Head Business Assurance at Stockgap Fuels Limited

The Head, Operations Risk and Compliance will promote continuity in Stockgap’s operations by ensuring business control policies and operational guidelines are in place thereby minimising exposure to potential risks and impact on business performance. The role will also ensure the effective execution of Stockgap’s Risk and Compliance framework as well as manage compliance policies, procedures and all matters related to regulatory compliance, issues management, governance, risk dealings and audit preparedness.

Job Details

Enterprise Risk Assessment and Planning

• Conduct regular assessments of the compliance and risk management culture of the group and submit reports to the Executive Director.
• Develop and provides better assessment of the risk management policies and procedures.
• provide guidance on policies and recommendations to mitigate threats, reduce or transfer risks and/or mitigate the effects of those which are essentially unavoidable.
• Review and develop Key Risk Indicators (KRIs) for identified processes, products and services and communicate same to business units and the group.
• Provide independent and objective assurance on the management of risks throughout the group
• Plan, design and implement a robust risk management process for the group, ensuring there is a system in place to identify and analyze all major risks on a regular basis 
• Support business units through promotion of risk awareness, development of risk profiles, mitigation of risks and effective implementation of agreed action plans.
• Establish Organization wide Risk Appetite for other levels or specific business sections.

Risk Management

• Work with Departments to communicate and drive the group’s risk management, HSE, compliance objectives and strategies.
• Conduct periodic compliance reviews, safety audits and statutory inspections of the group’s activities to ensure conformity with existing policies and procedures and monitor subsequent adherence to the compliance action plan. 
• Monitor and assess operational risk via Heat Map analysis for Risk and Control Self-Assessment (RCSA), control self-assessments and Key Risk Indicators (KRI) 
• Organize Operational Risk Management sessions with Heads of Business Units and Support groups to ensure their buy-in 
• Develop Business Continuity Management framework for the group 
• Review all contracts, MoUs, agreements and all documentation before the group commits itself and highlight the legal implications that need to be brought to the attention of the Management. 
• Maintain contract compliance in line with the group policies and procedures, ensure issues are resolved and escalated when necessary. 
• Advise management on issues related to the group's corporate reputation and recommend appropriate course of action 

Risk and Regulatory Compliance

• Make recommendations and manage the process for acquiring relevant regulatory certifications 
• Interface with external regulatory bodies regarding issues resulting from such bodies and resolves accordingly 
• Identify regulatory, contractual requirements, organizational policies and standards related to information systems to determine their potential impact on the business objectives. 
• Manage litigations involving the group, drive and institute litigation strategies and practical legal solutions to disputes while upholding the group’s legal position and reputation 
• Lead in the development of legal policies, processes, and procedures in line with the Nigerian law and the strategic objectives of the group
• Keep abreast of relevant laws, regulations and codes of good business practices and incorporates them into the internal risk framework 

Process Documentation

• Oversee the process of documenting and updating existing business processes across the Group
• Perform regular checks on completeness and adequacy of business process for all company operations
• Conduct regular training refreshes on business process and embedded controls to support the achievement of a sustainable controls’ environment

Process Efficiency and Improvements

• Perform regular process efficiency reviews to identify areas for improvement
• Make recommendations on areas of improvement for company-wide processes

Revenue Protection/Operational Cost Control

• Review performance of financial service providers on a regular basis and take steps to discontinue high-risk relationships.
• Prepare recommendations for cost reduction on a regular basis and monitor implementation of such recommendations
• Review projected and actual revenue/profit on significant transactions to ensure that they are within allowed tolerances/variances.
• Make recommendations to close non tolerable variances. 

Requirements

• Minimum of Bachelor’s Degree(Second Class Upper Division)/HND Upper Credit in any Social Sciences, Humanities or a related disciplines 
• Relevant professional certifications e.g. Certification in Risk Management Assurance (CRMA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified in the Governance of Enterprise IT (CGEIT), IT Infrastructure Library (ITIL),Project Management Professional (PMP), Six Sigma Professional, Certified in Risks and Information Systems Control (CRISC),Certified Risk and Compliance Management Professional(CRCMP) or other relevant industry certification 

A relevant postgraduate degree 

• Minimum of 14 years relevant experience in a similar role, out of which 5 years must have been in senior or managerial role
• Experience in financial services, specifically operations or audit