Job Description
1. JOB PURPOSE
Enterprise wide Risk Management is an independent support function whose primary role is to establish, implement and sustain an appropriate Risk Management policy, framework, system and procedures within the Company to identify, assess, manage and report Enterprise risks, to the extent possible, and enhance its internal control systems. The role will report to the Chief Governance and Control Officer.
2. ORGANISATIONAL CHART
3 ACCOUNTABILITIES & RESPONSIBILITIES
ACCOUNTABILITIES ACTIVITIES
3 Risk Function enablers: - Lead, establish and implement a technology platform for the function.
4
Risk Awareness: - Identify risk champion from each BU/FU and train them on Risk Management framework and deliverables
5
Risk Management Procedures:
- Define Risk Management procedures in line with the approved Policy, update procedures as and when required.
- Lead and Assist the BUs/FUs to:
a. Develop & document Risk & Control repository (RACM).
b. Defining their risk appetite statement and risk tolerance limits.
c. To rate their risks in accordance the rating criteria.
d. To document their contingency/escalation procedures.
e. In conducting periodic risk self-assessments and identifying risk responses and documenting further mitigation actions required.
f. Identify the Top risks for the organisation basis the risk appetite/tolerance as per the defined procedures.
g. Institute a process of periodic review to update risks, mitigation plans and their implementation.
- Perform assessment of control effectiveness for select key risks as per defined procedures.
6 Risk Reporting & Insights: - Review implementation of risk mitigation measures along with the business and assist the BU/FU in consistent communication of top risk related issues and mitigation plans to the senior management, Audit Committee and Board.
- Assist in escalation as per defined protocols for escalation.
- Facilitate Business risk presentations.
3. KEY CHALLENGES
Lead development and maintenance of the overall Enterprise wide Risk Management and the system of internal controls, that meet requirements of the Company without compromising business growth and operational efficiency, and maximizing the Company value.
4. KEY DECISIONS
A. Made by Jobholder:
• Lead Risk Management implementation related decisions – risk and control methodology, repository, risk registers, tool enablers, reporting & escalation construct, etc.
• ERM awareness mechanisms – implementation of tools & trainings
B. Recommendations to superior:
• Assistance in identification and assessment of risks, residual risks, adequacy of mitigation plans, etc.
• Assistance in inputs for Audit Committee and Board meetings on top risks
5. INTERACTIONS
A. Internal Interactions:
Interaction with Governance and Control team, and all departments and businesses/ functions of client, the Management Committee and Board of Directors.
B. External Interactions: (Outside)
Representative of shareholders teams, external consultants
6. DIMENSIONS
A. Financial Dimensions:
B. Team Size:
To be finalised
7. SKILLS & KNOWLEDGE
A. Educational Qualifications & Certifications:
MBA/Engineer
Relevant (Functional/Level) & Total Years of Experience:
• Minimum 12 years of post - qualification experience
• Not less than 10 years working experience in risk advisory, internal control, ext./internal audit or management consulting in Big 4 or similar
• Not less than 5 years of experience in downstream oil & gas refinery/trading/marketing business
Functional Skills and experience:
• Sound knowledge of downstream oil & gas operations and economics (refining, trading, marketing)
• Professional knowledge and proven experience in risk management, financial and operational control with exposure to international business operations
• Professional knowledge of best practices of risk management and internal control (COSO frameworks, etc.) and proven experience in practical implementation of the same
• Track record of delivering enhancements to process efficiency
• Ability to produce and present effective presentations and training sessions.
Behavioural Skills:
• Strong Leadership and Communication Skills
• People management skills - ability to work with different teams and draw upon their resources and lead them to a common goal
• Strong analytical and conceptual thinking