Committees of The Board


Committees of the Board - Principle 8 Applied

The Board ensures that its arrangements for delegation within its own structures promote independent judgement and assists with the balance of power and the effective discharge of duties.

Board Committee Focus 2023 and Outlook for the Year Ahead 2024

Risk, Technology and Information Governance Committee

Declaration: The committee has executed its responsibilities in accordance with an approved mandate.

Committee purpose and how it contributes to value creation

The overarching role of the Committee is to assist the Board in overseeing that the following areas support the Company in setting and achieving its strategic objectives:

  • The governance of risk management, including the system of compliance risk governance
  • Technology and Information governance
Members of the committee during the period 1 April 2022 to 31 March 2023
  • Faith Burn (Chair)
  • Ansie Ramalho (until 27 November 2022)
  • Caroline Henry
  • Gary Leong
  • Lerato Molefe (from 19 November 2022)
  • Phindile Mthethwa (from 27 November 2022)
  • Ravi Reddy (Executive Director)
  • Dr Karin van den Berg (Executive Director)
Key focus areas and value-creating activities for the period under review
  • Monitored the continued growth in maturity of enterprise risk management: Enterprise Risk Management Policy, Framework and Risk Appetite and Tolerance, Risk monitoring report (incl emerging risks, opportunities, Business Continuity Plan (BCP)
  • Noted the outcome of the Business Continuity Management (BCM) project being the development of Business BCP for individual business areas, recognising both the operational variability and geographic dispersion of the operating sites. In terms of multiple risks materialising, the individual BCPs would be able to deal with the multiplicity of risks, with elevated coordination of all structures of Management
  • Reviewed the IT Risk Register, Cyber-security Report, Investments, BECS update (including causes for delays, budget extensions and decisions required in response to ongoing delays)
  • Provided input and support to management on Strategic Projects – BECS implementation and change management, the Modernisation progress of the ERP system, drone project, inventory optimisation project
  • Insurance programme renewal review
  • Proactive tracking of changes in the regulatory environment and overseeing the need to appoint external consultants to fill the positions of Compliance and Ethics Officer positions, while these posts remained vacant
  • Continued enhancement of procurement processes and contract management
  • Monitored the Strategy Level Risk Register and emerging risks
  • Considered the Information privacy and data protection obligations on SANBS – including the creation of internal and external privacy policies, with the latter being drafted for public-facing interfaces e.g., SANBS website
Future focus areas 2024

The Committee will remain focused on overseeing the management of the risks associated with:

  • Strategic projects, with an emphasis on the BECS go live and BECS phase II, the Order-to-Collect process and the Procure-to-Pay process, and the ERP Modernisation next phases
  • Forex losses and exposure - Foreign Exchange Contracts as a Risk Management Tool
  • The revised Strategic Risk Reporting and the continuous monitoring of the risks this may reveal