OUR GOVERNANCE

Board activities 2020/2021 and outlook for 2022

Business Perspective	Key Issue(s) Assessed	Broad Strategic Intervention(s)	Definition of Success	Position in 2019/2020	Position in 2020/2021
CUSTOMER	Customer experience (pain points due to data quality and manual processes) Inadequate engagement with customers across the life cycle	Ubiquity in customer services channels Increased self-service Product Innovation	95% customer satisfaction	88%	89% Service quality has improved across all channels

Business Perspective	Key Issue(s) Assessed	Broad Strategic Intervention(s)	Definition of Success	Position in 2019/2020	Position in 2020/2021
FINANCE	Deliver a real rate of return on customer’s savings Improve options for financial protection	Diversify the Investment Portfolio Improve delivery of real estate projects Product innovations that deliver enhanced financial protection	Return of at least 10-year moving average of inflation +2% UGX 20Bn AUM	UGX 13.2 Bn	UGX 14.1 Bn Progress towards UGX 20 Bn by 2025 is on track

Business Perspective	Key Issue(s) Assessed	Broad Strategic Intervention(s)	Definition of Success	Position in 2019/2020	Position in 2020/2021
PROCESSES	Manual interventions in key customer processes Inadequate data quality for agile business decisions and deeper customer insights	Business Process Re-engineering (Skyfall) Business Intelligence and Data Maturity Model Project Straight-through processing contribution project	Pay customer benefits within 1 day Update member statements in 24hrs	7 days	8 days Benefits payment turnaround time increased due to cash flow management as a result of a surge in claims

Business Perspective	Key Issue(s) Assessed	Broad Strategic Intervention(s)	Definition of Success	Position in 2019/2020	Position in 2020/2021
LEARNING, CULTURE, GROWTH	Progress maturity as a high-performing organisation Become a talent magnet and nurturing talent Improve staff work experience	Address key “hygiene factors” to improve work environment Re-organise structure in line with process re-engineering to add more value to jobs (70:30) Improve reward	95% staff engagement rate	93%	94% High Levels of engagement have been maintained despite the new way of working

Board Activities 2020

KEY

Strategy Implementation
Policy, charter and manuals
Stakeholder actiivty
Corporate governance

JUL

Review of reports ending 30 June 2020:

Financial
Business
Operations
Procurement
Investments

Review of:

Investments Implemented
Property Management
Progress on Real Estate Projects
Appraisal and Contract renewal for IPMC Consultants

AUG

Report on outstanding matters arising from the 11th & 10th Board

Amendments to the HR Policy manual (treatment of the retirement age for Statutory Officers)

Review of:

Draft NSSF Audited Financial Accounts FY 2019/2020

Consideration of:

Interest rate proposed for FY 2019/2020
Proposal on Directors' bereavement
Proposed business reorganisation
Working from Home policy
Management Letter

SEP

Submission of proposed interest rate FY2019/2020

Review of:

Staff appraisal moderation
The external Audit conclusions report FY 2019/2020
11th Board Evaluation Report
Online training on the use of electronic signatures by Diligent Board books

OCT

Review of reports ending 30 September 2020:

Financial
Business
Operations
IT
Procurement
Investments
Legal and Compliance
Internal Audit
Risk Management

Review of:

The economy and its implications for the investment strategy
The banking sector
Housing Finance Bank
The Fund’s bond investment in Kakira Sugar Limited

Consideration of:

The proposed Nakigalala Tea Estate purchase
The Uganda Telecom Limited (UTL) /West Indian Ocean Cable Company (WIOCC) potential investment opportunity
The proposed Business reorganisation
Grade 19 appointments
Benchmarking Report/ recommendations for the contract term of staff taking on new positions
Appraisal and contract renewal for the ARC Consultant

Review of:

Investments implemented
Property Management
Progress on Real Estate Projects
Staff updates
Marketing update

NOV

Review of reports from Committees

Consideration of:

The Fund position on the proposed 20% midterm access
Job description of the Chief Information Officer
The URBRA onsite inspection report

DEC

No activities undertaken

Board Activities 2021

JAN

Review of reports as at 31 Dec 2020:

Financial
Business
Operations
IT
Procurement
Investments Implemented
Legal and Board Affairs
Marketing
Internal Audit
Risk Management

Consideration of the merger of National Agricultural Research Organisation

A Review of:

Economies in the region and implications for the Investments Strategy
CIPLA Quality Chemicals
Update on Property Management
Progress on Real Estate Projects
Uganda Telecom sector
The Fund Managers Performance
Restructuring of Uganda Clays Limited
URBRA Inspection Report 2019 on the Investment Function
Staff updates
Appointment and confirmation of grade 19 positions.
Business Continuity Management (BCM) and Data Recovery Plan (DRP)
Changes to the Risk Appetite Statement

Policy and manual updates:

CSR
Legal Manual
Data Protection
Risk Management

FEB

Review of:

Reports from Committees
Review of the Board Evaluation 2020
Q4 FY 2020/2021 Board meeting dates

Allocation of new Board member to Board Committees

MAR

Full Board Site Visits (Pension Towers and Lubowa)

APR

Strategy workshop to consider management work plans. (BSC 2021/2022)

Review of:

Investments Implemented
Property Management
Real Estate Projects
Investments
Stewardship Code
Contract renewals

Guidance from the Committee on the handling of the IPMC Consultants' contracts

Review of reports:

Staff updates
Marketing
Legal and Board Affairs
Internal Audit Report
Internal Audit Plan
Risk Management

MAY

Approval of 2020/2021 Budget for Minister's consideration
Report and matters arising from the Board session to review Management work plans for the FY 2021/2022
Review of reports from Committees
Appointment to the Housing Finance Bank Limited Board
Re-election of Board member to the Board of Umeme Limited
Consideration of the draft 2021/2022 budget

Review of reports:

Financial
Business Operations
IT
Procurement

JUN

Review of the External Audit Plan
Meeting with external auditors
Office of the Auditor General (OAG)
Introduction of PWC to the Committee
Confirmation of the OAG's position on PWC's potential conflict of interest
Confirmation of the External Audit Planning Report
Internal Audit Strategy FY2021-2022
Consideration of the Internal Audit BSC FY 2021-2022

KEY

Strategy Implementation
Policy, charter and manuals
Stakeholder actiivty
Corporate governance

The Board action plan 2021/2022 will cover:

Progress with real estate Investments and pursue the sale of the 306 house units in Lubowa
Board dynamics - Improve the competency framework, succession plan, strategic annual plan and key performance indicators for the Board
Enhance the capability of the Board to provide the necessary oversight of risk management and internal control
Increase knowledge of and interaction with senior management and the wider employee community

Board Committee Composition

The Board Committees’ functions shall be mainly for purposes of review, oversight and monitoring. Their duties shall include investigating, analysing the relevant information and then reporting back with recommendations to enable the Board to make the appropriate decision. The constitution, focus, activities and future outlook for each of the Board activities is outlined below.

Chairperson

Mr. Patrick Byabakama Kaberenge

Executive Director

Mr. Richard Byarugaba

Non-Executive Directors

Patrick Ocailap
Fred Bamwesigye
Isaac Magoola
Florence Namatta Mawejje
Peninnah Tukamwesiga
Mugole Mauku D. Stephen
Peter Christopher Werikhe
Aggrey Kibenge