SANBS has established risk management as an integral part of all activities and a core capability. Enterprise Risk Management (ERM) contributes to and ensures the continued growth and success of SANBS. Through the ERM process, identified risks and opportunities are evaluated and treated, guided by the Board-approved risk appetite and tolerance levels, ensuring continual prioritisation of responses to risks.

SANBS, being legally mandated to provide blood and blood products, aims to protect itself, its donors and the broader stakeholder base from possible adverse effects of risks that may impact the achievement of its strategic objectives and has accordingly adopted a conservative risk tolerance approach.

The SANBS ERM Framework outlines how risk management is implemented, practiced and maintained across SANBS on a strategic level and how risk management is embedded in all business units ensuring an effective integration of risk management in all business areas.

The Risk, Technology and Information Governance (RTIG) Committee, as delegated by the Board, assumes responsibility for the oversight and governance of risk and opportunity management.

Responsibility for risk and opportunity management is delegated to the Chief Financial Officer and the Senior Manager: Enterprise Risk Management.

SANBS maintains robust values and is committed to achieving full compliance with laws, regulations and relevant standards. The Board through the RTIG Committee approves a Compliance Programme which is supported by a Compliance Management Policy and Manual.

Legal compliance implementation is delegated to the Company Secretary’s office, which office provides monitoring of applicable new and evolving laws and regulations to the Board. On an annual basis, SANBS confirms its scope of laws, regulations and standards of compliance in a regulatory universe, and through its committees assesses its levels of compliance with key prescripts.

Compliance Champions are formally appointed in the various business units and are responsible for all matters relating to compliance management that affect their respective Business Units. A Compliance Management Committee has been established to ensure effective oversight of all compliance-related activities and to act as a platform for information sharing with the Compliance Champions.

Assurance over Compliance is provided by the Compliance Management Function using the Compliance Risk Management Plans (CRMPs) to monitor compliance with relevant laws and legislation.

There are several assurance role players for corporate governance within SANBS. The Audit Committee, as delegated by the Board, exercises oversight on the combined assurance model to ensure that it is applied and incorporates various assurance functions holistically supporting achievement of assurance objectives.

SANBS has adopted a risk-based combined assurance model. It includes all components of combined assurance as recommended by King IV i.e. the integration, coordination and alignment of risk management and assurance processes and services. Combined assurance is implemented in terms of the approved Combined Assurance Framework.

A Combined Assurance Forum, including relevant assurance providers, coordinates combined assurance within SANBS. The Forum is chaired by the Chief Financial Officer (CFO) who in turn reports to the Audit Committee whose authority has been delegated by the Board. Combined assurance is also a key component of SANBS’ risk strategy.