BANKSETA ANNUAL REPORT 2023

BANKSETA GOVERNANCE STRUCTURE THE ROLE OF THE BOARD

THE BOARD CHARTER The BANKSETA Board Charter defines the strategic mandate of the Accounting Authority and outlines the knowledge, skills and experience required by BANKSETA Accounting Authority members to perform their fiduciary duties, and meet National Skills Development Strategy targets, strategic plan objectives, duties, responsibilities and Code of Conduct articulated in the BANKSETA Constitution, risk management priorities, meeting procedures and governance principles. During the 2022/23 financial year, there was no non compliance with the Board Charter reported. BOARD COMPOSITION The BANKSETA Board currently comprises six representatives from organised labour and four from organised employers as well as two representatives from community organisations, professional bodies or any bargaining council or government department (where relevant). The Chairperson of the Board is appointed by the Minister after consultation with the NSA.

The roles and functions of the Board, which are articulated in the BANKSETA Constitution, in turn the basis of the Board Charter, are to:

1. 2.

Govern and manage the SETA;

Ensure that the SETA achieves the objectives contemplated in clause 5 of the Constitution and performs the functions contemplated in clause 6 of the Constitution; Provide effective leadership and ensure that the SETA implements the goals of the NSDS and the Performance Agreement with the Minister; Set a strategic direction for the SETA; Ensure that the SETA complies with statutory requirements and the requirements of the Constitution; Apply for the establishment of the SETA in terms of Section 9(1) of the Act, read together with the Regulations Regarding the Establishment of Sector Education and Training Authorities, 7 September 1999, as amended by General Notice R106 in the Government Gazette 27254 of February 2005; Perform its functions as required by the Skills Development Act; Meets the targets in the National Skills Development Plan; 12. Implement the approved Strategic Plan; and 13. Adhere to the requirements of the Public Finance Management Act and Treasury Regulations. 3. 4. 5. 6. Liaise with stakeholders; 7. 8. 9. Manage institutional risk; Monitor the performance of the SETA; 10. 11.

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BANKSETA ANNUAL REPORT 2022/23