MONICA MADAAN

Strategic and detail-oriented Operational Risk Professional with over 6 years of experience in the BFSI sector, specializing in risk identification, control assessment, regulatory compliance, and audit readiness. Proven expertise in implementing risk frameworks, enhancing internal controls, and driving risk mitigation initiatives across digital banking, home lending, and payment platforms. Adept at working with cross-functional stakeholders to strengthen operational resilience, investigate control failures, and ensure alignment with regulatory requirements. Recognized for a proactive, analytical approach and the ability to translate complex risk issues into actionable insights that support informed decision-making and sustainable business growth.

Airtel Payments Bank

 Business Controls & Operational Risk Manager
Delhi NCR, India | Jan 2022 – Present

• Reduced operational risk incidents by 30% by leading the implementation of control testing and monitoring frameworks across high-risk processes, ensuring alignment with regulatory and internal risk standards.
• Strengthened governance by conducting end-to-end RCSA exercises in collaboration with product, operations, and technology teams, enhancing visibility of residual risk across digital banking platforms.
• Improved issue closure rate by 40% by driving root cause analysis of audit and compliance issues and mapping control gaps to action plans through enterprise-wide tracking tools.
• Enhanced risk culture by designing and delivering operational risk awareness sessions for 100+ first-line employees, fostering proactive risk identification and reporting.

Protiviti India Member Firm

Senior Consultant – Internal Audit & Risk Advisory (Financial Services)
Gurgaon, India | Jul 2019 – Dec 2021

• Led 10+ operational risk reviews for banks and NBFCs, identifying critical control failures through walkthroughs and data testing, resulting in actionable risk remediation plans.
• Helped reduce regulatory non-compliance by advising clients on aligning control environments with RBI and SEBI guidelines, leading to improved inspection outcomes.
• Established control libraries and KRIs for fintech clients by mapping process risks to regulatory obligations and business objectives, improving internal monitoring effectiveness.
• Contributed to a 25% reduction in audit findings by redesigning key operational processes in loan processing and collections, aligning them with risk management best practices.

Ernst & Young (EY)

Advanced Associate – Risk Advisory Services
Gurgaon, India | Jun 2017 – Jun 2019

• Enabled a 20% improvement in control effectiveness by supporting risk transformation projects for Tier 1 financial institutions, including development of RCSA and risk registers.
• Strengthened compliance posture by evaluating KYC/AML processes and vendor due diligence controls through fieldwork and stakeholder interviews, leading to timely issue resolution.
• Accelerated issue remediation by 35% by coordinating with second-line functions to track incidents and validate closure, improving operational resilience.
• Improved audit readiness by drafting SOPs, control testing frameworks, and risk assessment templates tailored to clients' operational risk landscape, reducing regulatory scrutiny.

I hold a Master’s degree in Commerce, which provided a strong foundation in financial management, accounting, business law, and risk frameworks. This education has been instrumental in shaping my analytical and governance skills, directly supporting my work in operational risk, internal controls, and compliance within the financial services sector.