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Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited

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    Aditya Birla Sun Life AMC Limited

    Sidharth Damani Head – Business Enablement & Marketing

    Leadership Team

    Mr. Sidharth Damani is the Head of Business Enablement at Aditya Birla Sun Life AMC Limited. He has over two decades of experience and has been part of the organisation since October 1998.


    Siddharth holds a Bachelor’s Degree in Commerce from Sydenham College of Commerce and Economics, Mumbai and a Master’s Degree in Business Administration from Queensland University of Technology, Brisbane, Australia.

    Roles & Responsibilities with respect to Risk Management Roles & Responsibilities with respect to Risk Management

    SN

    Particulars

    1

    Define and delegate roles to the personnel within the operations function for identifying and reporting risks

    2

    Provide inputs to CRO to define risk threshold and risk appetite

    3

    Provide relevant information to CRO regarding the risks materialised

    4

    For the relevant functional risks, identify, analyze and report the following to the CRO and CEO along with recommended action plan for:

    o   Early warning signals

    o   Emerging risks

    o   Major findings

    o   Near miss and loss events

     

    o   Fraud incidents Ensure escalation of such incidents to CRO and CEO

    5

    Review the risk level for the functional risk and control framework

    6

    Ensure adherence with the DoP framework

     

    7

    Formulate, review, periodically provide inputs and report outcomes of the RCSA for key risks and controls

    8

    Identify and implement corrective actions / recommend action plans for deviations in the controls and present to CRO/ CEO

    9

    Perform and report outcomes of periodic testing of the RCSA to CRO

    10

    Ensure adherence to the SEBI risk management framework

    11

    Ensure adherence to the guidelines pertinent to SEBI in respect of RMF and relevant principles thereunder including risk identification, risk management, risk reporting (both periodic and escalation of material incident) and corrective actions taken.

    12

    Exceptions reported by Sales & Marketing basis reviews done for distributors

    13

    Monitor the distribution channels and miss-selling incidents reported such as –

    • o   Number of mis-selling incidents

    • o   Negative comments in the inspection report relating to distribution

    • o   Analysis of the portfolio of investors e.g. nature of investments vis-à-vis risk appetite of investor

    14

    Responsible for the governance (incl. reputation and conduct risk associated for the respective function)

    15

    Maintaining risk level as per the risk metric

    16

    Define specific responsibilities regarding risk management of key personnel reporting to CBO

    17

    Undertake immediate corrective action for non-compliance or major finding post approval from CEO as per DoP and shall report to CRO regarding the risk reports.

    18

    Perform adequate due diligence of outsourced vendors prior to onboarding

    19

    Ensure periodic assessment of outsourced vendors considering following elements:

    • o    Review of vendors' systems and processes

    • o    Monitoring of error tolerance and issues noted in vendor’s code of conduct and monitoring breaches

    • o    Monitor fraud vulnerabilities in the outsourced processes