GovernanceThe Board recognises the benefits to the Charity oftaking further actions to establish a more diverseand inclusive organisation in addition to increasingthe diversity of the Board. There are actions in placewithin the Charity to embed the principles of equality,diversity and inclusion throughout the Charity’s peoplestrategy and processes.This consists of implementing a ten-point plan toensure that our staff, volunteers and those applyingfor such roles are treated fairly and with respect,are recognised as individuals and valued for theircontribution. In addition, we wish to ensure that theywill all receive fair access to training, development,reward and progression opportunities.Pay policy for senior staffThe salary levels of senior staff are approved bymembers of the Governance, Nominations andRemuneration Committee and are set based on reviewsof comparable positions in other London-basedvoluntary organisations of similar scale and complexity.The Charity also makes pension contributions up toa defined level into personal pension funds. Reviewsof salary levels are carried out annually and theannual inflation award is determined using relevantbenchmarking information. The remuneration ofthe Chief Executive is determined by the Chair inconjunction with the Vice-Chair and the Treasurer.The key management personnel pay disclosures areincluded in Note 4.5 to the financial statements.Risk managementThe Charity’s risk register includes the major risks towhich the Charity is exposed. The Board is providedwith the Charity’s risk register at every meeting andupdates on risks are provided through various agendaitems. The FAIC is responsible for a detailed reviewof the risk register on a quarterly basis, including adeep-dive review of a specific risk at each meeting. It isalso responsible for reviewing the effectiveness of theprocess of risk management.The risk register is structured along best practicelines, identifying the risks, the Board’s risk appetite,existing mitigating controls and proposed controlimprovements, and allocating a calculated current48S U P P O R T K I N G S .O R G .U Kand residual risk exposure score, based on impact andlikelihood of each risk causing a loss to the Charity. Thedetail contained in the risk register is then grouped andsummarised into a risk map, identifying whether eachrisk is rising, stable or falling, allowing the Board tofocus its attention on the high and/or rising risks.During the year, the Board and the Committeemonitored the top three risks set out below. Thisincluded how risk mitigation plans needed to beadapted to address the changing influences on the risksarising from external changes.1 Operational pressures continue for the NHS,including King’s, with the impact of strikes andstaff shortages. Strikes will reduce footfall duringtraditional working hours which impacts our on sitesupporter recruitment programme. There is alsoa high risk of delivery to grants projects. We willseek to address this by gathering insight data toevidence any medium to long term impact.2 UK economy continues to be under stress withsignificant rise in inflation and cost of living. Thisis also likely to impact the future for fundraising inthe short to medium term which remains uncertain.The Charity continues to seek to mitigate thisthrough the implementation of a wide portfolio offundraising activities through to differing audiencesand through different channels.3 We expect financial markets to continue tobe volatile in the short to medium term as theconsequences of the banking crisis and thecontinuation of the Ukraine and Russia conflictaffect world economies. Consequently, charity'sinvestment portfolio declined significantly in valueduring the financial year. The investment strategyand performance is being closely monitored andreviewed to ensure that we optimise the incomereturn and capital value.The Board is satisfied that systems are in place andcontrol improvements are underway to mitigate theCharity’s exposure to risk. Furthermore, it is committedto keeping the identification and mitigation of riskunder continual review.
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