1. Risk Management:
- Develop and implement a robust risk management framework that identifies, assesses, and mitigates financial, operational, strategic, and reputational risks.
- Conduct regular risk assessments and scenario analyses to evaluate the organization’s risk exposure.
- Develop risk mitigation strategies and ensure their integration into business operations.
- Monitor emerging risks and trends and adjust risk management strategies accordingly.
2. Internal Audit:
- Oversee the internal audit function, ensuring the effectiveness of audit processes and adherence to internal controls.
- Develop and implement an annual audit plan based on risk assessments and organizational priorities.
- Review audit findings and provide recommendations for corrective actions.
- Ensure that all audits are conducted in compliance with applicable laws, regulations, and industry standards.
- Report audit findings and recommendations to the executive team and the Board of Directors.
3. Fraud Prevention and Detection:
- Develop and implement strategies to prevent, detect, and respond to fraudulent activities.
- Oversee investigations into suspected fraud cases and coordinate with legal and law enforcement authorities as necessary.
- Implement fraud detection tools and technologies to enhance the organization’s ability to identify and respond to fraud risks.
- Educate employees on fraud awareness and prevention through training and communication initiatives.
4. Compliance and Regulatory Oversight:
- Ensure compliance with all relevant laws, regulations, and industry standards related to risk, audit, and fraud.
- Liaise with regulatory authorities and ensure timely and accurate reporting of compliance-related matters.
- Develop and maintain policies and procedures that support compliance and risk management initiatives.
- Monitor changes in the regulatory environment and assess their impact on the organization’s risk and audit processes.
5. Revenue Assurance & Quality
- Develop revenue assurance frameworks to identify and mitigate risks related to revenue leakage, billing discrepancies, and financial misreporting.
- Implement revenue monitoring systems and analytics tools to track revenue performance, detect anomalies, and ensure revenue optimization.
- Conduct pricing, contract, and transactional audits to verify revenue accuracy and prevent potential financial losses.
6. Reporting and Communication:
- Prepare and present regular reports on risk, audit, and fraud activities to the executive team and the Board of Directors.
- Communicate key risk issues and audit findings to senior management, providing clear and actionable recommendations.
- Ensure timely and accurate documentation of all risk, audit, and fraud-related activities.
7. Leadership and Team Management:
- Ensure ongoing professional development and training for team members.
- Allocate resources effectively to meet departmental and organizational goals.
- Lead and mentor the risk management, internal audit, and fraud prevention teams, fostering a culture of high performance and continuous improvement.
8. Strategic Planning:
- Contribute to the organization’s strategic planning process by providing insights and recommendations related to risk, audit, and fraud.
- Align risk management, audit, and fraud prevention strategies with the organization’s overall business objectives.
- Support the organization’s long-term growth by ensuring a proactive approach to risk management and fraud prevention.
9. Stakeholder Engagement:
- Engage with internal and external stakeholders, including regulators, auditors, and industry peers, to ensure alignment on risk, audit, and fraud matters.
- Represent the organization in industry forums, regulatory discussions, and conferences.
Qualifications, Experience & Skills
- Education:
- Master’s degree in Finance, Risk, Accounting, Business Administration, or a related field.
- Professional certifications such as Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), or Certified Risk Manager (CRM) are highly desirable.
- Experience:
- Minimum of 10 years of experience in risk management, internal audit, or fraud prevention, with at least 5 years in a leadership role.
- Proven track record in developing and implementing risk management and audit strategies in a corporate environment.
- Experience working with regulatory bodies and managing compliance programs.
- Skills & Competencies
- Strong knowledge of risk management, internal audit, and fraud prevention practices.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong leadership and team management abilities.
Closing date: February 27, 2025