Enterprise Risk Management and Control Manager at Oando

Purpose

The Enterprise Risk Management and Control (ERM&C) Manager assists the Group Head Risk Management and Audit to achieve the following

• Set the strategic risk management vision and deliver that strategy to the organization using exceptional leadership skills, network of internal and external stakeholders and highly developed business skills.
• Assess and evaluate the organization’s complete portfolio of risks
• Work with management to develop appropriate risk mitigation plans to address these risks in a manner that is consistent with the long-term strategy and overall risk appetite of the organization
• Plan, monitor and supervise the activities of the Enterprise Risk Management & Control Department
• Monitor and analyze risks and report key risks and status of risk monitoring activities timely to the Board and Risk Committee.
• Ensure the organization’s risks are within required tolerable levels and that there is the best balance possible between threats and opportunities – in line with the risk appetite and overall strategic direction of the Board and Executive Management.
• Executing and administering the organization –wide Enterprise Risk Management and Control Framework
• Ensuring laid down procedures and processes guiding all operations are adequate and up to date
• Ensuring controls have been implemented and mitigate identified and assessed risks
• Managing and supervising departmental staff, consultants and reviewing their work in detail.

Job Specification

• Support the Head RM&C & A in establishing the Enterprise Risk Management architecture for the company through the development and maintenance/update of the Enterprise Risk Management Framework (which include framework design, governance structure, implementation and operation).
• Develops Enterprise Risk Management tools, practices, and reporting templates to analyze and report enterprise risks, and to manage risks in line with the ERM framework.
• Establish and ensure the organization's risk management policies and strategies are in compliance with applicable regulations and overall strategic direction of the organization.
• Develop annually, the risk management plan enumerating the key tasks and activities of the unit as mandated by the oversight function of the Risk Committee
• Coordinate risk identification, risk assessments, evaluations and all other risk management activities (Enterprise, project and financing deal specific) for reporting to CEO and Board Risk committee as appropriate.
• Evaluate and provide reasonable assurance that risk management and control systems are functioning as intended and will enable the organization met its corporate objectives and goals.
• Track and report on emerging risks, events, key risk indicators (enterprise wide and project specific), ensure mitigation plans are in place, evaluate effectiveness of mitigation plans and ensure continuous monitoring and adjustment of policies, processes and procedures where necessary.
• Communicate information regarding business risks to relevant functions across the organization as well as be a key resource for the business units and shared services to identify and monitor emerging risks, risk mitigation plans and changing risk landscape.
• Create and maintain/update appropriate risk monitoring and measurement tools (enterprise risk registers and project specific risk registers) and ensure continuous updates driven by strategic changes, macroeconomic changes, operational events, global events etc .
• Keep abreast of current and new regional, national and global risk related policies and governance pronouncements and regulations that apply to the organization and ensure local compliance.
• Perform periodic risk assessment for monitoring risks and as an input for the internal audit unit‘s plan.
• Assist the Head RM&C and IA in working with the Board Audit and Risk committee in ensuring the identification and prioritization of risks and quarterly reporting of same.
• Make input in the Preparation of management and Board committee reporting documents summarizing project risk analyses and significant reporting matters.
• Liaise with department heads on the adequacy of proposed actions in management of risk areas highlighted in risk and internal audit reports.
• Monitor implementation of action plans to ensure risk mitigation efforts are proceeding as required.
• Monitor and report on compliance with regulatory requirements
• Review annual external audit reports to identify reported control deficiencies and assist process owners in remediating and redesigning controls if necessary.
• Member of the change management committee that manages and monitors all IT changes for propriety and accuracy
• Review segregation of duties (SOD) at both the user and role level. Ensure mitigating controls are in place where there are SOD conflicts
• Ensure the operating effectiveness of business continuity and crisis management plans in place to minimize losses in the event of severe business disruptions.

Internal Control

• Ensure the development, implementation, maintenance and continued improvement of the internal control environment.
• Coordinate documentation of finance and operational processes, review register of these processes, tracking all process changes and re- engineering of existing processes where and when required.
• Focus on continual process improvement, and rationalization of control measures to enhance effectiveness and efficiency of operations and realization of cost saving opportunities
• Ensure the development and periodic update of business process and procedure documentation, ensure appropriate implementation and monitor compliance
• Ensure design effectiveness and operating effectiveness of controls within all documented business processes
• Monitor adequacy of internal controls over the company operations and financial reporting.
• Manage the group and other subsidiaries to ensure all procedures and controls inherent in the business are documented and adhered to, ensure standardization across the group.
• Work with Group and other subsidiary companies to assess internal control, perform effectiveness test over processes with significant control deficiencies. Recommend solutions to issues arising from control review and ensure execution of remediation plans.

Qualifications & Experience

• A university degree
• Excellent knowledge of risk management, internal control processes, auditing and assurance procedures
• Certification in Accounting (ACCA,ICAN)
• Combined 8 -10 years’ post qualification experience in audit and risk management, which should entail
• Experience in accounting and Financial Reporting (IFRS)
• Understanding and experience of Sarbanes Oxley/C-Sox requirements
• Good knowledge of the regulatory environment and developments
• Significant Internal audit and assurance experience

Knowledge & Skills Required

• Excellent grasp of business risks - A strong grasp of risks and controls and a deep understanding of how risks impact the bottom line, enhancing credibility within the business
• Excellent communication (verbal and written), listening, presentation and facilitation skills.
• Good knowledge and understanding of oil and gas industry dynamics.
• Good and functional knowledge of financial reporting standards
• Excellent auditing and probing skills
• Excellent report writing skills with effective and precise communication to Board level and executive management cadres
• Strong analytical skills – performs useful analysis and interprets such for decision making
• Strong problem identification and problem solving skills
• Strong personality, multitasker with good organization skills to effectively manage and meet deadlines
• Excellent interpersonal and relationship-management skills to deal and maintain effective working relationships with board, executive and senior management cadres
• Demonstrates significant maturity, credibility and sound judgement in dealing with personnel across risk management, business lines, and support groups;
• Unflinching integrity and ethics – Possesses a strong ethical compass and contributes to the conscience of the organization
• Self-starter with ability to work independently and in teams
• Understands team dynamics and able to foster teamwork
• Effectively coaches and mentors less experienced colleagues
• Good knowledge of the regulatory environment and developments
• Ability to perform risk assessments and identify key business and financial risks
• Experience in conducting financial audits of public and/or private companies
• Good project management skills
• Proficiency in presentation, spreadsheet, word processing and TeamMate Audit and Risk Management System.
• Articulate and defend complex positions effectively.
• Possess a sound knowledge of internal business processes
• Strategic and creative change agent

Key Performance Indicators:

• Percentage completion of scheduled risk activities.
• Quality and completeness of risk registers (enterprise and and project related)
• Quality and timeliness of risk reports and updates
• Compliance with COSO standards
• Quality of documentation and work papers
• Timely remediation of external audit issues