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Governance
The Board recognises the benefits to the Charity of
taking further actions to establish a more diverse
and inclusive organisation in addition to increasing
the diversity of the Board. There are actions in place
within the Charity to embed the principles of equality,
diversity and inclusion throughout the Charity’s people
strategy and processes.
improvements, and allocating a calculated current and
residual risk score, based on impact and likelihood
of each risk causing a loss to the Charity. The detail
contained in the risk register is then grouped and
summarised into a risk map, identifying whether each
risk is rising, stable or falling, allowing the Board to
focus its attention on the high and/or rising risks.
This consists of implementing a ten-point plan to
ensure that our staff, volunteers and those applying
for such roles are treated fairly and with respect,
are recognised as individuals and valued for their
contribution. In addition, we wish to ensure that they
will all receive fair access to training, development,
reward and progression opportunities.
During the year, the Board and the Committee
monitored the top three risks set out below, including
an evaluation of the changes in risks which had been
affected by the COVID-19 pandemic. This includes how
risk-mitigation plans needed to be adapted to address
the changing influences on the risks arising from
external changes.
1 Operational pressures continue for the NHS,
including King’s, with the importance of the
recovery plan as well as the continuing impact
of the pandemic and staff shortages. This has
significantly impacted the Charity’s ability to
maximise our strategic impact and develop longerterm grant-making plans. We will seek to address
this through working closely with the King’s
leadership (both executive and clinical) and align,
where practicable, our grant-making plans with
those of King’s. We have also developed smaller
grant propositions across a range of the King’s
services in line with our grant-making policy.
Pay policy for senior staff
The salary levels of senior staff are approved by
members of the Governance, Nominations and
Remuneration Committee and are set based on reviews
of comparable positions in other London-based
voluntary organisations of similar scale and complexity.
The Charity also makes pension contributions up to
a defined level into pension funds. Reviews of salary
levels are carried out annually and the annual inflation
award is determined using relevant benchmarking
information. The remuneration of the Chief Executive
is determined by the Chair in conjunction with the
Vice-Chair and the Treasurer. The key management
personnel pay disclosures are included in Note 4.5 of
the financial statements.
Risk management
The Charity’s strategic risk register includes the
major risks to which the Charity is exposed. The
Board is provided with the Charity’s risk register at
every meeting and updates on risks are provided
through various agenda items. The Finance, Audit and
Investment Committee is responsible for a detailed
review of the risk register on a quarterly basis, including
a deep-dive review of a specific risk at each meeting.
It is also responsible for reviewing the effectiveness of
the process of risk management.
The risk register is structured along best practice
lines, identifying the risks, the Board’s risk appetite,
existing mitigating controls and proposed control
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2. Whilst NHS charities received tremendous support
from the public during the COVID-19 pandemic,
the future for fundraising remains uncertain in
the medium term due to the emergence of other
major causes arising from macro economic and
geopolitical events such as the significant rise
in inflation and cost of living affecting potential
supporters. The Charity seeks to mitigate this
through the implementation of a wide range of
fundraising activities and the continuous drive to
offer the public new ways to support King’s.
3. We expect financial markets to continue to
be volatile in the short to medium term as the
consequences of the pandemic, Brexit and the
more recent Ukraine and Russia conflict affect
world economies. Whilst the Charity’s investment
portfolio rose in value during the financial year
there remains significant uncertainty about the
impact of these changes in the short to medium
term. The investment strategy and performance
monitoring processes are discussed elsewhere in
this report.
