Head of Risk Department HSSE, Risk & Compliance

Position Objective / Purpose

Reporting to the Snr. Vice President - HSSE, Risk & Compliance, the position’s primary objective is to develop, deploy, and manage regulatory compliance Governance, Risk and Compliance (GRC) mission, vision, and program elements in accordance with enterprise policy requirements and management expectations.  Responsibilities include strategic planning and administration of the multi-year regulatory compliance GRC roadmap, including related practices and technologies that enable the Company to holistically understand, manage, and report compliance risks efficiently and effectively, while leveraging compliance risk assessments, testing, control mapping and validation, regulation change management, and issues management practices.  Accordingly, this role includes the day-to-day management of an overall strategy for the GRC Regulatory Compliance Module to effectively meet company-wide goals, objectives, and mandates.  The Head of Risk will also support management reporting needs.

 

Key Role Objective(s):

To develop an independent, effective, proactive firm-wide risk management & compliance framework.

To manage firm-wide Operational, Financial and commercial risks; ensure that all transactions are following internal and external regulations.

 

Executive Summary

The role of the Head of Risk primarily is to lead, manage and direct the overall Risk Management and Compliance Function of the company .

Key Responsibilities/ACCOUNTABILITIES

 

Strategic:

Develop and implement an enterprise wide ‘Risk Management Framework’

Lead the development and implementation of various analytical risk management models, to identify, measure and control financial risks, operational risks, market risks and commercial risks.

Develop and implement an enterprise wide ‘Risk Management Framework’ for the company  including appropriate risk policies and procedures to manage the risk profile of the company  at the macro/ micro levels; Ensure that these are in line with the business strategy and vision set by the Board, Chairman and CEO.

Develop Risk Assessment and Mitigation policies, processes and procedures for all areas of business – Operational, Financial and Commercial, across the entire value chain of the businesses.

 

Operational:

Develop and maintain standardized documentation for all risk assumptions undertaken

Lead the development and implementation of various analytical risk management models, to identify, measure and control operational risks.

Monitor adherence to Risk Management procedures by line functions and advise them on risk related matters involving operational risk, Financial risks, Commercial Risks, market risk and management risk.

Identify, measure and analyse risk using risk measurement tools from several perspectives, such as operational risk, Financial risks, Commercial Risks, market risk and management risk.

Effectively liaise with key business partners in all divisions and regions to drive key regulatory compliance decisions and outcomes

Escalate and/or assist in resolving any risk related issues in co-operation with senior management.

Develop and improve risk management processes, tools and methods

Ensure adherence to all regulatory guidelines related to Risk Management & Compliance where applicable

Ensure daily risk management of all major transactions focusing on understanding market risk environment

Carry out risk management related projects, working closely with operational professionals

Set and monitor risk limits and risk appetite (in consultation with top management) and act, if necessary

Prepare regular risk reports, including risk analysis of exposures/positions

Develop and maintain standardized documentation for all risk assumptions undertaken

Analyse the risk profile of the company  on an ongoing basis to identify and measure major risk segments

Report and advise senior management of deficiencies in implementation of Risk Management policies and procedures

Manage international compliance requirements

Manage conformance to Anti-Money Laundering (AML) and Countering Terrorist F Perform other tasks as assigned to support the function including (but not limited to) self-risk assessments, scenario analysis, reviews, quality checks, etc.

Key PERFORMANCE INDICATORS/AREAS

 

Essential Qualifications, Skills & Competencies

 

BS or BA degree with prior management experience required; advanced degrees Economics and / or Finance or related discipline favourably.  Master’s degree preferred

10 to 15 years of compliance and/or risk management (Operational Risk, Compliance, or Audit) related experience within the Oil and Gas industry.

A good technical acumen is necessary.

Advanced knowledge of excel preferred.

Strong regulatory risk and compliance management foundation, with minimum of seven years of experience working within a regulated financial institution, consultancy, or regulatory agency; prefer direct experience working with, developing, implementing, and managing GRC technologies and strategies.

High level of attention to detail and documentation requirements.  Strong interpersonal skills and the ability to work collaboratively with various business partners and stakeholders. Able to communicate effectively both orally and in writing; good presentation, analytical, project management and consulting skills.

Demonstrated leadership capabilities, with solid interpersonal skills and the ability to work collaboratively across all organizational tiers.

Demonstrated ability to manage workloads and prioritize deliverables, ability to be flexible

Ability to take initiative and execute ideas

Ability to promote cooperation and good working relationships among team members.

Ability to conduct and participate in meeting with all levels of staffing

Professional designations (CRCM, CAMS, CIA or other compliance or Audit certifications) a plus.