Reports to: Manager Risk Officer
Supervises: None

No’ of Supervisees: None
Department: Strategy, Risk, and Regulation

Duty Station: Duty Area

Job Purpose

The Risk Officer at UEDCL is responsible for identifying, assessing, and mitigating risks across the organization. The role involves conducting risk assessments, developing risk management strategies, and ensuring that the company’s risk exposure is managed effectively. The Risk Officer will work closely with other departments to ensure that risks are identified early and that appropriate strategies are implemented to minimize their impact on the organization.

Impact

This position plays a critical role in safeguarding UEDCL’s operations, reputation, and financial stability by identifying and managing risks. The Risk Officer’s contributions help ensure that potential risks are minimized, which enhances the company’s ability to achieve its strategic objectives and comply with regulatory requirements.

Key Result Areas

• Identify and assess potential risks that may affect the company’s operations, projects, and strategic objectives, including financial, operational, compliance, and reputational risks.
• Conduct risk assessments and prepare detailed risk reports to highlight risk exposures and vulnerabilities within the company.
• Develop and implement risk management strategies to mitigate identified risks and ensure the company’s resilience in the face of uncertainty.
• Monitor and review the effectiveness of risk management strategies and ensure that they are updated as necessary to address emerging risks.
• Work with internal teams and senior management to ensure that risk mitigation measures are integrated into operational and strategic planning.
• Provide advice and recommendations to senior management on risk management processes and ensure that risk-related information is communicated clearly.
• Assist in preparing risk management reports for internal stakeholders and regulatory bodies, ensuring compliance with risk-related reporting requirements.
• Review and ensure compliance with internal policies, procedures, and regulations related to risk management.
• Stay updated on industry trends, best practices, and regulatory requirements related to risk management, and incorporate these insights into the company’s risk strategy.
• Conduct training and workshops for employees to raise awareness of risk management principles and their role in mitigating risks.
• Perform any other duties or tasks as assigned by the Head of Strategy, Risk, and Regulation.

Expected Output

• Timely identification and assessment of risks, with clear and actionable risk mitigation strategies in place.
• Regular risk reports that provide senior management with a clear understanding of the company’s risk exposure.
• Effective monitoring and review of risk management strategies, ensuring they are fit for purpose.
• Effective communication of risk-related information to senior management and other departments.
• Enhanced risk awareness and compliance with risk management protocols across the organization.
• Successful implementation of risk management initiatives, reducing overall risk exposure.

Person Specifications

Academic Qualifications

• Bachelor’s degree in Risk Management, Business Administration, Finance, or a related field.
• A Master’s degree or professional certification in Risk Management (e.g., CRM, FRM) would be an advantage.

Experience

• At least 3 years of experience in risk management, internal audit, or a related field.
• Experience in identifying and assessing risks within a corporate or regulatory environment.
• Proven experience in developing and implementing risk management strategies.
• Familiarity with the utility sector and the associated risk landscape is a plus.

Competencies

• Strong knowledge of risk management frameworks, methodologies, and tools.
• Excellent analytical skills, with the ability to identify, assess, and mitigate risks effectively.
• Strong communication skills, both written and verbal, with the ability to convey complex risk issues to senior management and stakeholders.
• Detail-oriented with a strong ability to document and report risks and mitigation actions.
• Strong problem-solving skills and the ability to think critically and strategically.
• Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint) and risk management software.
• Ability to work independently and collaboratively, building relationships with various departments to support risk management efforts.

Working Environment

• Office-based, with occasional site visits or fieldwork for risk assessments or to monitor risk mitigation strategies.
• Flexibility in working hours may be required to meet urgent risk-related issues or project deadlines.

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