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Purpose:

The Enterprise Risk Management and Control Supervisor under the direct supervision of the Enterprise Risk Management and Control Manager (ERM&C Manager) carries out the following key tasks towards the achievement of the overall departmental objectives;

• Identify and collate the organization's complete portfolio of risks
• Assess and evaluate these risks
• Monitor and analyze key risks
• Document /Update business processes
• Assess the operating and design effectiveness of internal controls ( including financial reporting controls) implemented to address identified risks - ensuring financial controls are appropriately designed – mitigating inherent risks, implemented and operating as designed.
• He/She is responsible for data gathering, measurement and analysis of financial, operational, strategic and regulatory compliance risk in the organization in order to assess and ensure timely reporting of all issues noted for the ERM&C Manager’s consideration.

Supervisory Responsibility:

• N/A

External Contacts:

• External Auditors
• JV Finance personnel – Subcom/Budget re-alignment

Job Specification:

Essential Requirements:

• A university degree
• Good knowledge of risk management, internal control processes and auditing procedures
• A qualified Chartered accountant with a combined 4 to 6 years’ post qualification experience in audit and risk management, covering;
• Experience in accounting and Financial Reporting (IFRS)
• Understanding of Sarbanes Oxley/C-Sox/ Internal Controls Over Financial Reporting requirements(ICFR)
• Good knowledge of the regulatory environment
• Audit and assurance experience

Key Skills:

• Good communication skills
• Good report writing skills
• Good problem identification
• Good analytical skills
• Good organization skills to effectively meet deadlines
• Ability to interface with internal and external partners to carry out duties and achieve goals as assigned
• Good knowledge and understanding of oil and gas industry
• Good knowledge of financial reporting standards
• Ability to interpret financial statements
• Self-starter with ability to work independently and in teams
• Ability to perform risk assessments and identify key business and financial risks
• Experience in conducting financial audits and SOX compliance audits of public and/or private companies
• Proficiency in presentation, spreadsheet word processing and Risk Management Reporting systems.
• Possess a sound knowledge of internal business processes
• Good understanding of corporate governance
• A good team player.

Scope of Responsibility & Accountability:

Enterprise Risk Management

Under the direct supervision of the ERM&C Manager;

• Provide inputs and participate in the development of annual risk plan and scheduled control reviews
• Support the ERM&C Manager in management and coordination of all risk management and control related activities.
• Execute approved risk programs and report  findings for the ERM&C Manager’s review
• Provide monthly and quarterly risk reports for ERM &C Manager review
• Perform risk identification activities, document, assess/evaluate, and monitor risk inherent in existing activities,
• Review key risk indicators and trends.
• Periodically assess the operating effectiveness of  business continuity and crisis management plans in place
• Provide input to the tracking and reporting of emerging risks and events (enterprise wide and project specific),
• Maintain enterprise risk registers and project specific risk registers updating when necessary
• 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
• Liaise with department heads on the adequacy of proposed actions in management of risk areas highlighted in risk and internal audit reports
• Follow up with process owners and function managers on implementation of action plans to ensure risk mitigation efforts are proceeding as required.
• Monitor and report on compliance with regulatory requirements

Internal Control

• Work with the Business Managers (outside Finance) to review existing processes with a view to updating with ‘as is’ changes noted.
• Perform ICFR/ controls testing quarterly for design and operating effectiveness of controls embedded within the processes.
• Oversee quarterly remediation of all key control lapses noted from the ICFR reviews. Follow up with process owners to ensure all control remediation actions ( ICFR and External auditor’s noted control gaps) are implemented across the organization.
• Execute scheduled control reviews with a view to provide assurance on adequacy of systems and controls and document report findings to ERM&C Manager for review
• Execute the documentation of operational processes (using narratives and process maps), maintain a register of these processes, track all process changes and re- engineer 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 savings opportunities
• Work with internal audit, Governance/compliance functions in the company, as well as the company’s external auditors, particularly with respect to audit planning and knowledge sharing
• Work with staff to ensure enforcement of policies and procedures and compliance with the regulatory requirements.
• Assess and monitor all access rights for all staff.
• Perform review of segregation of duties at both the Oracle user and role level and report findings to ERM&C Manager controls

Key Performance Indicators:

• Quality of documentation and work papers
• Quality and timeliness of reports and updates
• Percentage completion of assigned tasks and risk planned activities
• Timeliness of remediation of external auditor’s reported control issues

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Purpose:

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

• 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.

The Incumbent monitors the achievement of corporate goals including avoidance of losses as a result of unwanted risk events. He/She has the responsibility for;

• 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
• Execute, review and monitor all Internal Control over Financial reporting activities within the Group
• Managing and supervising departmental staff, consultants and reviewing their work in detail.

Supervisory Responsibility:

(Number of Direct / Indirect Reports / External Contacts)

• Enterprise Risk Management & Control Supervisor
• Enterprise Risk Management & Control Officer
• Outsourced Risk analyst

External Contacts

• Non – executive directors and members of the Risk Committee
• External Auditors
• JV FINCOM and TECOM Representatives, JV Personnel on risks affecting JV

Job Specification:

Essential Requirements:

• A university degree
• Good knowledge of risk management, internal control processes, auditing and assurance procedures
• Certification in Accounting (ACCA, ICAN)
• Combined 12 years’ post qualification experience in audit and risk management, which should entail
• Experience in accounting and Financial Reporting (IFRS)
• Understanding and experience in Internal Control over financial reporting requirements
• Good knowledge of the regulatory environment and developments

Key Skills:

• Good grasp of business risks and controls and a deep understanding of how risks impact the bottom line, enhancing credibility within the business
• Good communication (verbal and written), listening, presentation and facilitation skills.
• Good knowledge and understanding of oil and gas, renewables and mining industry dynamics.
• Good and functional knowledge of financial reporting standards
• Good auditing and probing skills
• Good 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
• Good interpersonal and relationship-management skills
• Ethical character
• 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 Risk Management System

Scope of Responsibility & Accountability:

Enterprise Risk Management

• Support the Head RM&C 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 I line with Head ERM&C directives 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 for Head Enterprise Risk Management and Control’s review enumerating the key tasks and activities of the unit
• Coordinate risk identification, risk assessments, evaluations and all other risk management activities (Enterprise, project and financing deal specific)
• Prepare and review management and Board committee reporting documents summarizing project risk analyses and significant reporting matters
• Coordinate and analyze financial and operating data for input in Quarterly Board risk reports
• 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
• Performs monthly updates and reviews of all risk registers for accuracy and completeness
• Evaluate and provide reasonable assurance to the Head Enterprise Risk Management and Controls 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
• 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 in working with the Board Audit and Risk committee in ensuring the identification and prioritization of risks and quarterly reporting of same
• 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

Internal Control

• 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
• 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
• Review and report on remediation status of control deficiencies identified by the annual external audit and assist process owners in remediating and redesigning controls if necessary. Prepare bi -annual board reports on same.
• 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.

Key Performance Indicators:

• Percentage completion of scheduled risk activities.
• Quality and completeness of risk registers (enterprise 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