SOC Governance Assurance and Performance
Purpose: Provide and enforce SOCs’ governance, legal assurance, financial and non-financial performance monitoring, evaluation and reporting systems, in support of the Shareholder Representative, to ensure alignment with Government’s priorities.
Objectives:
Ensure effective shareholder oversight of SOCs on an ongoing basis by:
- Providing governance and legal systems.
- Developing and maintaining shareholder risk profiles and mitigating strategies.
- Monitoring, evaluating and reporting on the financial and non-financial performance; and proposing intervention measures when required.
SUB-PROGRAMMES
MANAGEMENT
Comprises the office of the Deputy Director-General, which provides strategic leadership and management for the programmes’ personnel
LEGAL
Provides external legal services and support, including transaction and contract management support to sector teams and the commercial activities of SOCs within their portfolio
GOVERNANCE
Develops, monitors and advises on legislative, corporate governance and shareholder management systems for the Department and SOCs in its portfolio. The sub-programme develops and implements risk and compliance management guidelines and systems for shareholder risk
FINANCIAL ASSESSMENT AND INVESTMENT SUPPORT
Analyses SOCs’ capital planning, operational performance, execution of capital programmes and proposed restructuring proposals, and advises on appropriate action
SUB-PROGRAMMES
Governance and Legal Assurance
- Develops standardised indicators for the SOCs.
- Performs governance assurance reviews and reports thereon.
- Develops and facilitates the implementation of governance enhancement initiatives.
- Provides technical assistance to the Minister on board functions.
- Provides governance early warning services.
- Provides legal assurance services.
Risk Profiling and Mitigation
- Develops and facilitates the SOCs’ Group Risk Management Framework.
- Maintains the SOCs’ Group Risk Register (transversal risk register, with cross-cutting risks)
- Coordinates and facilitates the development of the group risk mitigation strategies.
- Provides early warning services to the Shareholder.
- Provides technical inputs supporting compact alignment processes.
- Coordinates special investigations initiated by the Shareholder.
SUB-PROGRAMME
Financial Assessment and Investment Support
- Develop standardised financial assessment guidelines and indicators for SOCs.
- Perform financial reviews and report thereon.
- Assess applications for funding instruments and coordination of authorization thereof.
- Facilitate, support and monitor the implementation of financial sustainability initiatives for the DPE portfolio