NNPC Limited Policy Formulation PDF

NNPC Limited Policy Management Processes and Proced 2.0 2.1 Policy Formulation Policies and process Introduction The policy formulation process defines the procedure for the creation of policies including the responsibilities, consultation, reviews, approval and communication to stakeholders. 2.2...

NNPC Limited Policy Management Processes and Proced 2.0 2.1 Policy Formulation Policies and process Introduction The policy formulation process defines the procedure for the creation of policies including the responsibilities, consultation, reviews, approval and communication to stakeholders. 2.2 Objectives The objective of the policy formulation process is to:  Provide an efficient and effective process that enables process owners to document policies and process  Ensure consultations at different levels of stakeholders have taken place  Enhance compliance with the required specifications, standards, and quality. 2.3 Policies Policies S/N 1. Description Approved Template NNPC Limited’s Document Control Procedure shall be applied towards the documentation of policies and process within NNPC Limited. Modification or change can only be given by the Efficiency unit 2. Responsibilities i. Board NNPC Limited Policy Management Processes and Procedures Policies S/N Description The Board has the overall responsibility for Corporate Policies; therefore, formulation of all policies in NNPC Limited must be approved by the Board of directors. The following shall be responsible for managing NNPC Limited’s Policies within the Company: ii. The GCEO and Management of NNPC Limited; iii. The Efficiency unit of CS&S; iv. Global Compliance unit of GRC Function; v. Business/Process Owners; vi. Employees of NNPC Limited ii. Group Chief Executive Officer The Group Chief Executive Officer (GCEO) shall affix his signature to and have primary responsibility for the effectiveness of all Corporate Policies approved by NNPC Limited’s Board of Directors. iii. Efficiency Unit of CS&S a. Provide best practice input/ tools and methodologies in processes reviews and optimization b. Champion the periodic review of processes iv. Governance, Risk and Compliance (GRC) a. Ensure currency and consistency of all policies b. Provide guidance on requirements of the process c. Corporate custody of organisation-wide process documentation d. Compliance reviews on adherence to policies and Page 10 of 347 NNPC Limited Policy Management Processes and Procedures Policies S/N Description procedures v. Business/Process Owners a. Articulate the need for policy formulation b. Provide guidance on external/internal changes that affect NNPC Limited’s policies c. Drive policy implementation within the relevant business processes d. Own and implement functional policies and procedures e. Collaborate with the Efficiency Unit for subsequent process optimization vi. Employees All employees and contractors are responsible for the implementation of the policies when carrying out their functions at various levels. All employees are expected to comply with approved policies. 3. Policy Formulation All policies in NNPC Limited shall be formulated by the Process Owner/Business unit and the Efficiency unit. They shall include as a minimum the features below:  Introduction  Objectives  Policies  Procedures  Input and Output documents  Key Performance Indicators Page 11 of 347 NNPC Limited Policy Management Processes and Procedures Policies S/N Description  Process flow map All policies that impact the Company’s strategy and management of risks shall be reviewed by the Efficiency Unit and presented to the approving authority. 4. Drivers for Policy Formulation Drivers for Policy Formulation shall at a minimum include:  Business environment, organisational values or Board mandate 2.4  Laws and Regulations  Strategic objectives  Risk Management Procedures Procedures S/N Responsible Party Description Job Aid 1. Business Unit/Efficiency unit/GRC 1.1 Identify the need for new policy Word/Emai l 2. Business Unit 1.2 Send business case and draft policy to Efficiency unit for review Word/Emai l 3. Efficiency Team 2.1 Review business case and draft policy Word/Emai l 2.2 If business case and draft policy are satisfactory, forward to the Page 12 of 347 NNPC Limited Policy Management Processes and Procedures Procedures S/N Responsible Party Description Job Aid approving authority for endorsement 2.3 Otherwise, send business case and draft policy to the process owners for review and update. 4. 5. Approving authority Efficiency unit 3.1 Review policy for adequacy and strategic alignment Word/Emai l 3.2 Share the reviewed policy with the Efficiency unit 4.1 Provide feedback to the business Email owners 6. Process Owner 5.1 Finalise policy documentation 7. Efficiency unit (with support of Process Owner) 6.1 Prepare a presentation Word summarizing the policy and benefits Review and present the policy to the appropriate Board committee (where required) 8. 9. Board Committee (where required) Board (where required) 6.2 7.1 Consider and evaluate the policy 7.2 If policy is adequate, recommend to the Board for approval 7.3 If rework is required, then revisit 4.1 8.1 Approve policy and send to the Efficient unit Word Email Email Page 13 of 347 NNPC Limited Policy Management Processes and Procedures Procedures S/N Responsible Party Description 8.2 2.5 Job Aid If policy is not approved, revisit 4.1. 10. Efficiency Unit 9.1 Prepare policy in approved Email template and share with the GCEO (where required) or any other approving authority 11. GCEO and/or any other approving authority 10.1 Sign policy and share with the Word/Emai Efficiency unit l 12. Efficiency Unit 11.1 Notify the process owner(s) Email 11.2 Disseminate policy to the relevant stakeholders (Business unit, GRC, GCEO etc.) Input and Output Input & Output Documents S/N 1. 2. Document Description Type Frequen cy Source Recipient Business case and draft policy Output As required Process owners/B usiness Unit Efficiency unit Reviewed business case and draft policy Output As required Efficiency unit Approvin g authority Page 14 of 347 NNPC Limited Policy Management Processes and Procedures Input & Output Documents S/N Document Description Type Frequen cy Source Recipient Output 3. Reviewed business case and draft policy As required Approving authority Process owners/Bu siness Unit 4. Presentation slides Output for the business case and draft policy As required Efficiency unit Board Committe e (where required) Approved policy As required Efficiency unit User departme nt/Process owner and other relevant stakehold ers Output 5. 2.6 Key Performance Indicators Key Performance Indicators Performance Measure Basis Measurement of Timeframe Target 1. Existence of the drivers of policy formulation Content of the document addresses the need for the policy As required TBD 2. Use appropriate template Alignment with policy template As required TBD S/N of Page 15 of 347 NNPC Limited Policy Management Processes and Procedures Page 16 of 347 NNPC Limited Policy Management Processes and Procedures