GAMBIA: Compliance Risk Management Takes Centre Stage

The Department of Enterprise Risk Management, Reforms and Modernization (ERMRMITD) has been mandated to champion compliance risk management in Gambia, with a view to promoting taxpayer satisfaction and ensuring a high level of institutional effectiveness.

Mandate and Responsibilities

According to Alieu Bittaye, Director of ERMRMITD, the department is responsible for:

• Coordinating the development of corporate risk policies, strategies, and procedures
• Identifying, recording, managing, and mitigating corporate risks
• Maintaining a comprehensive risk register
• Developing and implementing business continuity plans

Enterprise Risk Management Section

The Enterprise Risk Management Section plays a crucial role in ensuring that risk management is integrated at all levels of the authority.

Reforms & Modernization Section

The Reforms & Modernization Section coordinates the implementation of reforms and modernization programs, projects, and activities under the Project Management Office.

Intelligence Section

The Intelligence Section:

• Collects, processes, and reports information
• Identifies and manages risk areas
• Handles informants
• Disseminates intelligence in a timely manner
• Regularly reassesses effectiveness to ensure optimal performance

Importance of Compliance Risk Management

Promoting compliance risk management is essential for taxpayer satisfaction. As Bittaye emphasized:

“Our mandate is clear: we must champion and institutionalize risk management at all levels of the authority, initiate and coordinate the implementation of appropriate reforms & modernization programs, and deploy and maintain robust and efficient IT/MIS systems and services.”

Impact on Gambia’s Efforts

With its commitment to compliance risk management, ERMRMITD is poised to make a significant impact in Gambia’s efforts to promote:

• Transparency
• Accountability
• Good governance