To support the business in applying risk management processes and techniques with the aim of increasing awareness, ownership and management of risks leading to improved business performance. The Risk Champion is the energizer / catalyst for risk management activities and is a critical role in implementing the effective management of risk.
The role will require the successful applicant to undertake the following duties: -
- Create the risk management plan for capital project/ business team based upon a company standard approach if available or on best practice international standards (e.g., ISO 31000). (nb The risk management plan is the document which details how risk is to be managed for this project/ business etc)
- Facilitate the identification of risks through risk workshops, brainstorming sessions, interviews etc, using standard/ company approved risk tools where applicable
- Ensure that the scoring techniques used by the team are consistently and accurately applied and align with any corporate requirements. The scoring techniques should provide a means of ranking the risks to maintain the focus on delivering Safe and Reliable Operations and the key drivers of business value.
- Ensure that each risk is assessed quantitatively where appropriate and possible using quantification techniques. This may require liaison / input from various risk experts with the functions e.g. commercial, facilities, cost and schedule etc.
- Take part in any specific functional risk analysis reviews to ensure risks are understood and reflected in all risk analysis (e.g. cost & schedule, technical / integrity mgt risk). Seek to integrate, where possible, the results of the various analysis work to generate a holistic picture of the impact on business objectives and value.
- To be familiar with risk tools required to support the team (e.g. risk register) and also the analysis tools that support both project and specific functional risk analysis. Where applicable be able to revise such analysis work on a routine basis
- Assist in the development of risk responses (threat mitigation and opportunity realization) and associated actions and contingency plans. Coach leadership on alternative risk management strategies.
- Provide support as required to risk and action owners to help them routinely and accurately report progress for the risk response plans and to complete their actions in a timely manner.
- To assist the team in interpreting and using risk based information in decision making.
- Provide an independent and objective view of the risks to ensure that they receive the appropriate degree of prominence and management attention within the business.
- Maintain the completeness and accuracy of the data in the risk register and to generate the routine risk reporting as specified within the risk management plan.
- Coach leadership and team members in the risk management process to include tools and processes to be used and the process by which risks are escalated and endorsed at the appropriate organizational level.
- To champion the process of risk management within the team / organization, building commitment to and energy for the risk management process.
- To network with other risk professionals eg risk champions to share good practice and in particular to look for systemic risks common to more than one project/ business to seek and share potential common solutions.
- Liaise with the whole supply chain to ensure that risks perceived by suppliers (vendors, contractors etc) are effectively communicated throughout the client team and that suppliers have systems in place to manage their risks to meet overall project objectives.
- To contribute to the continuous improvement of risk management within the company and its supply chain.
A Risk Champion should understand
- Key concepts relating to risk (threat & opportunity) and uncertainty
- Best practice risk process, handling both threats and opportunities
- How to recognize risk within the project/ business, understanding cause and effect and exposing both opportunities and threats
- The requirements for a proactive approach to identifying and assessing risk exposure, addressing both opportunity and threat.
- Workshop facilitation skills
- When to use semi- quantitative (eg probability Impact matrices) and quantitative (eg Monte Carlo analysis) approaches and how to apply proven techniques for prioritizing risks.
- How to develop appropriate response strategies to risks
- How to ensure effective management of uncertainty and maximize the likelihood of achieving your project/ business objectives
- How to manage risk attitudes (including persuasion and influencing skills). This includes the ability to influence leaders as well as team members
- The critical success factors for effective risk management (particularly the culture barriers)
- The key risk tools available including alternative risk register software solutions (spreadsheets, web based tools, stochastic software etc), their pros and cons within different project / business environments. How this fits within an Enterprise Risk Management environment
The following requirements are desirable to improve effectiveness
- Degree or equivalent qualification
- Excellent interpersonal skills/ ability to work with a wide range of people
- Excellent verbal and written communication skills
- 5 years industry experience
- Accreditation with a relevant institution eg Institute for Risk Management