Senior Manager Risk and Compliance Unit

Introduction

Chartered in 1983, Aga Khan University (AKU) is a private, autonomous and self-governing international university with 13 teaching sites in 6 countries distributed across three continents. As an integral part of the Aga Khan Development Network, AKU provides higher education in several disciplines, carries out research pertinent to the countries in which it exists and has campuses, programmes and/or teaching hospitals in Afghanistan, Kenya, Pakistan, Tanzania, Uganda and the UK. As an international institution, AKU operates on the core principles of quality, relevance, impact and access; and AKU is a model of academic excellence and an agent of social change.

As an equal opportunity employer, AKU believes in promoting a diverse and inclusive culture and is committed to adopt appropriate standards for safeguarding and promoting a respectful relationship with and between diverse workforce of its faculty, staff, trainees, volunteers, beneficiaries, wider communities, and other stakeholders with whom it works, including children and vulnerable adults and expects all employees/trainees and partners to share this commitment.

Position Overview:

The Head of the Risk and Compliance Unit will be responsible for leading the development, implementation, and management of the University’s risk management and compliance framework. This includes reviewing internal controls within the Finance Department, focusing on areas such as patient and student billing, fixed assets management, cash and treasury management, and other critical financial operations. The role also entails ensuring adherence to all statutory and regulatory requirements to mitigate financial and operational risks.

Responsibilities

Key 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.

7. 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.

8. 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.

Requirements

Qualifications and Experience:

Education:

• A Master's degree in Finance, Accounting, Business Administration, or a related field.
• Professional certifications such as CPA, CIA, CISA, ACA/FCA or equivalent are preferred.

Experience:

• Minimum of 10 years of progressive experience in risk management, internal audit, or compliance, with at least 5 years in a leadership role.
• Proven experience in reviewing and managing internal controls, particularly in the areas of finance, billing, fixed assets, and treasury.
• In-depth knowledge of regulatory frameworks, accounting standards (e.g., IFRS), and compliance requirements for educational and healthcare institutions.

Skills:

• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills, with the ability to engage stakeholders at all levels.
• Proficient in risk management software, audit tools, and financial management systems.
• Ability to work under pressure and handle multiple priorities.

To Apply

Please send your detailed CV to [email protected] and mention the position number "3216547" in the subject line. Only shortlisted candidates will be contacted.

Comprehensive employment reference checks will be conducted

Applications should be submitted latest by December 26, 2024