Head Business Assurance

The Head of Operations Risk and Compliance will ensure business continuity at Stockgap by implementing control policies and operational guidelines to minimize potential risks and their impact on business performance. This role will also oversee the effective execution of Stockgap's Risk and Compliance framework and manage compliance policies, procedures, and all aspects related to regulatory compliance, issue management, governance, risk dealings, and audit preparedness.

Job Specifics

Enterprise Risk Evaluation and Strategy


Perform regular assessments of the group's compliance and risk management culture, submitting reports to the Executive Director.
Enhance and provide improved evaluation of risk management policies and procedures.
Offer guidance on policies and recommendations to address threats, decrease or transfer risks, and/or lessen the effects of unavoidable risks.
Evaluate and develop Key Risk Indicators (KRIs) for identified processes, products, and services, communicating them to business units and the group.
Deliver independent and objective assurance on risk management throughout the group.
Develop, design, and implement a robust risk management process for the group, ensuring a system is in place to identify and analyze all major risks regularly.
Assist business units by promoting risk awareness, developing risk profiles, mitigating risks, and effectively implementing agreed action plans.
Establish organization-wide Risk Appetite for various levels or specific business sections.


Risk Management


Collaborate with Departments to convey and implement the group's risk management, HSE, and compliance objectives and strategies.
Conduct periodic compliance reviews, safety audits, and statutory inspections of the group's activities to ensure adherence to existing policies and procedures, and monitor subsequent compliance with the action plan.
Monitor and assess operational risk through Heat Map analysis for Risk and Control Self-Assessment (RCSA), control self-assessments, and Key Risk Indicators (KRI).
Organize Operational Risk Management sessions with Heads of Business Units and Support groups to secure their buy-in.
Develop a Business Continuity Management framework for the group.
Review all contracts, MoUs, agreements, and documentation before the group commits itself and highlight legal implications that need management's attention.
Maintain contract compliance in line with group policies and procedures, ensuring issues are resolved and escalated when necessary.
Advise management on issues related to the group's corporate reputation and recommend appropriate courses of action.


Risk and Regulatory Compliance


Make recommendations and oversee the process of acquiring relevant regulatory certifications.
Interact with external regulatory bodies regarding issues resulting from such bodies and resolve them accordingly.
Identify regulatory and contractual requirements, organizational policies, and standards related to information systems to determine their potential impact on business objectives.
Manage litigations involving the group, drive and establish litigation strategies and practical legal solutions to disputes while upholding the group's legal position and reputation.
Spearhead the development of legal policies, processes, and procedures in accordance with Nigerian law and the group's strategic objectives.
Stay informed about relevant laws, regulations, and codes of good business practices and incorporate them into the internal risk framework.


Process Documentation


Supervise the process of documenting and updating existing business processes across the Group.
Conduct regular checks on the completeness and adequacy of business processes for all company operations.
Carry out regular training refreshers on business processes and embedded controls to support the achievement of a sustainable controls environment.


Process Efficiency and Improvements


Conduct regular process efficiency reviews to identify areas for improvement.
Propose recommendations for improving company-wide processes.


Revenue Protection/Operational Cost Control


Evaluate the performance of financial service providers regularly and take steps to discontinue high-risk relationships.
Prepare recommendations for cost reduction regularly and monitor the implementation of such recommendations.
Review projected and actual revenue/profit on significant transactions to ensure they are within allowed tolerances/variances.
Make recommendations to address non-tolerable variances.


Requirements


Minimum of a Bachelor's Degree (Second Class Upper Division)/HND Upper Credit in any Social Sciences, Humanities, or related disciplines.
Relevant professional certifications such as Certification in Risk Management Assurance (CRMA), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Certified in the Governance of Enterprise IT (CGEIT), IT Infrastructure Library (ITIL), Project Management Professional (PMP), Six Sigma Professional, Certified in Risks and Information Systems Control (CRISC), Certified Risk and Compliance Management Professional (CRCMP), or other relevant industry certifications.


A relevant postgraduate degree.


Minimum of 14 years of relevant experience in a similar role, with at least 5 years in a senior or managerial position.
Experience in financial services, specifically operations or audit.