- Determine the nature and extent of exposure to external, strategic and operational risks and appropriately manage the Group’s risk within its risk appetite.
- Pre appraise projects for viability and reasonableness.
- Ongoing liquidity and solvency monitoring and ensuring all borrowing covenants are adhered to.
- Formulate relevant policies to ensure effective management of risks across the Group.
- Identify principal risks, aggregate various risk exposures and maintain a comprehensive risk register for the Group. Identify actions to mitigate such risks.
- Identify reasonably foreseeable internal and external threats and any actions required
- Identify qualitative and quantifiable key risk indicators and evaluate, mitigate, monitor and report on key risk indicators regularly to CRO.
- Review, update and ensure adherence to the company’s risk appetite across the group
- Ensure direct delivery of strategic actions in line with risk appetite and parameters
- Report on current and emerging risks at individual business unit and project levels
- Implement risk mitigation plan developed at the corporate level
- Keep abreast of country legislative issues, new audit regulations/trends and audit methodology. Discuss updates of new regulations with Head of Audit and Risk and relevant country departments.
- Conduct periodic training workshops for in-country staff to promote awareness of governance, risk management, and internal controls.
- Risk Register
- Risk reports
- Policy documents
- Technical (90%)
- Administrative (10%)
- Regular and comprehensive risk reports (25%) Up-to-date risk register (25%)
- Number of implemented opportunities for improvement (OFI) vs. number of raised opportunities for improvement during internal and external audits (15%)
- Percentage of business services in the country not covered by risk analysis (10%)
- Savings generated and costs avoided associated with identified audit issues (5%)
- Overall corporate performance (10%)
- Feedback – The annual average rating from 360-degree surveys launched (10%).