Risk Management processes.
• Refresh, analyze, and maintain the existing list of pending regulatory gaps and define closure plans.
• Work with business SMEs and risk teams to understand operational controls, identify gaps, and implement remediation actions.
• Support documentation of process changes, control enhancements, governance frameworks, and remediation evidence.
• Ensure regulatory requirements are translated into actionable business processes.

TPRM Governance & Project Management

• Act as PMO governance owner for TPRM remediation initiatives.
• Provide structured governance support across:
• Vendor onboarding
• Third-party due diligence
• Risk assessments
• Monitoring activities
• Remediation tracking
• Regulatory compliance activities
• Drive project planning, milestone tracking, dependency management, RAID management, and executive reporting.
• Manage action items, risks, issues, and deliverables across multiple stakeholders.
• Support governance forums, steering committees, and risk review meetings.

Business Stakeholder Management

• Work closely with:
• CRO India
• Risk teams
• Business SMEs
• Procurement teams
• Compliance teams
• Legal teams
• Vendor management teams
• Act as the bridge between business teams and PMO governance teams.
• Drive alignment between regulatory expectations and operational execution.

Process Documentation & Control Framework

• Own end-to-end documentation including:
• Process workflows
• SOPs
• Control documentation
• Governance reports
• Regulatory evidence packs
• Identify opportunities for improving TPRM processes, reducing operational gaps, and improving compliance maturity.
• Ensure documentation reflects regulatory expectations and internal risk frameworks.

TPRM & Vendor Risk Management Responsibilities

• Support third-party risk lifecycle management:
• Vendor onboarding
• Risk assessment
• Due diligence
• Monitoring
• Control reviews
• Issue remediation
• Ensure alignment with:
• Insurance outsourcing regulations
• IRDAI expectations
• Data privacy requirements
• Internal risk management frameworks

Reporting & Stakeholder Communication

• Prepare executive dashboards, governance reports, and project updates.
• Track remediation progress and communicate status to leadership.
• Support APAC governance reporting requirements.
• Coordinate with APAC teams (Australia/Singapore) for governance cadence and reporting.

Mandatory Experience & Skills

Mandatory

• 8+ years of experience in:
• Insurance Risk Management
• Regulatory Compliance
• TPRM / Vendor Risk Management
• Outsourcing Governance
• Risk Remediation Projects
• Strong experience working within Indian Insurance organizations.
• Good understanding of:
• IRDAI regulations
• Insurance risk frameworks
• Regulatory compliance requirements
• DPDP Act / data privacy expectations
• Experience managing regulatory remediation projects.
• Strong project management and stakeholder management skills.

Preferred Experience

• Experience working in:
• Insurance companies
• Risk departments
• Compliance teams
• Procurement/vendor governance teams
• Exposure to:
• TPRM delivery
• Vendor governance
• Risk assessment frameworks
• Control testing
• Experience with PMO tools:
• Jira
• Reporting dashboards
• Project tracking tools

Candidate Profile

• Strong understanding of risk and compliance operations.
• Ability to independently analyze regulatory gaps and drive closure.
• Strong documentation and process improvement skills.
• Ability to work independently with business SMEs.
• Strong communication and stakeholder management skills.
• Ability to manage senior stakeholders including risk leadership.