Enterprise Risk Management and Compliance Manager at Techno Oil Limited

Job Summary
The Enterprise Risk Management and Compliance Manager under the direct supervision of the GMD carries out the following key tasks towards the achievement of the overall departmental objectives:

• Identify and collate the organisation’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.

External Contacts:

• External Auditors
• JV Finance personnel – Subcom/Budget re-alignment
• Scope of Responsibility & Accountability

Enterprise Risk Management:

• Provide inputs and participate in the development of annual risk plan and scheduled control reviews
• Support the management and coordination of all risk management and control related activities.
• Execute approved risk programs and report findings for review
• Provide monthly and quarterly risk reports for 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 Audit reviews. Follow up with process owners to ensure all control remediation actions ( External auditor’s noted control gaps) are implemented across the organisation.
• Execute scheduled control reviews with a view to provide assurance on adequacy of systems and controls and document report findings 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 Management

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.

Essential Requirements

• A University Degree
• Good knowledge of risk management, internal control processes and auditing procedures
• A qualified Chartered accountant with a combined 4 – 6 years post-qualification experience in audit and risk management, covering;
  • Experience in accounting and Financial Reporting
  • Understanding of Sarbanes Oxley/C-Sox/ Internal Controls Over Financial Reporting requirements
  • 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.