As a Community, What Can We Learn From “The Nigerian Risk Awards” in terms of Best Practice? Please read below carefully 1. About the Awards The Nigerian Risk Awards recognise and reward organisations and individuals who have achieved measurable results through the effective implementation of good governance, effective internal controls and risk management systems. Particular emphasis is placed on those who have developed creative and innovative solutions in overcoming the challenges facing businesses and organisations in Nigeria. All companies compete equally, regardless of size. Every organisation has a unique risk management culture, but it is commitment, courage and effectiveness that makes our winners stand out from the crowd. 2. The objectives of the Nigerian Risk Awards are to: • Inspire and reward individuals and organisations practising good governance and leadership • Honour the outstanding risk professionals in the many and varied sectors in Nigeria • Promote risk management education and skills transfer as part of a national transformation agenda • Invest in individuals and organisations by giving them global exposures through technical skills transfer • Support continuing professional development and contribute towards raising the standards of risk management in Africa. 3. Awards Categories Who can enter? Chief risk officers (CROs) • heads of risk • finance directors • internal auditors • compliance officers • disaster and safety directors • heads, officers and other managers who are responsible for managing risk. Individual Awards 1. Risk manager of the year 2. Young risk manager of the year (age 25-30) This award is presented to in recognition of individuals who have the aspiration, inspiration and enthusiasm to promote and support enterprise risk management within their own organisation, with demonstrable results. The nominated risk manager could be the chief risk officer, head of market or any individual within the risk team who has responsibility for Risk Management in their organisation. Award criteria This outstanding risk practitioner will be expected to provide clear examples of excellence within their role. Judges will be looking for risk management processes, policies and systems they have introduced, which have made significant improvements to their organisation in the last 12 months. Of particular importance is how the risk management function responded to the challenges of operating in Nigeria, and how ERM skills contributed to organisation’s performance. Organisational Awards Judges will be looking at how risk management enabled your organisation not just to survive, but to thrive. How has risk management contributed to the development of innovative approaches and the successful achievement of business objectives within your organisation? What difference has the use of enterprise risk management skills made to your organisation’s strength? Organisations in the following sectors • Banking and Investment Services • Insurance and Pensions • Telecoms and Media Services • Manufacturing, Production and Industry • Oil and Gas Services 4. Award criteria Entries for each category will focus on: • Evidence of good governance structures and their operation in the organisation. • Cost savings or organisational changes resulting from effective internal controls systems. • Compliance and consistency with international best practice (eg. ISO31000, COSO). • Specific application to industry and organisational characteristics. • Evidence of the use of risk management skills in the decision-making process. • Evidence of the Board’s engagement with or understanding of risk management. • Innovative use of appropriate infrastructure to manage risks. • Practical applications of the risk appetite and tolerances. • Risk culture and steps to embedding risk management. • The introduction of risk initiatives, fraud identification and investigation. • Successful delivery of projects, evidence of loss minimisation and profit optimisation. • Demonstration of added value to the business and performance improvements. • Engagement and buy-in of all stakeholders, internal and external. • Visible commitment to development of risk-mature culture. Please ensure that your entry is communicated effectively in terms of grammatical style and context. 5. Entry guidelines Summary • Submission summary which, if shortlisted, will be included in the Awards table brochure (maximum 100 words). Main submission • Executive summary (maximum 500 words). • Main submission (maximum 1,800 words). Please explain as clearly as possible why you think you or your organisation deserves to win this award. Please refer to the award category and describe in detail how your organisation meets the criteria outlined. Examples, projects and information on which the award entry is based should be drawn predominantly from the last year (June 2013 to June 2014). • Please detail how you or your organisation have excelled, including relevant initiatives, and show how your actions have contributed to the advancement of the industry and improving risk management in the chosen sector. • The judges reserve the right to move entrants from one category to another if they believe it appropriate. You will be contacted if this is likely to happen • Your submission should include roles and responsibilities, specific challenges facing your organisation, the strategy chosen to resolve these challenges and why, evidence of innovation applied, and senior executives’ engagement. • For the Risk Manager and Young Risk Manager of the Year award, you should also include any personal evidence of contributions towards risk management in your organisation. • A high resolution photo of you, or the team submitting the entry, should accompany your submission. Should you reach the shortlist, this photo will be used in publicity material surrounding the awards dinner and on the awards website. 6. Full Terms & Conditions • There is no application fee, the awards are FREE TO ENTER and are open to any relevant organisation or individual. • Organisations can enter more than one category and are encouraged to nominate themselves. • The award winners will be chosen by an extensive panel of INDEPENDENT expert judges, using a fair and transparent judging process, with a detailed explanation of the judges final decisions to be published at Awards ceremony. • Award entries must be kept to a maximum of 1500 words. Entries that exceed this word limit will be disqualified. • Additional materials or evidences to justify application may be uploaded. • Carefully consider the judging criteria for each category of award. • Select the category or categories you wish to enter. You must submit a separate entry form for each category. No initiative can be entered into more than one category. • All entries should be endorsed by a CEO/Managing Director and/Board Risk Committee, with contact details included on the entry form. • Candidates for Risk Manager of the Year must attach a letter of support / endorsement of their application, from their MD/CEO and/Board Risk Committee. • In the Risk Manager of the Year category, the applicant should obtain approval to undertake the ambassadorial role implicit in attending an International Annual Conference in 2015. • The judges reserve the right to contact applicants and/or their MD/CEO/ Board Risk Committee for additional information where appropriate. • Entries not conforming to the Judging Criteria may be discarded. • Entries must be received by 5pm, 19th of Sept 2014. Late entries will not be considered. • Shortlisted finalists will be notified in writing by 3rd week in Oct 2014. • All entries become the property of CCN. In the interest of promoting good practice in Enterprise Risk Management, CCN reserves the right to publish the entries in full or in summary, and produce feature articles based on their contents. • CCN and the awards sponsors reserve the right to withdraw the presentation of any award should the expected level of quality not be met. 7. Meet the Judges Ahmed Babatunde Popoola (NIG) Mr Popoola is the MD/CEO of CRC Credit Bureau and has over 25 years’ private and public sector experience in the Nigerian economy. As the executive director/CEO of Abuja Enterprise Agency, he championed the cause of entrepreneurship and self-employment, and he has extensive management experience in banking operations, finance, planning and strategy, customer service, product development, risk management, venture capital, treasury and funds management. Mr Popoola holds Master’s degrees in economics and banking and finance from the University of Lagos, and is a Fellow of the Institute of Chartered Accountants of Nigeria, the Chartered Institute of Taxation of Nigeria and the Leadership for Environment and Development. He is also a member of the Nigerian Institute of Management and an alumnus of the Lagos Business School and Harvard Kennedy School of Government. Victor Odozi FCIBN (NIG) Mr Odozi is an economist and banker, and a Fellow of the Chartered Institute of Bankers of Nigeria. His career includes over 32 years at the Central Bank of Nigeria, culminating in 12 years as deputy governor. Since retiring, Mr Odozi has been involved in financial sector consulting, with particular interests in organisational change management, enterprise risk management, anti-money laundering compliance and typology studies, corporate governance, stakeholder management and leadership development. He has chaired the United Bank for Africa’s Risk Management Committee and its Pensions Custodian board, as well as the board of Excel Professional Services. Mr Odozi has held board-level positions with Capital Assets Ltd, the Chartered Institute of Bankers of Nigeria, the Nigerian Institute of Management, the Institute of Credit Administration, and Skye Bank. He is highly respected in the financial services sector as a coach, mentor and practitioner of sound corporate governance in Nigeria Ms Mobola Faloye (UK) Ms Faloye is a risk management professional with 20 years’ experience in the financial sector, most recently serving as chief risk officer of Guaranty Trust Bank. She has particular expertise in the use of qualitative and quantitative risk management engines, optimising the risk/reward balance to drive business growth and enhance shareholder value. Ms Faloye is the managing consultant of Marafold Ltd, specialising in effective management of risk data to reduce regulatory capital charges, data modelling, and risk assessment of commodities business (gas, power, oil, emissions and agriculture). She is currently studying for a doctorate in business administration. Dr Lynn Drennan PhD FCII FIRM FHEA CDir MIoD (UK) Dr Drennan is head of the Division of Risk at Glasgow Caledonian University where she has taught and researched risk management for over 19 years. She is a Fellow of the Chartered Insurance Institute, the Institute of Risk Management and the Higher Education Academy, and a qualified chartered director. From 2006 to 2012, Dr Drennan was the CEO of Alarm, the public risk management association, later joining the Institute of Risk. She is a frequent presenter at UK and international conferences and has published widely, co-authoring two risk management books: Reputational Risk: a question of trust and Risk and Crisis Management in the Public Sector. Dr Drennan holds a BA in sociology and psychology from the University of Strathclyde and a PhD in education management from the University of Glasgow. Paul Dudley (UK) Paul Dudley (UK) Mr Dudley is a director and former chairman of the UK Public Risk Association. He gained extensive public sector risk management experience at Hertfordshire County Council and the London Borough of Tower Hamlets and has headed up enterprise risk management, health and safety, business continuity management and insurance strategies and processes for over 20 years. Mr Dudley is a director of Alarm (the public service risk management association) and company secretary, and chaired the association in 2009-10. He was recognised for his contribution to public sector risk management, and to Alarm as an organisation, becoming an honorary lifetime member in 2012. Professor Peter Young (USA) Professor Peter Young (USA) Professor Young holds the 3M endowed chair in international business at the Opus College of Business, University of St Thomas, and held the EW Blanch senior chair in risk management at the same establishment from 1994 to 2011. He was co-creator of the University’s actuarial science programme, which in 2011 received recognition as a Centre for Actuarial Excellence, and serves as its principal adviser. Professor Young has written extensively on the subject of risk management, and is recognised internationally for his work in both the public and private sectors. Dr David Hillson (UK) Known globally as The Risk Doctor, Dr Hillson is an award-winning practitioner who consults and writes widely on risk management. His ground-breaking work in project risk management was recognised by honorary fellowships from both the Association for Project Management and the Project Management Institute. Dr Hillson is an active Fellow of the Institute of Risk Management, and was elected a Fellow of the Royal Society of Arts to contribute to its Risk Commission. He is a Chartered Fellow of the Chartered Management Institute and has introduced several innovations in this field, which have been widely adopted. Dr Hillson is well known for promoting inclusion of opportunities throughout the risk process. His recent work has focused on risk attitudes and developing scalable risk methodology. John Thirlwell FCIB (UK) Mr Thirlwell is an internationally renowned speaker and writer on operational risk, risk management and governance. With over 30 years’ experience in financial services, he has represented several banking and insurance companies at board level as an executive or non-executive director. He was a director of the British Bankers’ Association (BBA), helping to negotiate the current operational risk regulatory framework for banks, and founded and chaired the BBA’s Global Operational Loss Database. Mr Thirlwell has chaired the UK Financial Services and Insurance Committee of the International Chamber of Commerce and has contributed to advisory groups on risk and operational risk for the Bank of England, the Financial Services Authority, the Financial Services Skills Council, the Chartered Institute of Securities and Investment and the Lloyd’s Market Association. He graduated from the University of Oxford and is a Fellow of the Institute of Operational Risk and the Chartered Institute of Bankers. Professor Thomas Hethmon (USA) Professor Hethmon is associate professor, Western Mining Presidential Endowed Chair in Mine Safety, and director of the Center for Mining Safety and Health Excellence at the University of Utah. He instructs mining engineering students and corporate managers on risk management and other topics. Previously he held executive positions in safety and health management and risk management for several US and Australian multinational mining and chemical corporations. Professor Hethmon received degrees from UCLA and California State University, and postgraduate education at the Thunderbird School for International Management. His work experience extends to more than 30 countries worldwide, including a number of African nations. Mike Finlay (UK/South Africa) Mr Finlay has over 25 years’ experience in banking and finance, including establishing new business departments for derivatives, restructuring international payments businesses, and developing regulatory banking law. He developed the risk management framework for the Bond Market Exchange of South Africa and has helped insurers to implement operational risk methodologies around Solvency II. Mr Finlay worked on the creation of the KRIeX.org KRI Library and on loss data consortium requirements for banking associations. He is a lecturer on operational risk at the Bank for International Settlements (BIS) and on risk management at Judge Business School, Cambridge, and the University of South Africa. Mr Finlay has worked with the World Bank/IFC in Eastern Europe, the Financial Services Volunteer Corps and the BIS Financial Stability Institute. He is a Fellow of the South African Institute of Bankers and the Institute of Operational Risk, and a member of the Association of Certified Fraud Examiners. Kate Boothroyd, FIRM (UK) Ms Boothroyd is a risk management consultant with particular expertise in project and corporate risk management, training and development, and internal audit. She has worked for major clients in the public and private sector in several countries and across industries including oil and gas, mining, utilities, energy, construction, civil engineering, nuclear, housing, education, rail and pharmachem. Ms Boothroyd has been an active member of the Institute of Risk Management (IRM) since 1992, serving as a director from 1999-2003 and deputy chairman the following year. She is one of the presenters of the IRM’s ‘Fundamentals of Risk Management’ course, and chair of its North West England Regional Group. Ms Boothroyd authored the ‘Risk Management in Architecture, Engineering & Construction’ specialist module of the IRM International Diploma in Risk Management, for which she is an examiner, and is the new author of the core Risk Assessment module. Mrs Remi Odunlami ACCA (NIG) Mrs Odunlami has over 25 years’ experience in the finance industry, having started her career in 1986 as a trainee auditor at Price Waterhouse. Before setting up her own risk management consultancy in 2013, Ms Odunlami was chief risk officer/executive director, risk management at First Bank Nigeria with executive responsibility for credit, operational, information security, compliance and legal risks. Previously, Ms Odunlami spent 19 years with Nigeria International Bank (now Citibank Nigeria), where her risk management roles covered credit, operational and market risks. She became the bank’s first female senior credit officer and was later appointed as country risk manager and an executive director. Ms Odunlami holds corporate governance roles on the board of three financial institutions. She is a Fellow of the Chartered Association of Certified Accountants (ACCA) and holds a BSc in mathematics from the University of Warwick. Dimeji Salaudeen (NIG) Dimeji Salaudeen is a partner in the risk consulting group of KPMG Nigeria and heads the internal audit, risk and compliance services unit. He has accumulated over 21 years of risk consulting experience, working in the Africa region for local and multinational organisations. Dimeji has substantial experience in enterprise risk management, financial risk management, corporate governance, internal audit and international financial reporting, having led a number of large-scale projects. In performing risk consulting assignments, Dimeji assists to conduct risk assessments, develop key risk indicators and control assessment frameworks, implementation and provision of quality assurance review. Dimeji has a degree in Chemistry from the University of Lagos and completed the Advanced Management Programme of the Lagos Business School. He is Fellow of the Institute of Chartered Accountants of Nigeria and an Associate of the Chartered Institute of Taxation of Nigeria. Dimeji is a sector head in KPMG Global Africa Practice. Olayinka Odutola FCIB, FERP, ACIPM DG, Association of Enterprise Risk Management Professionals, Nigeria, AERMP. Olayinka Odutola is a Professional Banker with over 28 yrs experience. This cuts across Enterprise-wide Risk Management (ERM) & Basel Accord Framework Design & Implementation, Credit Risk Management, Credit Policy, Credit Culture, Risk Research & Training, Marketing and Business Development, Branch, zonal and Regional Management, Banking Operations, Customer Relationship Management, Audit, Inspection, Collections and Loan Recovery / special Asset Management. He also had a brief stint in the Mortgage Banking Industry Sere Mady Kaba (NIG) Mr Kaba is corporate secretary and director of risk management and compliance at Africa Re, where he has contributed to the development of the firm’s ERM framework. Mr Kaba served for 22 years at the Central Bank of Guinea in a series of management positions, and is an inspector of financial services and a certified internal auditor. He holds a DES with remarkable distinction in accounting and financial management from the University of Conakry, Guinea, and was director of insurance in Guinea for eight years, gaining extensive insurance and reinsurance experience. He has been a member of the Institute of Internal Auditors since 2005, studying governance, risk management and internal auditing. Mrs Dorothy M. Gjerdrum (USA) As senior managing director of Gallagher Public Sector, Ms Gjerdrum leads 300 Gallagher insurance brokers and specialists dedicated to public sector clients across the US, focusing on issues of risk management, exposure identification, pool operations and enterprise risk management. In addition to leading the broker group, she provides consulting and risk management services to select Gallagher public sector and higher education clients. Stephan Cronje FFA FCAA FHAS (Cyprus) Mr Cronje is a founder and director of Cronje & Yiannas Actuaries and Consultants, Cyprus. He has provided actuarial consulting advice to corporate and public sector organisations in Europe, the US, the Middle East and South Africa for over 15 years. Starting his career with consultants Alexander Forbes in South Africa, Mr Cronje later joined Watson Wyatt in the UK as a pensions and investment actuary in 1999, before transferring to its international benefits practice in New York. From 2007 to 2010 he led the Hewitt Associates S A (Greece) retirement and financial services team for the Middle East and coordinated its worldwide social security consulting offer. Mr Cronje is a Fellow of the Institute and Faculty of Actuaries in the UK, the Cyprus Association of Actuaries and the Hellenic Actuarial Society, and a member of the International Actuarial Association. He holds a B Comm Hons in mathematics from the University of Stellenbosch (South Africa), and LLB Hons (Law) from Nottingham Law School (UK). Engr. Jacob Adeosun B.Sc., AIRM, ACII, MNSE, MIoD, FRSAN (NIG) Jacob is an Executive Director of Industrial Risks Protection Consultants (IRPC), subsidiary of Insurance Brokers of Nigeria Ltd, Member of The Marsh Group. He is an Executive Director of Insurance Brokers of Nigeria. He has over two decades of diverse industrial experience in Production Operations, Process Plant Construction, Safety and Loss Control with multinational Oil, Gas and Manufacturing companies before receiving specialist risk management, loss control and risk protection engineering training in Marsh UK & USA including Risk Engineering courses at Loughborough University of Technology, UK and University of Texas at Austin USA. He is the 1st Vice President of Risk & Insurance Managers Society of Nigeria and President, Risk Surveyors Association of Nigeria. Rico Ferrarese Mr Ferrarese is senior strategic risk manager at LEGO Group, where he has worked as a strategist since 2007. He held a series of key account management positions at LEGO Group company, Modulex, and previously served as an officer in The Royal Danish Army for 13 years. Mr Ferrarese has extensive international experience implementing global projects. Mr Ferrarese holds an MSc in strategic planning and an MBA from Heriot-Watt University, Scotland. • The judges’ decisions are final and no correspondence will be entered into. • Entries should be presented in Calibri font, size 12, with 1.5 line spacing, and additional spacing between paragraphs. • Additional materials or evidence to support your application must be uploaded for the judges. • A company logo must accompany each submission. Please supply a high-resolution JPEG of your organisation’s logo. Should you reach the shortlist, this logo will be used in publicity material surrounding the awards dinner and on the awards website. • Please note that we cannot consider entries that exceed the word limit of 1,500 words. Submissions exceeding the stated length will be disqualified and submissions without a high resolution JPEG of your organisation logo will not be accepted. • We reserve the right to withdraw any award should it be discovered that an entry contains false information. • The closing date for entries is 19th September 2014. Late entries will not be accepted. • The judges reserve the right not to issue a shortlist or make an award if, in their view, none of the entries submitted meets the required standard. • The winner of each category will be revealed at the Awards Dinner. • The judges may also make highly commended awards in any category. • Winning entrants will be required to participate in post-awards publicity. The NRAs reserves the right to publicise the results and use winning entries in press releases, case studies, on our website and other media channels. • It is a condition of entry that entrants co-operate with the awards team, sponsors and the media. Winners, runners-up and those highly commended may refer to the awards in their own publicity material following guidelines set by the NRAs team. If you have any questions about the awards process please email info@nigerianriskawards By submitting an entry to Nigerian Risk Awards 2014 you provide your acceptance of the terms and conditions.
Posted on: Wed, 29 Oct 2014 17:30:53 +0000
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