Board Committees

Board committees are formed when it is efficient or necessary to facilitate effective decision-making. Committees focus on specific areas and take informed decisions within the framework of delegated authority and make specific recommendations to the Board on matters in their area of purview. The board’s present standing committees are:

 

a) Risk & Audit Committee

 

The Committee’s responsibilities include;

  • Approve risk management policies
  • Identify new risks and monitor known risks
  • Approve risk mitigation strategies
  • Monitor implementation of risk management aspects of strategy
  • Monitor the internal audit function
  • Review results of internal audit and make recommendations on required actions
  • Review the half year and end year annual statements before submission to  the board

    Risk & Audit Committee members

  1. Kosgey Kolil –      Chairman
  2. Imelda Bore
  3. Wilson Kimutai
  4. Vincent Ochieng

 

b) Strategy, Finance and Investment Committee

 

The Committee’s responsibilities include;

 

  • Review and make recommendations to the board on the overall strategy of the Fund.
  • Monitor the execution of the strategy by management, except for those aspects more appropriately covered by other committees.
  • Review the performance of the Fund in meeting its strategic objectives.
  • Consider and make recommendations to the board concerning new strategic initiatives, alliances and potential partnerships.
  • Consider and make recommendations on the annual budgets for the Fund.
  • Monitor performance against budgets on a quarterly basis.
  • Review and approve any extraneous budget requests.
  • Review and make recommendations to the board on the investment policies standards and procedures.
  • Monitor portfolio performance and implementation of investment strategies.
  • Monitor the performance of the fund managers and take any necessary actions to ensure compliance with the investment policies and regulatory requirements
  • Report to board on quarterly basis on investment performance of the Fund.
  • Review and make recommendations on new investment opportunities.
  • Conduct an analysis and advice the board on overall financial trends in the market.
  • Review and advice the board on the appointment of investment managers, custodians and bankers.

 

Strategy Finance & Investment Committee members

  1. Wilson Kimutai   – Chairman
  2. Eng. Jared Othieno
  3. Zilpa Ayara
  4. Johnstone Sakwa

 

c) Governance, HR & Compensation Committee

 

The Committee’s responsibilities include;

  • Oversee procurement activities.
  • Ensure compliance with any relevant procurement legislation.
  • Review and approve procurement plans and policies.
  • Monitor compliance with all relevant laws and regulations
  • Approve all governance policies and procedures
  • Make recommendations on any changes to governance structure
  • Monitor implementation of governance aspects of strategy
  • Approve compensation policies and procedures
  • Conduct the hiring and performance evaluation of the CEO
  • Conduct and oversee long-term succession planning for Senior  Management and the Board of Trustees
  • Review any changes to HR structure or policies proposed by the CEO
  • Monitor implementation of HR and organizational aspects of strategy.

 

Governance, HR & Compensation Committee members

  1. David Monandi –        Chairman
  2. Zilpa Ayara
  3. Imelda Bore
  4. Vincent Ochieng

 

d) Project Implementation Committee

 

The Committee’s responsibilities include;

  • Overseeing the implementation of the Project in accordance with the directives and approvals of the Board.
  • Monitoring the progress of the implementation of the project especially with regard to:
    • Approved specifications;
    • Program/schedule management;
    • Expenditure/budget and;
    • Compliance with statutory and building regulations.
  • Receiving and reviewing monthly reports prepared and submitted by the design team.
  • Ensuring that appropriate mechanisms are put in place to ensure close cooperation amongst the consultants involved in the implementation of the Project.
  • Providing necessary advice, guidance and support to the Project Manager  and the other consultants on all project related matters to ensure that the project is well implemented.
  • Reporting on quarterly basis to the Board of Trustees on matters related to the implementation of the Project.
  • Coordinating the flow of information from the Board to the Project Manager, contractor and the other consultants.
  • Making recommendations and seek approval from the Board on matters that it deems require approval from the Board.
  • Approving use of Prime Cost Sum provided in the bills of quantities.
  • Approving variation of specs that is deemed necessary for the project’s quality in line with the procurement policy.

 

Project Implementation Committee members

    1. Johnstone Sakwa Chairman
    2. Jared Othieno
    3. Kosgey Kolil
    4. David Monandi