Snr. Mgr Compliance at Food Concepts Plc

Job Objective and Summary

• To ensure the company conducts its business in full compliance with all national and international laws and regulations that relate to the Quick Service Restaurant sector, as well as professional standards, accepted business practices, and internal standards.
• To design, implement and co-ordinate compliance activities across the business, to ensure compliance with the company’s policies and procedures, rules, and regulations as well as statutory requirements.

Core Responsibilities and Key Result Areas

Strategic Planning and Alignment

• Participating in planning and implementing policies that promote ethical business practices within the organization
• Identifying risks to an organization’s compliance with laws or regulations and recommending solutions to improve compliance
• Liase with regulators (government officials- SEC and others) to discuss compliance issues and potential violations
• Regular reviewing employee records to identify potential conflicts of interest or other ethics violations
• Regular review of the company policies and procedures to ensure compliance with industry standards
• Understand and keep abreast of all compliance-related laws, regulations, and guidelines that apply to the organization and company policies and procedures to ensure compliance with industry standards
• Serve as a resource to other departments on compliance-related issues
• Provide business partnering that champion high quality customer outcomes and supports the risk owner in providing appropriate guidance, consultation, and challenge.
• Operate as business partner, building relationships with senior colleagues in the areas including the improvement in product sales and growth of the business.
• Developing and implementing training programs for employees on business ethics, policies and procedures
• Closely work and support the Head, Risk and Compliance in contributing to the continuous improvement and development of the Compliance advisory function and deputising in his absence and where necessary.

Risk/Quality Monitoring

• Lead compliance team to conduct Operational Compliance standard (OSC) with company operations to adhere with federal laws and regulations in locations of existence
• Follow up with other departments within the business to ensure timely renditions of regulatory reports
• Monitoring of legal developments specific industries or areas of law that could impact the organization’s operations
• Develop, implement, and maintain compliance programs and policies designed to prevent or resolve violations of legal requirements
• Maintain records of compliance activities
• Investigate instances of non-compliance with internal processes and policies, laws, or regulations
• Report violations to Line Managers also top management, provide corrective action plans on gaps identified and follow up to ensure resolutions.
• Monitor changes in relevant laws and regulations and assess the impact on the organization’s compliance program
• Proactively monitor operational standard and provide assurance on the effectiveness and efficiency of operating systems, recommending changes where necessary and as required.
• Conduct risk assessments to identify potential areas of compliance vulnerability and risk
• Report variance and ensure proper follow up
• Monitor the implementation of internal audit and external audit recommendations to ensure the satisfactory resolution of identified significant issues
• Report on company’s compliance with IFRS (International Financial Reporting Standards).
• Develop and maintain the company’s Quality Management system, ensuring full compliance with its guidelines and a consolidated uniform approach across the company
• Ensure that conduct and regulatory risks are appropriately evaluated and escalated to deliver the right customer and operational outcomes.
• Ensure appropriate and timely escalation of regulatory and conduct risks and issues.
• Work closely with the Quality Assurance and Head of departments in overseeing compliance procedures and advise on risk management

Key Responsibilities for the new role

Advisory:

• Provide essential advice and support to ensure the business operates within compliance frameworks, emphasizing customer-centricity and regulatory obligations.
• Oversee and advise on regulatory change management, ensuring effective systems and controls for optimal customer and operational outcomes.
• Offer regulatory and conduct risk opinions on complex projects, contributing to steering committee meetings.
• Proactively identify operational improvements, providing advisory functions, and co-owning successful implementation.

Compliance Strategy and Leadership:

• Develop and implement a strategic compliance framework aligned with business objectives.
• Provide strategic leadership, fostering an ethical culture throughout the organization.

Regulatory Analysis and Guidance:

• Stay informed about changes in laws, regulations, and industry standards affecting the QSR sector.
• Provide expert guidance to the executive team and operational units on compliance matters.

Policy Development and Implementation:

• Oversee the creation, review, and implementation of policies, ensuring compliance with regulations.
• Collaborate with cross-functional teams to integrate compliance requirements into daily operations.

Training and Education:

• Develop and implement comprehensive training programs for employees on compliance policies and procedures.
• Ensure staff awareness of their responsibilities in maintaining compliance.

Risk Assessment and Management:

• Conduct regular risk assessments to identify compliance risks and vulnerabilities.
• Implement risk management strategies for mitigation and continuous improvement.

Monitoring and Reporting:

• Establish monitoring mechanisms for compliance metrics and key performance indicators.
• Prepare regular reports for executive leadership and the board on compliance status.
• Investigations and Response:
• Oversee investigations into compliance violations, ensuring timely and appropriate responses.
• Implement corrective actions and preventative measures.
• Ethics and Whistleblower Programs:
• Develop and maintain an effective ethics program, ensuring a confidential and transparent process for reporting concerns.

Collaboration with Regulatory Bodies:

• Build positive relationships with regulatory agencies, serving as the primary point of contact for inquiries and inspections.

Crisis Management:

• Develop and implement crisis management plans for compliance-related emergencies.
• Coordinate responses during crises to protect the organization's reputation and legal standing.

Reporting and Supervision

• Plan, assigns and supervises Compliance Unit staff
• Implement compliance operations and assign duties
• Plan, schedule, coordinate, review, and report on the work of compliance activities
• Follow-up on compliance monitoring to ensure that regulations and internal policies and processes are being met and that best practices are followed

Key Performance Indicators

• Rate of compliance with applicable regulations
• Achievement of sensitization on changing/evolving regulations on company products
• Quality of risk control assessments
• Accuracy of compliance documentation
• Efficiency and Effectiveness of process control

Knowledge Requirements

• Knowledge of legislations, its changes and developments as they affect the Food Industry,
• Knowledge of Fundamentals of Accounting
• Knowledge of Risk & Compliance standards or processes
• Knowledge of legal standards and in-house policies
• Knowledge of reporting procedures and record keeping
• Knowledge of the QSR/Food Industry practices

Job Specifications

• A good first degree in Accounting/Finance
• Possession of a Post graduate degree in Finance/Accounting or related degree is an added advantage
• Membership of ICAN, ACCA, ACA, CIS, CIMA, or any other related professional qualification is required.
• Minimum of 8-10 years’ experience in a similar role, especially in the QSR/FMCG sector

Decision Expectations

• Acts on defined procedures and decisions
• Plans own work schedule and work schedule of subordinates
• Assigns work to subordinates
• Monitor subordinates’ work performance
• Appraises/evaluates subordinates’ performance
• Recommends operational, strategic, and financial decisions