The Board has six (6) designated committees established to address both compliance issues and improve the efficiency of decision making processes. The committees, who have delegated authority, are responsible for making decisions for final approval by the Board on matters ranging from, inter alia, finances, audit, risk, remuneration, ethics and projects approval.
The following Committees have been established to assist the Board in discharging its mandate:
1 | THE GROUP AUDIT AND RISK COMMITTEE (GARC)
Group Audit and Risk Committee is responsible for providing assurance to the Board and oversight on the Group’s risk management framework to ensure that business risk is adequately mitigated against and manage:
2 | THE PROJECTS REVIEW COMMITTEE (PRC)
This committee is responsible for ensuring overall projects governance and reviews and makes recommendations to the Board on projects to be implemented within SIOC-cdt’s beneficiary communities;
3 | THE REMUNERATIONS, HR AND PERFORMANCE MANAGEMENT COMMITTEE (REM COM)
This committee is mandated to oversee human resources matters, review the Trust’s performance management framework and to review and make recommendations to the board on the remuneration of both staff and Trustees;
4 | THE NOMINATIONS COMMITTEE (NOM COM)
The Nominations Committee is reponsible for providing advice to the Board on the appointment and removal of Trustees and ensuring that suitably qualified persons are appointed to the Board and at management level to ensure a proper mix of skills, experience and expertise across the organisations;
5 | THE SOCIAL, ETHICS TRANSFORMATION COMMITTEE (SET)
This committee is the watchdog for ethical conduct across the Group and oversees the integration of ethical conduct and culture within the organisation; and
6 | THE INVESTMENT REVIEW COMMITTEE (IRC)
The Investments Review Committee is an advisory Committee set up to provide technical support to management in reviewing potential investments and areas for potential investment by the Trust and to make the relevant recommendations to the Board in line with the approved investment strategy.
The above Committees have Terms of Reference (TOR) approved by the Board setting out their respective mandates and extent of their powers/authority. These TORs are reviewed on an annual basis to ensure relevance to the mandate of the relevant committee and to effect any changes required by changes in, inter alia, the business strategy, funding, legislative developments, organisational change etc.
While the Board has delegated some of its powers to designated committees, the Board has reserved certain rights and duties in line with the Trust Deed requirements and the approved delegation of authority framework.