KCHC-AR-2023 Final Signed - Flipbook - Page 48
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.
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.
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 personal 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 to the financial statements.
Risk management
The Charity’s 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 FAIC 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
improvements, and allocating a calculated current
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and residual risk exposure 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.
During the year, the Board and the Committee
monitored the top three risks set out below. This
included 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 impact of strikes and
staff shortages. Strikes will reduce footfall during
traditional working hours which impacts our on site
supporter recruitment programme. There is also
a high risk of delivery to grants projects. We will
seek to address this by gathering insight data to
evidence any medium to long term impact.
2 UK economy continues to be under stress with
significant rise in inflation and cost of living. This
is also likely to impact the future for fundraising in
the short to medium term which remains uncertain.
The Charity continues to seek to mitigate this
through the implementation of a wide portfolio of
fundraising activities through to differing audiences
and through different channels.
3 We expect financial markets to continue to
be volatile in the short to medium term as the
consequences of the banking crisis and the
continuation of the Ukraine and Russia conflict
affect world economies. Consequently, charity's
investment portfolio declined significantly in value
during the financial year. The investment strategy
and performance is being closely monitored and
reviewed to ensure that we optimise the income
return and capital value.
The Board is satisfied that systems are in place and
control improvements are underway to mitigate the
Charity’s exposure to risk. Furthermore, it is committed
to keeping the identification and mitigation of risk
under continual review.
