In addition to Directors’ attendance at meetings and review of relevant materials provided by Management during the year, they attended professional training to enhance their skills and knowledge as set out below:
International Labour Organisation Conference (Geneva, Switzerland)
27 May–11 June 2022
Esami Training- Proactive Management
The training was attended by the 4 Workers Representatives on the Board and covered modern proactive management which concerns the shifting of management thinking and practice and the evolution of management from the industrial revolution that is the 19th century to date.
The main topics covered were:
Balanced Scorecard Training
Board and Management Strategy Session
17–19 February 2022
The Board reviewed the Fund’s performance management system and identified areas for improvement and alignment to the organisation’s agility and the Fund’s main purpose, which is to enable members to meet their social security needs.
The focus of this training was:
As part of the Continuous Professional Development Programme, the Board members from time to time receive presentations from senior executives in the Fund on significant matters. The Fund also arranges appropriate regional branch visits and seminars covering the Fund’s operations, the industry and governance matters for the Directors to facilitate their understanding of the Fund business and risks associated with the Fund’s operations.
The Board and Management also periodically meet to discuss the strategy of the Fund and how best it can be aligned to the needs of the members.
Continuous development of the Board and Management remains a key area in a bid to improve corporate governance. In the year under review, the Board, EXCO together with the Internal Audit, Risk and Legal and Board Affairs Department were trained in Integrated Reporting and Combined Assurance.
This has enhanced the level of reporting by Management to the Board, thus strengthening leadership capability and focusing on strategic issues.
The Assurance Departments have also devised a work plan to strengthen collaboration of the assurance functions in executing their assurance roles, but at the same time not impairing their independence.