Job Description
About the Company
Established in 1972, ADNOC Drilling was the first fully-owned subsidiary of the Abu Dhabi National Oil Company (ADNOC), and was set up with a mission to drill wells to enable ADNOC to unlock the UAE’s vast reserves of oil and gas for the benefit of the nation. The company acquired its first rig, AD-1, in 1973, which can be seen today outside ADNOC Group's modern headquarters on Abu Dhabi's Corniche. For almost 50 years, ADNOC Drilling has enabled the Abu Dhabi National Oil Company (ADNOC) to safely and efficiently unlock United Arab Emirates’ (UAE) oil and gas resources. ADNOC Drilling is key to delivering the targeted increase in crude oil production capacity by 25% to 5 million barrels per day by 2030 and achieve UAE gas self-sufficiency.
JOB PURPOSE:
Identify and analyze areas of potential risk which may threaten the assets, earning capacity or success of the Company, in compliance with ADNOC Drilling and ADNOC Group Risk Management policies and procedures. Coordinate and facilitate the Enterprise Risk Management function implementation in the organization and ensure all related activities are carried out. Document and develop risk register, conducts workshops and meetings with all division managers, review and ensure effective implementation of Enterprise Risk Management System.
KEY ACCOUNTABILITIES:
Job Specific Accountabilities
- Responsible for maintaining an effective Enterprise Risk Management (ERM) program.
- Supports the business units in re-assessing their risks, and reviews/updates business unit risk/control self-assessments and documentation required for ERM.
- Conducts operational risk management and re-insurance surveys, special risk analysis studies and monitoring compliance status of risk mitigation recommendations.
- Educates business units on risk management as appropriate.
- Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
- Designs or update internal policies to mitigate the risk of the company breaking laws and regulations, as well as lead internal audits of procedures.
- Works with Divisions/Units to ensure that the Business Compliance Program appropriately addresses the regulatory risks relative to the Division/Unit’s business activities.
- Collaborates with the Management team to foster an open and honest risk management and compliance culture across the Business Division/Unit and ensure timely reporting and escalation of regulatory risk issues to the Executive management.
- Promotes Corporate Risk Management Policy through training, seminars, office and site visits, simulation exercises and publications.
- Contributes to the evaluation of technical justifications for the implementation of Risk Improvement Recommendations.
- Works with the business units on the development of mitigation plans and follows up to determine if mitigation plans are progressing as needed.
- Tracks business unit risk assessments, mitigation plans and related ERM documentation in the ERM database, and compiles reports for Manager, Financial Systems and business unit management summarizing the status of control gaps and outstanding mitigation plans.
- Performs statistical analysis to identify and analyse areas of risk.
- Participates in special projects designed to manage/reduce risk levels.
- Participates in reviewing project risk management processes for large projects. Reviews/analyzes and tracks risk metrics.
- Works with the internal auditors on recommending risks to be tested and record testing results in the ERM database.
- Coordinates with Risk Committee or EMC and highlight all key issues that require steering from management.
- Develops and maintains effective and efficient workflow and ongoing operations, including ERM process modifications as needed; communicates changes to other process owners and/or those impacted.
- Identifies trends and sees that implementation of corrective action is complete as necessary; informs others.
- Performs other similar or related duties, as assigned, such as conducting studies in the field, carrying out site visits, preparing periodic status reports on risk management activities etc.
- Comply with all UAE, ADNOC, ADNOC Drilling and client Asset Integrity Management codes of practice.
QUALIFICATIONS, EXPERIENCE, KNOWLEDGE & SKILLS: Minimum Qualification
- Degree in Business Administration, Engineering or any equivalent risk management discipline.
- Associate of the Institute of Risk Management (AIRM) is an advantage.
Minimum Experience & Knowledge & Skills
- 8 years’ relevant Oil and Gas Industry experience in Risk Management.
- Fluency in spoken and written English.
- Must be computer literate and fully familiar with commercial software packages.
