Head - Enterprise Risk Management
Location
Mumbai | India
Job description
Job Description
JOB PURPOSE Enterprise Risk Management is an independent support function in the organization reporting directly to CEO whose primary role is to establish, implement and sustain a robust framework of risk management and internal controls. The role is responsible for setting up necessary governance, policies and procedures as required in the areas of enterprise risk management taking into account company's strategy, goals, business plan and statutory requirements so that the enterprise level risks are identified, assessed, managed and monitored in a more effective and proactive manner and business objective are achieved. Further the role shall also drive CEO key risk management and governance related projects/initiatives to strengthen the risk mitigation and control environment of the organization. The role reports to SVP Strategy & Risk and Head of CEO office.
Accountabilities & Responsibilities ACCOUNTABILITIES ACTIVITIES Enterprise Risk Management 1 Risk Function enablers:
- Head, establish and implement necessary policies/procedures/framework/technology for the risk management function.
2
Risk Awareness:
- Develop, implement and roll out ERM trainings for all company employees
- Identify risk champion from each BU/FU and train them on Risk Management framework and methodology
3
Risk Management policy, methodology and procedures:
- Define Risk Management policy, methodology and update as and when required.
- Define Risk Appetite Statement and Risk Assessment Criteria to facilitate risk rating and identification of risks breaching the appetite
- Lead and Assist the BUs/FUs to:
- Defining their risk tolerance limits.
- Develop, document & Update Risk Registers.
- To rate their risks in accordance the rating criteria.
- To document their contingency/escalation procedures.
- In conducting periodic risk self-assessments and identifying risk responses and documenting further mitigation actions required.
- Identify the Top risks for the organisation basis the risk appetite/tolerance as per the defined procedures.
- Institute a process of periodic review to update risks, mitigation plans and their implementation.
- Assistance in steering/handling/guiding a special risk task force, if created for risk mitigation and monitoring of business critical risks
6 Risk Reporting & Insights:
- Facilitate and 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, Risk Committee, Audit Committee and Board.
- Reporting of Risk Appetite Dashboard on periodic basis
- Assist in escalation as per defined protocols for escalation.
- Facilitate Business risk presentations and supporting in presentations to Risk/Audit committee of the Board of Directors
CEO driven Governance & Controls 1 Internal Control Framework
- Assist CEO and SVP Strategy & Risk and Head of CEO office to develop and strengthen internal control framework (comprising of methodology, roles and responsibilities, approach) providing foundation for implementation & evaluation of internal controls in the company
- Monitoring of controls – operational and financial incidents/frauds as noticed or reported by BU/Functions and review of underlying process to strengthen the same
2 Policies/Procedures/SOPs
- Assist CEO and SVP Strategy & Risk and Head of CEO office in development of necessary policies/procedures/SOPs/guidelines/manuals as required for day to day operations of the company
- Ensuring that process risks are appropriately addressed in policies/procedures and necessary controls are present
3 Special Projects
- Driving other special projects around organisation, process and technology changes on the request of CEO and SVP Strategy & Risk and Head of CEO office to strengthen the overall control environment. Further handling strategic projects around BU spin off, segment reporting & others impacting ERM, Governance and corporate strategy
Skills & Knowledge Educational Qualifications & Certifications: CA/MBA from tier 1 institute
Relevant (Functional/Level) & Total Years of Experience: - Minimum 15 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 3 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 & conceptual thinking
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