Internal Control/ Enterprise Risk Management Officer
Description
A Financial Services Industry client is seeking an Internal Control/ERM Officer. This role requires an individual with experience in supporting the implementation of the Company's Enterprise Risk Management Framework, Risk Appetite Framework, etc. The officer will ensure prompt identification, assessment, treatment, monitoring, and reporting of risks across the Company. The individual will also ensure the adequacy and effectiveness of all risk mitigation plans for core risks listed in the Company's risk register. Additionally, the officer will be responsible for the implementation of the Business Continuity Plan (BCP) and monitoring the implementation of approved placement limits and limits contained in the Risk Appetite.
Responsibilities
Efficient Risk Management
Provide support in the implementation of the Company’s Enterprise Risk Management Framework, Risk Appetite Framework etc.
Reviewing the above and other relevant Frameworks as at when required and developing new risk frameworks to address emerging risk issues.
Engagement of various stakeholders to set and communicate appropriate risk appetites/ tolerances.
Provide risk advisory services to various departments in the effective management of risks arising from the Company's policies, activities and initiatives.
Monitoring of appropriate risk indicators and triggers for the Company
Participates in the identification, assessment, treatment, monitoring and reporting of risks across the Company.
Set risk exposure limits in collaboration with relevant stakeholders.
Participation in the periodic review of the Company’s Investment Policy, Assets and Liability Management Policy (ALM) in collaboration with relevant stakeholders
Conducts periodic (quarterly and semi-annually) stress test on various risk metrics and indicator and recommend appropriate measures to mitigate the observed vulnerabilities.
Oversees the management and reporting of risk events on the Company’s counterparties.
Preparation of MCRC and ALCO reports.
Ensure that agreed resolutions from the MRC and ALCO meetings are implemented.
Provide support in Developing risk models.
Monitor the media for negative mentions of the Company.
Operational risk assessment and capacity building
Identification and independent monitoring of enterprise-wide view of known and emerging risks in the
Company.
Work with risk owners and all stakeholders in the development and update of the risk register
Work with departments in developing Control Risk Self-Assessment (CRSA) and development Key Risk
Indicators (KRIs) for all departments and monitoring of the set KRIs.
Implementation of Business Continuity Plan (BCP); including coordinate the regular BCP test and follow-up on
the remediation of the observed gaps.
Work with relevant stakeholders in the implementation of the ISO certification.
Analysis of incidence reports and proposing mitigants for the identified risks
Market and Liquidity risk management
Identification, measurement, analysis, monitoring and reporting of market, and liquidity risk exposures of the Company.
Support the secretariat to ALCO and MCRC.
Monitor compliance with counterparty placement limits.
Render regulatory returns to the CBN.
Financial Risk Management
Formulates and periodically reviews the asset liability management (ALM) policies, liquidity policies and guidelines for the Company.
Updates the Company’s Capital Management and Stress Testing framework.
Prepares monthly reports on currency and interest rate risks, as well as quarterly reports on financial projections, liquidity risk and debt allocation
Effective Internal Control
Review effectiveness of Internal policies and Standard Operating Procedures (SOP) management.
Review all internal policies and ensures the processes are well captured in the SOPs of departments and operationalised.
Identify deviations to internal policies and procedures promptly, escalate on a timely manner and follow up on remediation.
Call over processed transactions and validate for authenticity and authorization.
Prepare Bank reconciliation statement for all Banks on a monthly basis and follow-up on all outstanding issues.
Facilitate stock review and monitoring.
General ledger review including creation of users on the system.
Review of new ledgers created and closure of ledger that are no longer required.
Others
Monitor compliance with CBN regulation and other regulations relevant to the Company’s operations.
Requirements
Bachelor’s degree in Accounting, Banking & Finance, Economics, Business Administration or any social sciences related discipline.
Post graduate degree in a business-related field or management is an added advantage.
Membership of any recognized professional certification such as RIMAN, PRMIA, GARP, IRM or any related certification is an added advantage.
Minimum of 4 years of experience in Banking or Financial risk and Internal Control in a related field is required.
A Financial Services Industry client is seeking an Internal Control/ERM Officer. This role requires an individual with experience in supporting the implementation of the Company's Enterprise Risk Management Framework, Risk Appetite Framework, etc. The officer will ensure prompt identification, assessment, treatment, monitoring, and reporting of risks across the Company. The individual will also ensure the adequacy and effectiveness of all risk mitigation plans for core risks listed in the Company's risk register. Additionally, the officer will be responsible for the implementation of the Business Continuity Plan (BCP) and monitoring the implementation of approved placement limits and limits contained in the Risk Appetite.
Responsibilities
Efficient Risk Management
Provide support in the implementation of the Company’s Enterprise Risk Management Framework, Risk Appetite Framework etc.
Reviewing the above and other relevant Frameworks as at when required and developing new risk frameworks to address emerging risk issues.
Engagement of various stakeholders to set and communicate appropriate risk appetites/ tolerances.
Provide risk advisory services to various departments in the effective management of risks arising from the Company's policies, activities and initiatives.
Monitoring of appropriate risk indicators and triggers for the Company
Participates in the identification, assessment, treatment, monitoring and reporting of risks across the Company.
Set risk exposure limits in collaboration with relevant stakeholders.
Participation in the periodic review of the Company’s Investment Policy, Assets and Liability Management Policy (ALM) in collaboration with relevant stakeholders
Conducts periodic (quarterly and semi-annually) stress test on various risk metrics and indicator and recommend appropriate measures to mitigate the observed vulnerabilities.
Oversees the management and reporting of risk events on the Company’s counterparties.
Preparation of MCRC and ALCO reports.
Ensure that agreed resolutions from the MRC and ALCO meetings are implemented.
Provide support in Developing risk models.
Monitor the media for negative mentions of the Company.
Operational risk assessment and capacity building
Identification and independent monitoring of enterprise-wide view of known and emerging risks in the
Company.
Work with risk owners and all stakeholders in the development and update of the risk register
Work with departments in developing Control Risk Self-Assessment (CRSA) and development Key Risk
Indicators (KRIs) for all departments and monitoring of the set KRIs.
Implementation of Business Continuity Plan (BCP); including coordinate the regular BCP test and follow-up on
the remediation of the observed gaps.
Work with relevant stakeholders in the implementation of the ISO certification.
Analysis of incidence reports and proposing mitigants for the identified risks
Market and Liquidity risk management
Identification, measurement, analysis, monitoring and reporting of market, and liquidity risk exposures of the Company.
Support the secretariat to ALCO and MCRC.
Monitor compliance with counterparty placement limits.
Render regulatory returns to the CBN.
Financial Risk Management
Formulates and periodically reviews the asset liability management (ALM) policies, liquidity policies and guidelines for the Company.
Updates the Company’s Capital Management and Stress Testing framework.
Prepares monthly reports on currency and interest rate risks, as well as quarterly reports on financial projections, liquidity risk and debt allocation
Effective Internal Control
Review effectiveness of Internal policies and Standard Operating Procedures (SOP) management.
Review all internal policies and ensures the processes are well captured in the SOPs of departments and operationalised.
Identify deviations to internal policies and procedures promptly, escalate on a timely manner and follow up on remediation.
Call over processed transactions and validate for authenticity and authorization.
Prepare Bank reconciliation statement for all Banks on a monthly basis and follow-up on all outstanding issues.
Facilitate stock review and monitoring.
General ledger review including creation of users on the system.
Review of new ledgers created and closure of ledger that are no longer required.
Others
Monitor compliance with CBN regulation and other regulations relevant to the Company’s operations.
Requirements
Bachelor’s degree in Accounting, Banking & Finance, Economics, Business Administration or any social sciences related discipline.
Post graduate degree in a business-related field or management is an added advantage.
Membership of any recognized professional certification such as RIMAN, PRMIA, GARP, IRM or any related certification is an added advantage.
Minimum of 4 years of experience in Banking or Financial risk and Internal Control in a related field is required.
Similar jobs
Head, Enterprise Risk Management
...description fairmoney is a credit-led mobile bank for emerging markets. the company was launched in 2017, operates in nigeria & india, and raised...
Head, Risk Management
...description on behalf of our client, a credit guarantee company, we are seeking to recruit for the role of head, risk management. as one of the...
Head, Internal Control and Risk Management
...description our client in the oil and gas industry, is looking to recruit qualified candidates for the role of head, internal control and risk...
Business Risk Management – Merchant & Inclusion
...key responsibilities supports in driving the entrenchment of risk culture and enterprise risk management, strategy, and objective-setting...
Senior Internal Control Officer
...description the role works alongside the rest of the internal control team to increase the operational efficiency of our client, detecting and...