Risk Officer

Risk Officer

 JOB DESCRIPTION

Job Title:                 Risk Officer

Post Number:          68857

Job Grade/Level:    GMG/SEG 1   

Department:           The Accountant General’s Department – A Department of the Ministry of Finance and the PublicService

The Corporate Services Division is responsible for providing essential services to the other divisions to support the successful execution of the core Treasury functions of the Department. This Division has responsibility for human resource policies, procedures, and advice to guide management and staff; and to facilitate organizational development which includes the review and re-design of business processes.  It is also responsible for capacity building including the hiring of staff and the facilitation of staff training and development for best fit, competence and high performance.  The Division is also responsible for effective employee and industrial relations, a comfortable work place and facilities, and occupational health and safety.  It facilitates the establishment of an accountability framework for the Department to include organizational risk analysis, strategic planning, and performance management; and provides customers and stakeholders with high quality information and service.  The Division manages the finances of the Department, which includes procurement management.

This division operates on the authority of the Financial Administration and Audit Act, the Public Service Regulations 1961, the Public Sector Staff Orders 2004, the Official Secrets Act, the Access to Information Act, the Corruption Prevention Act, and various other enactments.

Effective Enterprise Risk Management provides Senior Executive/management with reasonable assurance that they understand the extent to which the Department’s strategic and operations objectives are being achieved; that reporting is reliable; and applicable laws and regulations are being complied with. 

2.      JOB PURPOSE

Reporting to the Director Enterprise Risk Management, the Enterprise Risk Officer is responsible for identifying, evaluating, and analysing risks inherent to the operations of the Accountant General’s Department; and participating in formulating, implementing, administering, and evaluating risk management strategies to efficiently and cost-effectively manage those risks.  The incumbent supports management in ensuring that the Department is compliant with regulations, legislature, policies, procedures and standards.  The incumbent also participates in educating and advising management and staff on risk management strategies.

Summary of the broad purpose of the position in relation to Government’s goals and strategies:                      

• To participate in the development, implementation and monitoring of the Enterprise Risk Management (ERM) framework
• To execute ERM Framework to support the operations of the Treasury and its compliance with requirements and obligations
• To facilitate the ERM process and provide risk management delivery support
• To maintain the risk governance arrangements, including documentation and risk tolerance and appetite approach
• To maintain a risk management culture to support the implementation and effective operation of ERM
• To participate in the Business Continuity Management process to maintain full alignment with the ERM Framework and Risk Management process
• To participates in delivering training and mentoring programs for ERM

 3.      Key outputs

• Risk Management Culture maintained
• Business Continuity Management process is fully aligned with the ERM Framework and Risk Management process
• Management and staff trained/sensitized for ERM
• Compliance with Customer Service Charter, and excellent Customer and Stakeholder relations
• Enterprise Risk Analysis Reports

 4.      Key Responsibilities

Technical

• Performs the day-to-day activities of various risk management and assessment, and business continuity efforts in accordance with the Department’s needs and Enterprise Risk Management goals
• Provides support to build and maintain a sustainable process for identifying, assessing and responding to all organizational risks that might affect the achievement of the Department’s strategic objectives
• Facilitates, and participates in the ongoing identification and assessment of Enterprise Risks
• Collaborates closely with Division/Unit Heads (business owners) and project teams to assist in the development, assessment and monitoring of mitigation plans for Enterprise Risks to ensure risks are managed to an acceptable level
• Identifies, evaluates and escalates issues that conflict with the AGD’s risk tolerance
• Facilitates the identification and evaluation of process risks with business areas based on an assessment of the control environment
• Works with business areas to enhance controls or develop action plans to address risks
• Collaborates closely with business owners and project teams to assist in the development, assessment, and maintenance of the process level internal control environment and risk mitigation techniques
• Assists management in increasing awareness, building understanding, and becoming more effective and self-sufficient in managing risks, in describing their processes and risks, and how they are managing those risks
• Works with business areas and process owners to ensure that risk related documentation is clear and accurate including developing processes and procedures to assist them in maintaining documentation
• Consults on projects, business process redesigns, and other initiatives providing risk management expertise to ensure risks are considered and addressed appropriately
• Participates in the development, maintenance, and improvement of risk management policies, methodologies, tools, templates, internal websites and internal and/or external reports
• Participates in the development and maintenance of the risk management framework, templates, and structure
  • Monitors external indicators and market developments for the ongoing identification and treatment of emerging financial risks
  • Performs research, conducts interviews, and publishes articles to be shared with staff, managers, and executives across the company
  • Works with management to develop and implement policies to provide a framework to ensure that appropriate business continuity and disaster recovery plans are in place for all key business processes
  • Develops and provides formal and informal training and guidance to business owners to increase awareness about disaster recovery and business continuity
  • Leads discussions and other efforts to help all areas of management become increasingly self-sufficient in exercising, testing and implementing corporate crisis management, disaster recovery and business continuity policies and procedures.

Any Other Duties

• Any other related duty that may be assigned from time to time.

 5.      Key Performance Indicators

The job is successfully performed when:

• Policies and procedures are implemented and maintained to ensure risk responses are effectively carried out
• A Risk Management Culture is established and maintained
• Business Continuity Management process is fully aligned with the ERM Framework and Risk Management process and is being monitored
• Management and staff trained/sensitized for ERM
• ERM Framework facilitates compliance with financial regulations and standards
• ERM Framework facilitates compliance with Accounting and Audit standards including cash basis IPSAS
• ERM Reports including annual, quarterly, bi-annual and monthly reports are timely and comprehensive – with recommendations for appropriate risk response, and improvement of ERM framework

 6.      REQUIREMENTS for this Job:

a.      Qualification and Training

Essential:

• A Bachelor’s Degree from a recognized institution in Management Studies, OR Accounting, OR Finance, OR ACCA level 2; OR ASc. Degree– Accounting (MIND) along with the Diploma in Government Accounting (MIND); OR Equivalent

Desirable:

• Enterprise Risk Management accreditation or certification
• Project Management accreditation or certification

 b.      Experience and Knowledge:

Essential:

• At least  4 years  post qualification experience in Enterprise Risk Management or Internal Auditing preferably in an Accounting and/or Finance environment with at least 2 years in the public sector
• Background in Compliance
• Working knowledge of Accounting practices and applications
• Knowledge of international Public Sector Accounting Standards (IPSAS)
• Knowledge of Government Accounting
• Sound knowledge of, and experience in Strategic Planning
• Excellent PC skills (e.g. Microsoft Word, Excel, PowerPoint, Access, and Project).

Desirable:

• Knowledge of public treasury operations
• Knowledge of banking operations
• Background in Enterprise Risk policy, governance and processes
• Understanding of Operational Risk management and Operational Risk frameworks

 c.       Competencies

The incumbent is expected to participate in realizing the goals and objectives of the Department, in a highly dynamic environment.  The following competencies are required for the effective performance of this job:

• Strategic Planning:  The ability to develop effective plans in keeping with the Department’s objectives, including to effectively review policy issues, determine priorities, and set medium and long term goals.
• Strategic Vision: The ability to develop a clear vision of the desired future state of the Department, demonstrate awareness of and or anticipate changing environmental trends, industry opportunities and threats/risks.
• Performance Management: The ability to align resources, systems, standards and activities to effectively, efficiently and consistently meet the goals and strategic objectives of the Department are met in a consistent, effective and efficient manner. 
• Analytical Thinking, Decision Making, and Problem Solving: The capacity to analyze problems promptly, choose between alternatives, and effect meaningful solutions.
• Use of Technology: The ability to accept and implement information technology in work activities to enhance organisational performance.
• Managing the Client Interface :  Ability to work effectively with others, both internal and external to the Department, to deliver acceptable, customer-oriented and high quality service.
• Collaboration and Team Work:  The ability to be collaborative and an inspiring professional who shows a genuine intention to participate and work co-operatively with others in pursuit of team goals.
• Leadership and Team Building: The ability to provide vision, direction, allocate responsibilities, delegate and motivate staff in one’s team, to include leading by example.
• Customer and Quality Focus: The ability to continuously ensure high standards of quality and service delivery to meet customers’ expectations.
• Change Management:  The ability to maintain effectiveness in a changing environment and the willingness to respond quickly and positively to change, and to lead others through change and manage their concerns.
• Emotional Intelligence:  Possession of  self-awareness, self-management, social awareness, and social skills – The ability to display behaviors appropriate to the AGD’s business and social environment.
• Integrity:  The ability to consistently demonstrate sound ethical standards, observe the codes of conduct for employees and codes of professional practice, and show consistency between established values and behaviors, in order to build trust and credibility.
• Interpersonal skills:  The ability to display sensitivity towards others, interact collaboratively with colleagues, and to build long term internal and external relationships and gain support to achieve desired objectives.
• Oral and Written Communication:   The ability to communicate proficiently orally, in writing, and in one- on- ones face- to- face, with excellent public speaking skills. 
• Ability to work effectively under pressure.

 7.      SPECIAL CONDITIONS ASSOCIATED WITH THE JOB

Physical Demands - Pressured working conditions with numerous critical deadlines.

Work Environment - Normal office conditions