The Board of Trustees considers corporate governance as a key pillar in the management of the Fund and accountability to the Sponsor and members. Therefore it has inculcated a corporate culture embedded on value system to drive the behavior and decision making processes within the Fund. The Fund at all times adopts the use of established best practice guidelines to achieve highest standards of compliance with the law, whilst ensuring the Fund is managed to satisfy the interests of members and the Sponsor.
Code of Conduct
In order to enable the Board to operate effectively and in the best interests of the Fund, all Trustees are required to observe the rules and regulations governing the Conduct of Trustees as contained in the Board manual.
Our whistle-blowing policy,
The Fund is committed to high standards of ethical, moral and legal business conduct. The whistle-blowing policy was formulated to provide a framework to guide the impartial handling of feedback and report on any non-compliance.
Succession planning is a process of systematically identifying, assessing and developing talent and capacity to ensure continuity in key leadership positions within the organisation. A succession plan is designed to identify and prepare potential candidates to take over key positions as they become available. The Board has put in place a succession plan for the Fund to ensure a smooth transition with less disruption of operations in case of positions becoming vacant. This plan encompasses both the board and key management positions.
Corporate Social Responsibility (CSR)
The Fund recognizes the importance of giving back to society and is committed to contributing to socio-economic development of the country. The cornerstone of our sustainability and commitment is through various engagements with stakeholders whether directly or indirectly through various activities that are planned for each year. The Fund is committed to ethical conduct and fairness in all its activities.
The Fund has identified the following CSR activities and initiatives;
As part of the CSR long term partnership program, the Fund has allocated funds towards the renovation and refurbishment of the Burns Unit at the Kenyatta National Hospital. The Fund is also a key sponsor of the burns awareness walk in conjunction with the Burn Society of Kenya which is held annually.
Statement of Compliance and Conflict of Interest
Conscious of its responsibilities to members and other stakeholders ,the Board of Trustees issues a statement at the end of each year confirming that they have complied with the law, conducted their affairs in accordance with the best principles and practices of corporate governance and that to the best of the knowledge of the Board and management, no person, employee or agent acting on behalf of the Fund with the knowledge or authority of the Board or management, committed any offence under the Prevention of Corruption Act or indulged in any unethical behavior in the conduct of the Fund’s business, or been involved in money laundering, or any practice or activity contrary to national laws or international conventions.
All the Trustees are expected to declare at the beginning of each board meeting, any circumstances which may give rise to any actual or potential conflict of interest. In addition every year all the Trustees submits the annual conflict of interest declaration.
The Trustees are committed to a process of Enterprise Risk Management that encompasses identification and management of strategic and operational risks through a structured, systematic, proactive and integrated process. This risk management framework enables Fund to focus in a comprehensive and holistic manner on all risks that faces the Fund. The Trustees have put in place a risk management policy that guides the processes involved in the risk management as well as specify the responsibilities of the different parties involved. Risk management is also an integral part of the strategic plan development process.