Operational (through GC) 1 3 6 Effective governance procedures backed up by regular reports from committees and staff. Publish FIMT objectives, outcomes and priorities with eligibility & assessment criteria; be transparent where possible; ensure consistent use of assessment criteria, scoring ranges and outcomes CE Staff turnover and or unexpected absence resulting in and loss of corporate knowledge 1 4 8 Exec Team is directly employed under contract requiring notice to leave. All other services delivered via support contracts with organizations not individuals. Informal arrangement with Alium for Interim CE at 48 hours’ notice Retention – review remuneration annually (Mar 16) Resilience – upskill and cross-train Exec Team (ongoing) Staff healthcare plan to be considered as part of the 2016 Remuneration paper to the Board (Mar 16) CE Staff overstretch resulting in failure to cope with workload 2 2 6 Workload monitored by CE with reallocation or postponement if necessary. CE IT equipment failure (including virus) or breakdown 2 2 6 Minimal equipment is held by FiMT, IT infrastructure and support are provided by ABF-TSC and/or cloud-based. CE Cyber attack 1 4 8 IT services provided by ABF-TSC; FiMT fully compliant with their rules. On-line banking with Barclays Business. Office productivity (Office 365), financial management system (Xero) and CRM (MS Dynamics) will all be cloud-based by mid-2016. Upgrade of procedures in line with Government best practice required and was implemented at end-2015 CE Financial (through FiC to GC) 1 4 8 Processes in Regulations. BACS payments require two signatures. Delegation and authorisation levels in place. Record in Board and Grants Committee minutes of all grants made and amount awarded, projects reviewed regularly to ensure performance and delivery is being achieved. CE
Whistle-blowing and anti-fraud policies in place. Annual audit. Fin Cont provided by Your Right Hand. Financial Management Handbook in place, reviewed by auditor Sayer Vincent. Failure to meet HMRC tax and VAT requirements 1 3 6 Financial policy and procedures provided by Fin Cont and Auditors, with FIC support. Annual report from Fin Cont, FIC and appointed auditors on services provided. CE 1 2 4 Grant drawdown monitored via 3-monthly management accounts, including cash flow forecast, and coordination with Grants Committee CE Inadequate budgetary control 1 2 4 Budget is monitored through 3-monthly management accounts, which provide visibility of cash flow, investment income, and grant expenditure, through Xero financial system, with quarterly reporting to the Board through the FIC. CE Inadequate financial management 1 3 6 Fin Cont provided by Your Right Hand. CE Negative return on plan for investments 2 4 12 Quarterly report to Board on investment performance and 6-monthly meetings with both investment managers. Maintain investment expertise on FIC Investment expertise through YRH 5 year formal review of investment strategy aligned to portfolio and manager performance due Spring 2017 Develop a control that flags when expected returns on which planned spend has been based is less than anticipated. Risk reviewed by FIC on Oct 15. CE Governance (through GC) Unexpected loss of key people such as Chairman or CE 1 3 6 Deputy Chairman role created Informal arrangement with Alium for Interim CE at 48 hours’ notice To be discussed regularly at GC meetings and to be exposure at Board meetings. CE Board continuity and skills 1 3 6 Directors selected for experience and knowledge relevant to FIMT needs Standing item for GC meetings and to be reported at Board meetings biannually, including Chairman succession. CE
Key ABF-TSC Army Benevolent Fund – The Soldiers’ Charity DPO Data Protection Officer FIC Finance and Investment Committee FM Finance Manager FiMT Forces in Mind Trust GC Governance Committee GCC Grants and Commissioning Committee HR Human Resources M&C Marketing & Communications MAA Memorandum & Articles of Association SLA Service Level Agreement TD Trust Deed