Risk and Controls Expert

Responsibilities

Develop Process Understanding: Through documentation review and collaboration with business and risk partners, the process engineer gains a deep understanding of the organization's business processes.

Facilitate Process Mapping and Risk Identification: The process engineer facilitates sessions to map existing processes and identify potential risks associated with them.

Identify Controls: Based on the identified risks and understanding of the processes, the process engineer collaboratively identifies and recommends appropriate controls to mitigate those risks. This involves:

Reviewing Existing Control Measures: Assessing the effectiveness of any current controls in place.

Considering the Hierarchy of Controls: Evaluating elimination, substitution, engineering controls, administrative controls, and PPE in order to prioritize the most effective and sustainable controls.

Considering the Nature of the Risk: Focusing on both preventative controls (reducing the likelihood of an event) and mitigating controls (reducing the impact if an event occurs).

Collaborating with First Line: Working closely with the process owners to ensure the chosen controls are practical and can be effectively implemented in their day-to-day operations.

Develop Risk and Control Documentation: The process engineer documents the identified risks and controls, potentially using a Risk and Control Matrix (RACM) to systematically identify and evaluate the control measures.

Review and Assess Control Effectiveness: The process engineer may also review and assess the effectiveness of the implemented controls, ensuring they are operating as intended and identifying any deficiencies that require attention.

Support Issue Management: When gaps or control weaknesses are identified, the process engineer assists in integrating these issues into the organization's issue management and corrective action programs, collaborating with first line stakeholders to develop sustainable action plans.

Desirable skills and qualities

Strong Analytical and Problem-Solving Skills: To effectively identify risks and design appropriate controls.

Excellent Communication and Collaboration Skills: To work effectively with various stakeholders, including business owners, risk partners, and potentially internal auditors.

Process Engineering Expertise: A deep understanding of the organization's processes and the potential hazards involved.

Knowledge of Risk Management Frameworks: Familiarity with concepts like the Three Lines of Defense and methodologies like HAZOP or FMEA.