Stockgap Fuels Limited - We are a leading oil and gas company operating in Nigeria’s downstream sector with our head office in Port Harcourt, Rivers State. To meet the growing demand of Nigeria’s Market, Stockgap Fuels Limited is expanding its LPG business by investing in additional storage and cylinder-filling facilities in 4 strategic locations spanning major regions of the country: Lagos/South-West, South-South/South-East, North-Central/North-West, and North-East regions, respectively.
We are recruiting to fill the position below: Job Title: Head, Business Assurance Location: Port Harcourt, Rivers Employment Type: Full-time
About the Role
Stockgap Fuels Limited is seeking an experienced and strategic Head of Business Assurance to provide the Board and executive management with confidence that business risks are understood and managed, internal controls function effectively, operations comply with legal and regulatory standards, and company assets and revenues are protected.
This leadership position brings together four key assurance disciplinesEnterprise Risk Management (ERM), Internal Control, Regulatory Compliance, and Internal Auditinto one integrated framework.
The role plays a vital part in safeguarding business continuity, minimizing loss exposure, and supporting group expansion across LPG, White Products, LNG/CNG, Fuel Oils & Bitumen, and Cylinder Manufacturing.
Key Responsibilities
Enterprise Risk Management (ERM): Design, implement, and maintain a group-wide ERM framework aligned with ISO 31000. Recommend risk appetite and tolerance levels, maintain group risk registers, monitor Key Risk Indicators (KRIs), run Risk and Control Self-Assessments (RCSA), and present top risks to the Executive Committee and Board.
Internal Control & Governance: Establish and maintain an internal control framework based on COSO standards across all business lines. Establish Risk and Control Matrices, enforce core control principles (segregation of duties, authorization limits, access controls), oversee fraud-risk management, and embed controls into new operations such as LNG/CNG and cylinder manufacturing.
Regulatory Compliance: Oversee compliance with key industry regulations including the Petroleum Industry Act 2021, NMDPRA requirements, Standards Organisation of Nigeria (SON) guidelines, environmental/HSE laws, tax regulations, CAMA 2020, and the Nigeria Data Protection Act 2023. Act as primary contact for regulatory bodies and manage licenses, permits, and ISO certifications.
Internal Audit Leadership: Lead the internal audit function in accordance with IIA Global Standards under a Board Audit Committee-approved Charter. Formulate and execute a risk-based annual audit plan, conduct operational, financial, compliance, IT, and investigative audits (including stock counts and cylinder reconciliations), and submit quarterly reports to the Board Audit Committee.
Business Continuity & Process Assurance: Maintain the group Business Continuity Management framework and crisis management plans. Oversee standard operating procedure (SOP) documentation and perform regular process-efficiency reviews.
Revenue Assurance & Cost Control: Track and mitigate revenue leakage, stock variances, and cylinder losses. Evaluate key vendor and financial service provider risk, review transaction profit variances, and recommend cost-reduction opportunities.
Team Leadership & Board Advisory: Direct and develop the Business Assurance team, manage departmental budgeting, serve as principal adviser/secretary to the Board Audit Committee, and foster a culture of integrity and accountability across the group.
Requirements & Qualifications
Education: Bachelor's degree (minimum Second Class Upper) or HND (minimum Upper Credit) in Accounting, Finance, Economics, Law, Engineering, Social Sciences, or a related field, along with a relevant postgraduate degree (MBA, MSc, or MA).
Professional Certifications: Required: Must hold at least one core accounting/audit certification: CIA, ACA (ICAN), ACCA, or CPA. Advantageous: CRMA, CISA, CRISC, CFE, CRCMP, CGEIT, ISO 31000, PMP, Six Sigma, or ITIL.
Required: Must hold at least one core accounting/audit certification: CIA, ACA (ICAN), ACCA, or CPA.
Advantageous: CRMA, CISA, CRISC, CFE, CRCMP, CGEIT, ISO 31000, PMP, Six Sigma, or ITIL.
Work Experience: Minimum of 15+ years of relevant experience in internal audit, internal control, risk management, or compliance, with at least 5 years in a senior managerial role. Experience in oil & gas, energy, manufacturing, or financial services (downstream petroleum or LPG operational experience is strongly preferred). Proven track record of building/leading an assurance or audit function and reporting directly to a board or audit committee.
Minimum of 15+ years of relevant experience in internal audit, internal control, risk management, or compliance, with at least 5 years in a senior managerial role.
Experience in oil & gas, energy, manufacturing, or financial services (downstream petroleum or LPG operational experience is strongly preferred).
Proven track record of building/leading an assurance or audit function and reporting directly to a board or audit committee.
Core Knowledge & Competencies:
Frameworks & Regulations: Thorough working knowledge of IIA Standards, COSO Framework, ISO 31000, Three Lines Model, Petroleum Industry Act 2021, NMDPRA requirements, NCCG 2018, CAMA 2020, and NDPA 2023.
Technical Proficiency: Expertise in fraud risk management, data analytics for internal audit, and IT general controls.
Key Skills: High integrity, independence, sound judgment, strong analytical/investigative skills, board-level communication, commercial acumen, and the ability to constructively challenge senior stakeholders