NNPC Policy Update Policies and Process PDF

NNPC Limited Policy Management Processes and Proced 3.0 3.1 1. Policy Update Policies and process Introduction The policy update process defines the procedure for the revision of policies including the triggers, drivers, responsibilities, consultation, reviews, approval and communication to stakeh...

NNPC Limited Policy Management Processes and Proced 3.0 3.1 1. Policy Update Policies and process Introduction The policy update process defines the procedure for the revision of policies including the triggers, drivers, responsibilities, consultation, reviews, approval and communication to stakeholders. 3.2 2. Objectives To define the procedure for the revision of policies including the triggers, drivers, responsibilities, consultation, reviews, approval and communication to stakeholders. 3.3 Policies Policies S/N 1. Description Responsibilities i. Board and/or Approving authority Updates to policies that involve any change in or impact the implementation of Company strategy will have to be approved by the Board ii. Head of Efficiency unit The Head of Efficiency shall review and approve draft changes to the policy template. 2. Drivers for Policy Renewal and Update NNPC Limited Policy Management Processes and Procedures Policies S/N Description NNPC Limited’s policies and process shall have a lifespan of one (1) to two (2) years and would be expected to be renewed at such intervals. However, they may be updated / renewed based on the following triggers: a. Changes in governmental regulations and laws or policies governing or impacting any existing policy b. Changes to company strategy that impact the policy c. Risk response d. Improvement opportunities Generally, updates to policies that have an influence on company’s strategy, risk response and business process would require Board approval. An example is a change in policy scope. Updates to policies that do not have any impact on company’s strategy, risk response and business process would be approved and signed by the GCEO Examples of such changes include: a. change in policy statement format, b. font type/size, c. change of name of a referenced document or body etc. At the culmination of the renewal cycle, policy renewals would be approved by the GCEO or any other approving authority if they have no impact on Company’s strategy, risk response and business process. GRC would maintain a repository for all corporate policies. Page 19 of 347 NNPC Limited Policy Management Processes and Procedures Policies S/N Description Reminders would be sent to the business owners at the end of the renewal cycle. Distribution, Archiving and Publishing of Policies will be carried out in line with NNPC Limited’s Document Control Procedure. 3. Retirement of Corporate Policies Corporate Policies are to be retired if they are no longer fit for purpose. The business case for any such retirement would be prepared by the Process owner. It would then be presented to Board Audit Committee (BAC) for endorsement. The Board is to be notified of the retirement of any Corporate Policy. 3.4 Procedures Procedures S/N 1. Responsible Party Business Unit/GRC/Efficie ncy unit Description 1.1 Job Aid At the minimum interval for review of the policy or when there is a business need (e.g. regulatory change): Email Review existing policy to ascertain if any modification is required 2. Process Owner 2.1 If modification is required, conduct a change impact analysis Page 20 of 347 NNPC Limited Policy Management Processes and Procedures Procedures S/N Responsible Party Description Job Aid and share with Efficiency unit if initiated by process owner or GRC 3. 4. 5. Efficiency Team Board committee (where required) Board (where required) 3.1 If the change/update is minor, then prepare policy in approved template and share with the GCEO or any other approving authority for signing Power point/ Email 3.2 Notify process owners and disseminate policy to the business 3.3 If the change/update is major, review the draft policy, analyse change impact and prepare Board committee presentation slides with a case for modification and discuss with the process owner if required 3.4 Review and approve the presentation slides for the appropriate Board committee. 4.1 Evaluate proposed update to the policy 4.2 If the policy is adequate, recommend to the Board for approval 4.3 If not adequate, provide feedback to Efficiency unit and the process owner on the required action. 5.1 Approve update to the policy Email Email Page 21 of 347 NNPC Limited Policy Management Processes and Procedures Procedures S/N 6. 3.5 Responsible Party Description Efficiency unit Job Aid 5.2 Send feedback to Efficiency unit for onward processing. 5.3 If not approved, revisit 3.3. 6.1. Prepare policy in approved template and share with the approving authority for signing 6.2. Notify process owners and disseminate policy to the business. Email Input and Output Input & Output Documents S/N 1. 2. 3. Document Description Type Frequen cy Source Recipient Output As required Business unit/Effici ency unit/GRC GCEO or approving authority Presentation slides Input for the Business case and draft policy As required Efficiency unit Board Committee (where required) Approved Policy As required Board Committe e/GCEO or any approving authority User Departmen t/Process Owner and any other Updated policy draft Output Page 22 of 347 NNPC Limited Policy Management Processes and Procedures Input & Output Documents S/N Document Description Type Frequen cy Source Recipient relevant stakeholder 3.6 Key Performance Indicators Key Performance Indicators S/N 1. Performance Measure Basis Measurement of Timeframe Target Compliance with periodic reviews Evidence of periodic reviews Bi-annually TBD Page 23 of 347 NNPC Limited Policy Management Processes and Procedures