SAMSA Annual Report 2015 - 2016

Enterprise Risk Management Report
CHAPTER 05
ABOVE BOARD
Board and Committee Meetings
ABOVE BOARD
Enterprise Risk Management Report
CHAPTER 05
BOARD AND COMMITTEE
MEETINGS
2015-16 SAMSA ENTERPRISE
RISK MANAGEMENT REPORT
AUDIT AND RISK COMMITTEE
MEMBER 28/09/2015 23/10/2015 15/02/2016 TOTAL ATTENDANCE
Mr. Mervyn Burton ü ü ü 3
Ms. Sekabiso Molemane ü ü ü 3
Cmdr. Tsietsi Mokhele * ü * 1
Ms. Adila Osman * ü ü 2
Mr. Siyakhula Simelane * * ü 1
REMCO
MEMBER 22/10/2015 21/01/2016 12/02/2016 09/03/2016 TOTAL ATTENDANCE
Mr. Frederick Jacobs ü ü ü ü 4
Ms. Nomsa Cele ü * ü * 2
Dr. Michael Hendricks ü * * ü 2
The entity’s key risks are managed, monitored and updated on a regular basis so that timely and appropriate mitigating plans are put in
place as new risks emerge. The SAMSA Enterprise Risk Management framework aligns with industry best practice, 2013 Committee of
Sponsoring Organisations of the Treadway Commission (COSO), International Organisation for Standardisation (ISO) 31000, King III and
the global leading practice.
An implementation tool for the SANS/ISO 31000 Standard is the process guide called Management of Risk: 2009 AXELOS (MoR),
which will become the preferred risk management framework in the organisation. Management and members of the Risk Management
Committee received briefing notes on the framework and a description of its ability to deliver on requirements for a formal risk
management practice required by National Treasury prescripts. The MoR guidance, apart from aligning with SANS/ISO 31000, applies
globally recognised leading good practice principles on corporate governance whilst maintaining an implementation approach that is
flexible and can be tailored for specific situations.
As part of embedding MoR, a process maturity assessment based on the framework has been conducted and a maturity road map
considered for implementation in the new financial year 2016 - 17. Part of this implementation is an adoption of the documentation
recommended by the guidance in terms of the Risk Register, Issue Register and the Risk Progress Report. These formats were presented
to the Risk Management Committee for adoption as a practice.
The Risk Management Committee Charter has been appropriately aligned with the expected functions of the committee in relation
to the formal governance structures of the entity. This has meant aligning roles defined in the charter template with the formal
organisational roles.
SAMSA Overall Heat Map and Top Risks Table
Ms. Ndileka Nobaxa ü ü ü ü 4
Ms. Hazel Devraj ü ü ü ü 4
Cmdr. Tsietsi Mokhele * * * * 0
FINANCE AND IT COMMITTEE
MEMBER 08/10/2015 04/02/2016 TOTAL ATTENDANCE
Dr. Michael Hendricks ü ü 2
Mr. Mervyn Burton ü ü 2
Cmdr. Tsietsi Mokhele * ü 1
5.00
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0
The organisation heat map reflects a risk position above risk
tolerance levels as at the end of the quarter four of 2015/16
financial year. The entity’s key risks have been managed,
monitored and updated on a half yearly basis so that timely
and appropriate mitigating plans are put in place as new risks
emerge.
However in the 2016/17 financial period this frequency will
increase to bimonthly to ensure that risk alertness is maintained
over the environment driving those risks. The implemented
controls are beginning to show effectiveness as the entity
risk position has started to improve as reflected by the heat
map. The overall risk profile of SAMSA is tending towards the
acceptable level (within our risk tolerance levels).
Legend ü Present
* Absent with apology
0 1.00 2.00 3.00 4.00 5.00
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