Head of Assurance and Risk

Recruiter
Morson
Location
United Kingdom
Salary
£70000.00 - £80000.00 pa + 10% bonus + benefits
Posted
08 Oct 2017
Closes
07 Nov 2017
Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
Morson International is pleased to be offering this exciting opportunity on behalf of our client, Low Carbon Contracts Company (LCCC), who will play a key role in the delivery of Electricity Market Reform (EMR), the biggest change to the electricity market since privatisation. LCCC require a Head of Assurance and Risk based in Central London on a Permanent or for an Initial interim basis whilst looking to appoint to the permanant role. Background The Low Carbon Contracts Company (LCCC) and the Electricity Settlements Company (ESC) are at the heart of the delivery of the UK's goals for secure, affordable and sustainable electricity. These two private limited companies, wholly owned by the Secretary of State for Business, Energy and Industrial Strategy (BEIS), were created to deliver key elements of the government's Electricity Market Reform Programme. The biggest change to the electricity market since privatisation, the Government's Electricity Market Reform programme (EMR) is designed to attract the £110 billion investment needed this decade to replace the UK's ageing energy infrastructure with a more diverse and low-carbon energy mix. EMR will facilitate this vital investment through the introduction of two schemes: the "Contract for Difference" (or "CFD"); and the "Capacity Market". The Role: The purpose of this role is to manage the assurance and risk management framework covering LCCC and ESC, support the Audit and Risk Committee, and manage/maintain the risk management and control framework. The role will be responsible for co-ordinating, managing and sourcing assurance activities across the two companies in consultation with the business, as well as providing hands on risk management support to the businesses. This role has dual reporting lines to the CFO and Chair of the Audit Committee. This role is an ideal opportunity for an individual who currently has experience at a senior level in an assurance / risk management function who is looking to take the next step up to a role where they will head up a risk and assurance function and interface directly with an Audit and Risk committee. The size and volume of payments manged by the LCCC & LCCC necessitate a significant investment in governance and a robust risk management and controls framework. As well as complying with the UK Corporate Governance Code, the company is also required to adhere to government requirements relating to managing public money. This role is crucial in ensuring that the company meets the relevant regulatory requirements and effectively manages its significant risks. Key accountabilities: The key accountabilities of the role are outlined below. However, this is an overview of the role and is not exhaustive. LCCC reserves the right to assign other duties commensurate with the role as required. Key accountabilities: - Manage available resources to ensure assurance activity is sufficient to deliver all internal assurances and risk management requirements. - Owns and maintains the organisation's strategic risk register, manging the process by which business risks are identified, assessed, prioritised and mitigated. - Supports the review of the organisation's risk profile periodically and capture outcomes via the relevant team and project Risk Registers, Issues Logs and RACI's (Responsibility, Accountability, Communication, Information), including identifying any mitigating actions. - Reviews and assesses the current and planned approach to controlling identified risks and regularly reporting to the high profile Board and the Audit and Risk committee on the status of the risk management programme. - Ensure maintenance and improvement of the company's internal control framework, conducting control testing activity, and reporting to the audit committee on the design and operational effectiveness of key controls. - Ensure the alignment of the risk and controls strategy to the overall organisational strategy. - Assesses the ethical culture of the organisation as well as its association with other significant partners. - Embeds risk considerations into the organisation's strategic decision-making. - Ultimately responsible for ensuring the risk and controls framework is implemented and supports business efficiency improvement. Skills/Experience required for this role: - Proven experience leading an assurance and/or risk management team/function - Experience in developing and implementing internal audit and risk management policies and procedures - Experience managing engagements with third party / outsourced assurance providers - Knowledge of the UK Electricity Market and how it operates - Strong analytical and decision making skills - Excellent written and verbal communication - Knowledge of the UK Corporate Governance Code - Experience of interacting with senior management is a must, and at audit committee / board level advantageous Person specification: - Qualified accountant or comparable risk management qualification who is in a similar senior role in their current organisation - Experience leading an internal assurance and risk team - Experience of similar business environment - The ideal candidate with have a mixture of commercial sector experience and knowledge/experience of public sector
This job was originally posted as www.jobsite.co.uk/job/959283457