Under the general direction of the Deputy Financial Secretary, Corporate Planning and Administration, the Director, Enterprise Risk Management is responsible for establishing and managing the Ministry’s Enterprise Risk Management Framework. The Director will lead the investigation, analysis, assessment of risk, and the design and implementation of strategies and processes which mitigate threats to the successful delivery of the organisation's corporate and business plans, and desired outcomes.
The Director supports in ensuring the MOFPS is compliant with legislation, regulations, policies, procedures and standards. The incumbent also leads the process of educating and advising staff on risk management objectives.
Key Responsibility Areas Technical/Professional
- Establishes, implements and leads the Ministry’s enterprise risk management plan, policy and strategy.
- Facilitates the establishment of an effective enterprise-wide risk governance framework, including risk appetite, risk tolerance levels and limits.
- Advises on and challenges risk appetites statement(s); identifies changes in GOJ’s risk appetite(s) and ensure that the Ministry is aligned.
- Facilitates and coordinates the implementation of risk management processes in the MOFPS in managing its risk environment in a consistent manner across the functional areas and in keeping with GOJ’s policy.
- Coordinates and reports on the risk management strategy to the Financial Secretary and Deputy Financial Secretaries for decision making in order to ensure each is fulfilling their respective risk oversight responsibilities.
- Guides the development and implementation of a risk-based performance management framework to achieve the ultimate mission of the Ministry.
- Develops mechanisms to identify, assess and evaluate risk to enable the execution of the enterprise risk management strategy.
- Identifies legal, regulatory and contractual requirements and organizational policies and standards related to the Ministry’s operations to determine their potential impact on the business objectives;
- Assembles and analyses risk scenarios to determine the likelihood and impact of significant events to the Ministry’s business objectives.
- Correlates identified risk scenarios to relevant business processes to assist in identifying risk ownership.
- Validates risk appetite and tolerance with senior leadership and key stakeholders to ensure alignment.
- Identifies and evaluates risk response options and provides Executive Management with information to enable risk response decisions.
- Approves and leads the implementation of programmes designed to anticipate and to minimize threats to the Ministry.
- Evaluates, monitors and reports on divisional performance to improve the Ministry’s risk profile;
- Provides strategic advice and guidance on enterprise risk management.
- Develops and implements mechanisms to support the Executive Management team on embedding a risk management planning and risk-aware culture.
- Establishes and quantifies the Ministry’s risk appetite and ensure risk approach adheres accordingly.
- Identifies and detects potential threats to brand reputation, financial sustainability, operational efficiency, workforce investments and safety to fully develop a shared understanding for the Ministry’s risk exposure.
- Establishes and implements a Strategic and Operational Risk Register to record, rate, monitor and report risk.
- Champions the proper tone for managing risks and building a robust risk aware culture.
- Oversees and guides risk owners in the discussion and treatment of individual and aggregate risks.
- Oversees the conduct of regular risk assessments and preparation of all documentation related to risk assessment, and reviews of standard operating procedures ensuring that recommended improvements are fully implemented.
- Produces regular risk analysis reports to the Financial Secretary and Senior Executives, complete with actionable plans for avoidance or prevention of possible threats at all levels.
- Drives initiatives that support enhanced efficiency and effectiveness in all Risk processes.
- Reviews risk responses with the relevant stakeholders for validation of efficiency, effectiveness and economy.
- Collects and validates data that measure Key Risk Indicators (KRIs) to monitor and communicate their status to relevant stakeholders.
- Monitor and communicate Key Risk Indicators (KRIs) and management activities to assist relevant stakeholders in their decision-making process.
- Monitors the internal and external risk environment; identifies and flags risk trends as well as material individual, aggregate and emerging risks that may substantially impact strategy and objectives.
- Facilitates independent risk assessments and risk management process reviews to ensure they are performed efficiently and effectively.
- Identifies and reports on risk, including compliance, to initiate corrective action and meet business and regulatory requirements.
- Regularly review and assess the Risk Management Policy, Strategic and Operational Risk Registers to ensure regulatory compliance and effective risk management is maintained.
- Develops, implement and maintains insurance strategies and financing techniques to appropriately deal with any unanticipated losses.
- Keeps Senior Executives informed of regulatory, legislative and best practices changes and their obligations under these changes, as well as how they impact the Ministry.
- Builds awareness within each Division of business continuity and disaster recovery risks, including encouraging the preparation of business continuity and disaster recovery management plans.
- Works closely with key stakeholders to understand the business requirement for projects.
- Designs and delivers training and presentations at workshops, seminars and other meetings, to further an understanding of the basics of risk management.
- Guides the development and implementation of risk responses to ensure that risk factors and events are addressed in a cost-effective manner and in line with business objectives.
- Manages the development of the Section’s Corporate/Operational Plans, Budget and Individual Work Plans.
- Prepares adhoc, quarterly and annual reports to the Deputy Financial Secretary –Corporate Planning & Administration and other relevant stakeholders.
- Attends committee meetings and executes directives as necessary.
- Provides leadership and guidance through effective planning, delegation, communication, training, mentoring, coaching and discipline.
- Evaluates and monitors the performance of staff in the Section and implements appropriate strategies.
- Coordinates the development of individual work plans and recommends performance targets for the staff assigned.
- Participates in the recruitment and training of staff of the Section.
- Recommends training, promotion and approves leave in accordance with established Human Resource Policies and Procedures.
- Identifies skills/competencies gaps and contributes to the development and succession planning for the division to ensure adequate staff capacity.
- Monitors the performance of staff and facilitates the timely and accurate completion of the staff annual performance appraisals and other periodic reviews.
- Ensures the well-being of staff supervised.
- Effect disciplinary measures in keeping with established guidelines/practices.
- Maintains customer service principles, standards and measurements.
- Identifies and incorporates the interests and needs of customers in business process design.
- Ensures critical success factors are identified and meets expectations.
- Prepares quarterly and/or annually Customer Service reports in accordance with established standards.
- Performs all other duties and functions as may be required from time to time.
- Excellent interpersonal and team management skills
- Excellent communication skills
- Strong analytical and problem-solving skills
- Strong leadership skills
- Strong customer relations skills
- Excellent planning and organizing skills
- Excellent judgment and decision making skills
- Ability to influence and motivate others
- Proficiency in the use of relevant computer applications
- Sound understanding of enterprise risk management frameworks and tools
- Must be able to demonstrate a broad technical knowledge and expertise covering the conduct of business matters, corporate governance matters and regulatory risk and regulatory change matters
- Practical and commercial approach to problem-solving
- Sound understanding of Research Methodology
- Knowledge of the principles of public sector management
- Sound knowledge of Government policy formulation, monitoring and evaluation processes
- Ability to exercise sound judgment and conviction of purpose in unfavourable or unpopular situations
- Excellent capability to track policies/programmes/project benefits realisation and lessons learnt activities to feed into on-going improvements
- Ability to monitor and report on programme/project budgets
- Demonstrates sound personal and professional integrity, reflecting high ethical and moral values
- Advanced IT skills in relation to Word, PowerPoint, Excel and MS Project or other project tool
Minimum Required Education and Experience
- Master’s Degree in Management Studies, Public Administration, Business Administration or a related discipline;
- Specialized training in Risk Management;
- Four (4) years related experience, with at least two (2) years in a Risk Management role.
- Bachelor’s Degree in Management Studies, Public Administration, Business Administration or a related discipline;
- Specialized training in Risk Management;
- Six (6) years related experience, with at least three (3) years in a Risk Management role.
Special Conditions associated with the job
- Work will be conducted in an office outfitted with standard office equipment and specialized software. The environment is fast-paced with on-going interactions with critical stakeholders and meeting tight deadlines which will result in high degrees of pressure, on occasions. May be required to travel locally and overseas to attend conferences, seminars and meetings.
- Basic Salary: $3,032,763 – 3,605,002 per annum
- Any allowance(s) attached to the post
Suitably qualified persons are invited to forward a cover letter and résumé to:
Senior Director Human Resource Management & DevelopmentHuman Resource Management & Development BranchMinistry of Finance & the Public Service30 National Heroes CircleKingston 4Email: email@example.comNO LATER THANFriday, January 8, 2021
Please identify the job title of interest as the Subject Detailed information about the positions can be accessed on the Ministry’s website www.mof.gov.jm:
We thank all applicants for the interest expressed; however, only shortlisted candidates will be contacted.