You are currently viewing Abiola Olomola:  Driving Organizational Integrity through IT Compliance
Abiola Olomola

Abiola Olomola: Driving Organizational Integrity through IT Compliance

Mastering IT Governance, Risk and Controls!

The IT controls and governance industry plays a crucial role in ensuring the protection and integrity of information systems within organizations. This industry is pivotal in protecting organizational credibility and compliance, focusing on the integration of robust cybersecurity measures, adherence to regulatory requirements, and the seamless operation of IT systems. Professionals in this field are tasked with ensuring that organizations comply with regulatory standards and optimize their IT infrastructure to mitigate risks and enhance overall performance.

Abiola Olomola, a seasoned expert in this domain, holds the position of Senior Manager, IT Controls and SOX. With a solid academic foundation in computer engineering and information technology, accumulated by a leadership certification from Harvard Business School, Abiola’s career spans over 15 years, during which she has acquired 12 professional certifications. Her journey began as an IT consultant at a leading audit firm, where she refined her skills in IT operations, audit, and security. Abiola’s primary mission across various roles has been to add value and drive organizational performance through effective IT governance and risk management.

Currently, Abiola leads the IT controls program at IHS Towers. Her responsibilities include the design and implementation of governance, risk, and compliance (GRC) frameworks, annual IT scoping, compliance training, and the management of key professional relationships. By focusing on these areas, IHS Towers has been able to navigate complex regulatory environments and enhance its cyber risk management strategies. Abiola’s contributions have been vital in establishing a robust IT compliance culture within the organization, ensuring regulatory adherence and operational excellence.

Let’s explore Abiola’s effective IT leadership journey:

Managing Cyber Risk Under Regulatory Oversight

Abiola holds a bachelor’s degree in computer engineering and a master’s degree in information technology, along with a leadership certification from Harvard Business School. Over the course of her 15-year career, she has earned 12 professional certifications.

She began her professional journey as an IT Consultant at one of the big four audit firms, where she honed her skills in IT Operations, IT Audit, and Security.

Her primary objective in any organization she has been a part of is to add value and enhance the organization’s performance.

In her current role, her key responsibilities include creating and executing an IT controls program, which encompasses scoping, testing, remediation, and reporting to executive management. She performs and delivers IT scoping annually, covering systems and key reports. She also provides annual and ongoing IT compliance training.

She spearheads the end-to-end design and building of the governance, risk, and compliance (GRC) program. She builds and nurtures robust professional relationships with the 1st, 2nd, and 3rd lines of defense to report and manage cyber risk, all while operating under considerable regulatory oversight.

From Computer Engineering to IT Consultancy

Abiola, a young woman hailing from Lagos, Nigeria, had a clear vision from her early years in basic school (known as Primary School). Inspired by her father’s engineering career, she was determined to excel in the same field, embodying the spirit of the quote, “What a man can do, a woman can do better.” Her ambition was to outshine her father and make him proud.

During her high school years (known as Secondary School), she heard about two geniuses, Bill Gates and Paul G. Allen. These boyhood friends from Seattle had converted BASIC, a popular mainframe computer programming language, for use on an early personal computer (PC), the Altair. This story sparked her interest in computers and fueled her desire to contribute to making the world a safer and better place.

When she was admitted to the University, she didn’t hesitate to select “Computer Engineering” as her major. She realized that professional exams could enhance her chances of success in the specific IT profession she wanted to focus on. To further her knowledge, she pursued a master’s degree in information technology.

This academic background facilitated her entry into the professional world as an IT Consultant at one of the Big Four audit firms. There, she was able to develop her skills in IT Operations, IT Governance, Risk, and Compliance.

Abiola’s primary goal in any organization she has worked for is to add value and leave the organization better than when she joined.

Leading Large-Scale IT Projects in Power Distribution

In her role as the Deputy General Manager for one of the largest power distribution companies, Abiola led a team of project managers on IT commercial projects. They were responsible for planning, executing, controlling, and operating commercial projects to meet business objectives, regulatory requirements, and health and safety compliance. She oversaw the deployment of end-user smart meters for over 10 million customers across all franchise locations in Nigeria. This enabled the organization to process payments worth $10 billion.

Abiola faced her share of challenges, a major one being when she was appointed to manage one of the biggest projects in the power distribution industry in her home country, Nigeria. The project involved installing prepaid energy meters for Nigerian citizens. Given the national interest in verifying the success of the project and the highly regulated nature of the sector, she had to put the following measures in place:

  • She obtained management and regulatory buy-in for the success of the project.
  • Implemented governance processes around the project by setting policies and procedures in place.
  • Automated manual processes around the installation of meters for citizens to effectively and efficiently deliver the project.
  • Established online real-time reporting of the number of meters installed.
  • She put a feedback mechanism in place for customers to provide their experience to improve performance.
  • Abiola was able to successfully deliver the project within time, scope, and budget.

Aligning Core Competencies with Project Goals

  • Abiola meets individually with team members to discuss their core competencies and strengths. She then acknowledges each strength and explores how these strengths might be applied to the project.
  • She applies individual strengths to achieve the team’s overall goals. She aids her team in understanding each other’s unique personalities and strengths and how these talents unite to create a powerful picture and improve teamwork skills.
  • She assigns team projects based on team members’ strengths.
  • Once the strengths of her team members are recognized, she incorporates these strengths into performance conversations and reviews. This approach makes it much easier to help them set goals based on their core competencies.
  • She assists team members in aligning their strengths with the expectations and responsibilities of their roles. In best-case situations, team members’ strengths will align with expectations. She nurtures and guides individuals to focus on their core strengths and then gives them goals that align with their talents and responsibilities. As a result, she has happier, more committed, and more productive team members.
  • She requests that her organization provide some “strength training” by investing in a course to hone skills that identify and optimize the strengths of her team members.
  • She opens up career-growth opportunities or training for her team. She communicates to her team members that she wants to support them if they have a strength they’d like to develop. This encouragement may motivate team members to actively discover their strengths and do what they need to develop their professional skills.

Remediating IT Control Gaps

Abiola understands the key stakeholders, holds regular meetings with them, and periodically reviews all the IT SOX-related controls to ensure compliance, then works with them to achieve the desired goal.

In a nutshell, her job is to make her organization look great “IT Control – wise” as perceived by the external and internal auditors. The goal is to achieve a 100% IT Controls rating for her organization.

She was able to achieve the above by doing the following:

  • Align all IT control frameworks with industry best practices.
  • Perform IT control readiness for newly deployed applications and infrastructure.
  • Manage stakeholders (control owners, IT directors, and external and internal auditors) by collaborating with them to achieve the desired results.
  • Remediate and close any identified gaps associated with the review of IT controls before they are provided to the external or internal auditors.

Automating Data Collection and Analysis for Compliance

In a fast-paced environment, Abiola believes that effective time management is crucial. She prioritizes tasks, sets clear goals, and uses productivity systems. Minimize distractions, delegate when possible, and avoid multitasking. She has learned to say no to extra commitments, take regular breaks, and review progress regularly.

The Intersection of Technology and Regulation

Abiola holds a firm belief that technology significantly enhances efficiency, precision, and trustworthiness in reporting and fosters communication with regulators and stakeholders. This implies that technology is crucial for strengthening compliance controls, enhancing their effectiveness, and mitigating risks, thereby assisting organizations in consistently meeting their obligations.

Furthermore, technology has elevated the accuracy of compliance by automating the process of data collection and analysis. Automated underwriting systems, which utilize complex algorithms and machine learning, are employed to analyze data and identify potential compliance issues.

The Path to a Conducive Work Environment

The most effective method of goal communication is achieved through direct interaction between first-line supervisors and their subordinates. In the process of formulating performance plans for employees, discussions can be held between supervisors and employees on how the efforts of the employees contribute to the attainment of organizational goals.

Furthermore, by encouraging open communication, recognizing individual strengths and weaknesses, endorsing collaboration, establishing clear expectations, and offering support and resources, a conducive work environment can be created.

Bridging Communication Gaps

Abiola employs the following strategies to ensure effective communication with stakeholders across different levels of the organization:

  • Making Communication a Two-Way Conversation
  • Empathy is key
  • Conducting a Stakeholder Analysis
  • Focusing on Meeting the Needs of Stakeholders
  • Implementing a Consistent Communication Medium
  • Determining the Ideal Channel
  • Keeping Conversations Relevant and Engaging

Continuous Learning

Abiola stays updated with the latest trends within IT controls and compliance by interacting with like-minded professionals, speaking in seminars, and participating in webinars. She also takes up courses that are relevant to her career and consistently checks for new requirements from best practices and regulators, ensuring adherence to them.

Balancing Budget and Technology

Choosing enterprise technology involves a substantial investment. It is crucial to consider the total cost of ownership, which includes licensing fees, implementation costs, maintenance costs, and support costs. Evaluating her organization’s budget is essential to determining the most cost-effective solution for her organization.

The Pillars of a Successful GRC Program

IT governance, risk, and compliance are all likely being managed within the organization in some way already. A GRC program unifies governance, risk, and compliance under a single strategy that aligns the organization’s security and compliance with business objectives.

Key components of this strategy include:

  • Vision and principles
  • Structure and processes
  • Culture and communication
  • Performance and value
  • Risk and compliance
  • Learning and innovation

Structuring Remediation Plans

Once compliance gaps are identified and prioritized, clear and actionable remediation plans are created. These plans should outline specific steps, responsibilities, timelines, and milestones. It is ensured that they align with the organization’s overall compliance strategy.

The Cornerstone of Trust and Accountability

Abiola believes that strong personal and professional values are important for an individual to be seen as trustworthy and genuine by those around them. Over the course of her career, the following aims and ideals have guided her both as an individual and as a professional:

  • Politeness and respect for others: She ensures that she treats everyone, including her superiors, peers, and subordinates, with politeness and respect. This is an essential quality for building positive relationships and a healthy society. She believes in treating others with kindness, consideration, and manners, even in challenging situations.
  • Integrity: She wants people to trust her and hold her accountable for her actions or words. She ensures that she is honest, fair, responsible, and has the moral courage to do the right thing both inside and outside of the workspace. In her opinion, without integrity, an individual will fall short of realizing their full potential.
  • Accountability: To achieve personal and organizational objectives, she understands that she is responsible for her actions, behaviors, and decisions. She also knows that accountability is linked to an increase in commitment to work and employee morale, which leads to higher performance. Hence, accountability is an aim and an ideal that has guided her, especially as a professional.
  • Diligence: She is guided by the biblical quote, “Seest thou a man diligent in his business? He shall stand before kings; he shall not stand before mean men.” As a Christian, she believes in the word of God and understands that if she wants to stand before important delegates and figures in her career, she must be diligent in her work, with no shortcuts.
  • Perseverance: She understands that there will always be points in life when one experiences difficult situations. Hence, she makes sure to persevere through these situations to help her navigate the sometimes frustrating process of working through technical issues, continuing to grapple with tough course material, and completing tasks and projects amidst every possible distraction.
  • Discipline: One important practice she adheres to is discipline. Promoting good discipline at work means that everyone follows the same rules and workplace ethics, in addition to completing their responsibilities regularly. So, she tries as much as possible for her actions to be a great model that others around her can emulate.

The Path to Recognition

Her advice to someone who is just starting their career in this field and aspires to achieve similar levels of excellence and recognition is:

  • “Ask yourself, what do you want to be remembered for within your landscape? Have a target of what you want to achieve in life, and don’t look back.”
  • “Know your stuff and be exceedingly great at it.”
  • “Be yourself; don’t try to impress anyone.”
  • “If you make mistakes, try not to be too hard on yourself; remember that everyone makes mistakes. And if you need help, don’t be ashamed to ask for it. It’s all part of being human!”
  • “Above all, be good and kind to everyone around you.”