Specified Entities Directory

Governance, Risk & Compliance (GRC)

Assessing and facilitating the development of appropriate corporate governance structures, frameworks, guidelines, standard operating procedures (SOPs), etc. in collaboration with relevant stakeholders and ensuring good corporate governance, effective risk management, compliance culture and practices in SIGA and the Specified Entities. These are pursued adhering to the highest standards of excellence and best practices, and in compliance with relevant laws, policies, and regulations.

Rules and regulations book. Law, rules and regulations concept.

Functions

  • 01.
    Develop effective mechanisms to build reliable database on the Specified entities, to facilitate assessment and accurate reporting on the status of governance, risk management and compliance of the SEs with relevant laws and regulations.
  • 02.
    Facilitate and ensure Boards are adequately prepared for their roles and responsibilities, appreciate the Code of Corporate governance and their performances are properly evaluated annually, mid-term and at the end of their term.
  • 03.
    Participate in the Performance Contract Negotiations, ensuring governance, risk management and compliance issues are adequately covered.
  • 04.
    Research and keep SIGA and the SEs abreast with developments and best practices in corporate governance, risk management and compliance with relevant legal, audit, ethical, regulatory and policy guidelines and standards, among others.
  • 05.
    Provide capacity-building support to the Specified Entities in enhancing their respective mandates and strengthening their governance structures and processes, including risk management and compliance culture, drawing on the Code of Corporate Governance.
  • 06.
    Conduct periodic monitoring to assess adherence to good governance practices, including effective risk management and compliance with relevant laws and regulations vis-a-vis corporate mandate and strategic plans.
  • 07.
    Facilitate the development of mechanisms for SIGA to advise government on the appointment and removal of Chief Executive Officers and Board members, as per Section 4(j) of SIGA Act (Act 990), for effective performance of the SEs.
  • 08.
    Prepare governance, risk management and compliance reports and facilitate the preparation of the Annual Governance and Institutional Performance Report on SEs as per Section 4(e) of Act 990, for strategic decisions-making.