Senior Manager Risk and Compliance Unit @ Aga Khan University

Job Summary

Responsibilities:

1.      ​Risk Management:

• Lead the identification, assessment, and mitigation of financial and operational risks within the University.
• Conduct periodic risk assessments and develop strategies to manage risks associated with financial transactions, operational processes, and regulatory requirements.
• Develop risk management frameworks and policies to ensure they align with the University’s goals and best practices.

2.      Internal Control Review:

Review and evaluate the internal controls in place within the Finance Department, including areas such as:

• Patient Billing: Ensure that patient billing processes are accurate, timely, and compliant with financial policies.
• Student Billing: Oversee student billing practices, ensuring compliance with tuition fee structures, timely invoicing, and accurate reporting.
• Fixed Assets Management: Monitor the management of fixed assets, including procurement, depreciation, and disposal processes.
• Cash and Treasury Management: Assess the effectiveness of cash flow management, banking, liquidity management, and treasury operations to ensure appropriate controls are in place.

3.      ​Regulatory Compliance:

• Ensure compliance with local and international statutory and regulatory requirements applicable to AKU, including tax laws, financial reporting standards, healthcare regulations, and higher education regulations.
• Collaborate with legal and regulatory bodies to ensure the institution is aware of and adheres to changing regulations.
• Maintain up-to-date knowledge of applicable laws and industry standards, advising senior management and other departments on necessary adjustments to ensure compliance.

4.      ​Audit and Monitoring:

• Track the implementation of internal and external audit findings and ensure that corrective actions are implemented promptly.
• Prepare regular reports on risk and compliance activities for senior leadership, providing recommendations for improvement as necessary.

5.      ​Training and Awareness:

• Develop and implement training programs for finance and other relevant departments to raise awareness about internal controls, compliance requirements, and risk management practices.
• Promote a culture of compliance and continuous improvement within the University.

6.      Collaboration and Stakeholder Engagement:

• Work closely with other departments (e.g., Legal, HR, IT, etc.) to ensure coordinated efforts in managing risks and maintaining compliance.
• Collaborate with senior management to develop strategies for improving operational efficiency and minimizing risk exposure.

.      ​Reporting and Documentation:

• Prepare regular reports on risk and compliance activities, audits, and assessments for senior management, the Board of Trustees, and regulatory authorities as needed.
• Maintain comprehensive records of compliance activities, risk assessments, and remediation efforts.

    ​Information Technology and Data Analytics:

• Utilize advanced technology tools and platforms, develop, and maintain interactive dashboards and reports for tracking financial performance, risk indicators, and compliance metrics.
• Collaborate with IT team to implement and enhance financial systems, ensuring seamless integration with reporting and analytics tools.
• Analyze large datasets to provide actionable insights, facilitating data-driven decision-making across multiple departments.
• Establish and maintain strong data governance practices practices are followed, maintaining the integrity and security of financial and operational data.
• Identify opportunities for process automation and digital transformation to improve efficiency and accuracy in risk management and compliance activities.
• Prepare regular reports on risk and compliance activities, IT system evaluations, audits, and assessments for senior management, the Board of Trustees, and regulatory authorities as needed.
• Maintain comprehensive records of compliance activities, risk assessments, IT incidents, and remediation efforts

Required Skills