Topic

GRC – A Strategic Approach in KIPIC

Abstract

A critical business concept, GRC integrates a risk-based management approach that is proactive and effective. It provides a uniform view of information, so they can align risk management with objectives with less complexity and inconsistency, while harnessing technology for optimum business value. Growing regulatory environment, higher business complexity and increased focus on accountability is directing Management to pursue a broad range of governance, risk and compliance initiatives across the organization. However, planning and managing theses in silos potentially increases the overall business risk for the organization.

The presentation will discuss the driving forces that are compelling business to adopt GRC and methodologies to coordinate and integrate Governance, Risk, and Compliance process. A governance process integrates below elements into a coherent process to drive corporate governance; Definitions and communication of corporate control, key policies, enterprise risk management and evaluating business performance through balanced scorecards, risk scorecards and operational dashboards. Risk management enables to evaluate all relevant business and regulatory risks and controls and monitor mitigation actions in a structured manner. Compliance ensures that the processes and internal controls to meet the requirements imposed by internal policies, governmental bodies and regulators. Also, another key area of discussion would be to which organizational levels should GRC be stretched.

GRC implementation is most efficient when it’s based on a pre-defined architecture. The presentation will give insights to a preferred and KIPIC recommended GRC architecture. Even when GRC is rolled out with a predefined architecture, there are areas that are of major concern to organizations; such as Board & Management Oversight, increased focus to meet strategic and operational objectives, Flaws in risk management functions and processes, and the business performance level.
The presentation would further focus to give a good understanding on the functional requirements of an effective GRC process. Although there are tools available to administer and manage GRC the tools have issues which will be discussed for audience benefit.

Following above highlights on GRC, the attention will be drawn to Information technology risk management (ITRM). The presentation will bring out a good understanding of the goals in IT risk management, the major challenges faced in IT risk management and performance enhancement through balancing risk, value and cost.

Biography

Ahmad Almulaifi whose currently holding the position of Manager, Information Technology Group in KIPIC; has over 20 Year experience in oil & gas field with variety of knowledge in IT including Planning, Datacenter, Infrastructure, Databases, Programming, Helpdesk and Security.

He has a Bachelor Degree in Computer Engineering from Kuwait University and achieved a number of certifications including certified Quality Management.

Almulaifi has started his career by joining KNPC on 1996 and gradually prompted until he became Team Leader Infrastructure. The position came with the challenge of building and operating one of the biggest infrastructure in Kuwait, which serves over 10,000 employees from three Data Centers and covering Kuwait three refineries, local marketing depots as well as 40 petrol stations. Almulaifi believes in the power of ideas; that way he was responsible of initiating and lunching many innovated projects including K-Companies first private clouds KNPC-(K-Cloud) providing IaaS concept to KPC and subsidiaries.

In 2017, Almulaifi joined KIPIC; the newest oil & gas company in Kuwait which is responsible of the new Zour Refinery, LNGI and Petrochemical facilities. Almulaifi later appointed as Manger of Information Technology Group with the great responsibility of building and establishing KIPIC’s IT from scratch with all of its infrastructure, teams and functionalities.

Almulaifi embraces Innovation, creativity and new technologies in all aspects and aim toward complete digitalization of KIPIC with the vision of enhancing core business productivity and taking KIPIC to the next level to be leader is smart operation technology.