Closing date: 17:00 GMT, 16 February 2022
Background to the assignment
With the ERM Policy and Framework in operation for over five years, there is a need for review to align both documents with the new and emerging developments surrounding governance and risk management. The review comes at a time when COSO ERM Integrated Framework of 2004 has been updated to the current version of 2017. Moreover, the intricacies of organizational governance are changing, hence new risks are emerging quicker than before. Changing customer behavior and organizational cultures are putting extensive influence on the volatile global economic landscape and the environment at large. As a result, the Policy and Framework review will be aligned to the current COSO ERM Framework, current ERM practices and global trends.
Scope of the project
In undertaking this assignment, the Consultant is expected to liaise closely with the Department of Internal Audit, Ministry of Finance and Economic Development. The consultant will be closely and directly supervised throughout the assignment by the Adviser Public Financial Management of the Commonwealth Secretariat in facilitating a smooth flow of the assignment.
The Consultant is expected to perform the following tasks:
- Review Current Available Information on Enterprise Risk Management and engage the Department of Internal Audit and key government officials regarding possible reviews necessitated by the current COSO ERM Framework.
- Examine existing national financial management laws and policies regarding their adequacy in supporting the Enterprise Risk Management implementation and advise appropriately.
- Integrate appropriate structures including Risk Committees in the revised Policy and Framework to facilitate the smooth implementation and operations of the ERM.
- Facilitate a stakeholder consultative workshop on the proposed reviews to the ERM Policy and Framework. Incorporate relevant feedbacks received in the revised ERM Policy and Framework.
- Finalise and produce a revised and updated risk management policy and framework.
Qualification, experience and competencies required:
- An Enterprise Risk Management Specialist with a Professional or Post Graduate Degree in Risk Management or related field.
- At least 15 years substantive experience and expertise in a senior capacity in Risk Management or related matters and experience of developing country's needs and challenges. Experience of providing such services within Commonwealth member states would be an added advantage.
- Previous Risk Management Policy and Framework development/evaluation/review experience
- Previous Enterprise Risk Management implementation support experience.
- Demonstrated ability to design effective risk reporting infrastructure that supports the consistent reporting of risks.
- Demonstrated capacity to establish and maintain excellent relationships with key partners.
- Demonstrated experience of engaging senior government officials in the delivery of risk management related services and the ability to communicate compliance and risk-related concepts to technical and non-technical audience
Please apply for this contract by submitting a Technical and Commercial proposal to: [email protected] by 16 February 2022.
Prices quoted should include VAT but must indicate clearly where VAT is applicable and where items might be zero-rated.). Evaluation will be based on both competency and cost.
Closing date: 17:00 GMT, 16 February 2022