OUR GOVERNANCE

Giving effect to corporate governance / alignment to King IV principles

OUR GOVERNANCE

Giving effect to corporate governance / alignment to King IV principles

EVALUATION AND PERFORMANCE OF THE BOARD | PRINCIPLE 9 applied

The Board ensures that the evaluation of its own performance, and that of its committees, its chair and its individual members, supports continued improvement in its performance and effectiveness.

Board evaluations

  • The Board ensures that assessments of the individual directors, the Chairperson of the Board, the Board as a whole and the Board committees are conducted to support continued improvement in performance and effectiveness. Assessments are conducted by an external company every 2 years, with the last independent assessment completed during 2021. Overall Board performance and that of its committees was considered effective. The Board is satisfied that the evaluation process and the action plans in place will continue to improve its performance and effectiveness
  • Every alternate year, the Board schedules in its yearly work plan an opportunity for consideration, reflection and discussion of its performance and that of its committees, its chairperson and its members as a whole Board
  • The Nominations committee has considered service providers which can undertake the next Board evaluations that are scheduled to take place in the latter part of 2023.

EVALUATION AND PERFORMANCE OF THE BOARD | PRINCIPLE 9 applied

The Board ensures that the evaluation of its own performance, and that of its committees, its chair and its individual members, supports continued improvement in its performance and effectiveness.

Board evaluations

  • The Board ensures that assessments of the individual directors, the Chairperson of the Board, the Board as a whole and the Board committees are conducted to support continued improvement in performance and effectiveness. Assessments are conducted by an external company every 2 years, with the last independent assessment completed during 2021. Overall Board performance and that of its committees was considered effective. The Board is satisfied that the evaluation process and the action plans in place will continue to improve its performance and effectiveness
  • Every alternate year, the Board schedules in its yearly work plan an opportunity for consideration, reflection and discussion of its performance and that of its committees, its chairperson and its members as a whole Board
  • The Nominations committee has considered service providers which can undertake the next Board evaluations that are scheduled to take place in the latter part of 2023.

APPOINTMENT & DELEGATION TO MANAGEMENT | PRINCIPLE 10 applied

The Board ensures the appointment of, and delegation to management contributes to role clarity and the effective exercise of authority and responsibilities.

Governing Structures and Delegation

APPOINTMENT & DELEGATION TO MANAGEMENT | PRINCIPLE 10 applied

The Board ensures the appointment of, and delegation to management contributes to role clarity and the effective exercise of authority and responsibilities.

Governing Structures and Delegation

Governance of functional areas

RISK GOVERNANCE | PRINCIPLE 11 applied

The Board governs risk in a way that supports the SANBS in setting and achieving its strategic objectives.

Summary of the arrangements for governing risk and opportunities

  • The Risk, Technology and Information Governance (RTIG) committee assumes responsibility for the governance of risk and opportunity management
  • RTIG, on behalf of the Board, governs risk by setting the direction for how the SANBS’ risk and opportunity management should be approached and addressed
  • Risk function outsourced to secure the expertise
  • RTIG quarterly reporting
  • Risk appetite dashboard includes both risks and opportunities and is set to ensure that the company achieves its strategic and financial objectives
  • Enterprise-wide Risk Management Framework and policy
  • Combined Assurance over key risks

Key areas of focus during the reporting period



  • RTIG Committee Report

Measures taken to monitor risk and opportunity management and how the outcomes were addressed

  • Quarterly reports to RTIG from management and from the RTIG to the Board
  • Oversight of the Strategic Risk Register and analysis of causes and responses during an annual risk session between the Board and exco

Planned areas of future focus



  • RTIG Committee Focus 2023

Governance of functional areas

RISK GOVERNANCE | PRINCIPLE 11 applied

The Board governs risk in a way that supports the SANBS in setting and achieving its strategic objectives.

Summary of the arrangements for governing risk and opportunities

  • The Risk, Technology and Information Governance (RTIG) committee assumes responsibility for the governance of risk and opportunity management
  • RTIG, on behalf of the Board, governs risk by setting the direction for how the SANBS’ risk and opportunity management should be approached and addressed
  • Risk function outsourced to secure the expertise
  • RTIG quarterly reporting
  • Risk appetite dashboard includes both risks and opportunities and is set to ensure that the company achieves its strategic and financial objectives
  • Enterprise-wide Risk Management Framework and policy
  • Combined Assurance over key risks

Key areas of focus during the reporting period

  • RTIG Committee Report

Measures taken to monitor risk and opportunity management and how the outcomes were addressed

  • Quarterly reports to RTIG from management and from the RTIG to the Board
  • Oversight of the Strategic Risk Register and analysis of causes and responses during an annual risk session between the Board and exco

Planned areas of future focus

  • RTIG Committee Focus 2023

INFORMATION AND TECHNOLOGY GOVERNANCE | PRINCIPLE 12 applied

The Board governs technology and information in a way that supports the SANBS setting and achieving its strategic objectives.

Summary of the arrangements for governing information and technology

  • The Risk, Technology and Information Governance (RTIG) committee assumes responsibility for the governance and direction of technology and information
  • The RTIG is responsible for governance of the SANBS’ information technology investment requirements
  • Formalised information and technology governance policies and frameworks
  • Implementation delegated to CIO via CEO
  • Combined Assurance over key information and technology risks

Key areas of focus during the reporting period


  • RTIG Committee report

Measures taken to monitor information and technology and how the outcomes were addressed

  • Quarterly reports to RTIG from management and from the RTIG to the Board
  • RTIG oversees implementation of Strategic Technology Projects

Planned areas of future focus


  • RTIG Committee focus 2023

INFORMATION AND TECHNOLOGY GOVERNANCE | PRINCIPLE 12 applied

The Board governs technology and information in a way that supports the SANBS setting and achieving its strategic objectives.

Summary of the arrangements for governing information and technology

  • The Risk, Technology and Information Governance (RTIG) committee assumes responsibility for the governance and direction of technology and information
  • The RTIG is responsible for governance of the SANBS’ information technology investment requirements
  • Formalised information and technology governance policies and frameworks
  • Implementation delegated to CIO via CEO
  • Combined Assurance over key information and technology risks

Key areas of focus during the reporting period


  • RTIG Committee report

Measures taken to monitor information and technology and how the outcomes were addressed

  • Quarterly reports to RTIG from management and from the RTIG to the Board
  • RTIG oversees implementation of Strategic Technology Projects

Planned areas of future focus


  • RTIG Committee focus 2023
Principle 13 - Compliance Governance
Principle 13 - Compliance Governance

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  • (011) 761-9000
  • customerservice@sanbs.org.za

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Ⓒ 2022 - All Rights Are Reserved. SANBS Integrated Report. Created by Joshero (Pty) Ltd.

Head Office

  • 1 Constantia Boulevard Constantia Kloof, Roodepoort, 1709
  • (011) 761-9000
  • customerservice@sanbs.org.za

Main Links

Ⓒ 2022 - All Rights Are Reserved. SANBS Integrated Report. Created by Joshero (Pty) Ltd.