NHF tops the Public Sector Corporate Governance Awards
Minister of State in the Ministry of Finance and the Public Service, Fayval Williams (second left); and Vice President, Private Sector Organisation of Jamaica, Dennis Cohen (left), present the Public Sector Corporate Governance (PSCG) Award for the 2016-2017 financial year to Director, National Health Fund, Cecile Watson (second right); and Chief Executive Officer, National Health Fund, Everton Anderson.
The National Health Fund (NHF) is the overall winner of the Public Sector Corporate Governance (PSCG) Awards for the 2016-2017 financial year.
The awards seek to incentivise public bodies that demonstrate exemplary service and compliance to the Public Bodies Management and Accountability Act (PBMAA) and the Corporate Governance Framework for Public Bodies (CGF) during the financial year.
The aim is to promote awareness of and adherence to the principles of good corporate governance, and encourage improvement in the standard of disclosure.
The awards covered four categories and an overall winner. The categories include Board Composition, Functions and Structure, which was presented to the National Health Fund; Corporate Governance Policies, Procedures and Practices – Jamaica Deposit Insurance Corporation; Compliance and Disclosure of Information – Development Bank of Jamaica; as well as Risk Measurement and Internal Controls – Development Bank of Jamaica. The Development Bank of Jamaica also copped the best annual report award.
In an interview with JIS News, Chief Executive Officer of the NHF, Everton Anderson, said the fund is focused on abiding by the principles of real corporate governance and growing the organisation in a way that is aligned with best practice as it relates to governance, management and accountability.
He said governance in the public sector requires the attention of all, adding that the fund is committed to doing even more going forward.
“It really is a pleasure to accept this award, and it really is a message to all public entities that we can excel, despite whatever challenges we face in the sector,” he said.
Speaking at the recent awards ceremony, Minister of State in the Ministry of Finance and the Public Service, Fayval Williams, said sound corporate governance in public bodies is important to build the country.
She cited that public bodies are integral to the development and implementation of a number of key policies and commercial objectives.
“Corporate governance has been high on the agenda in the private sector for almost two decades, and so I say many commendations to the Government for taking the private sector model of corporate governance and shaping it to fit the public sector,” she said.
Williams commended the 12 public bodies that entered the competition, adding that, “it is a public acclamation that those chosen have demonstrated exemplary service and compliance to the Public Bodies Management and Accountability Act and the Corporate Governance Framework for Public Bodies during the 2016/17 financial year.”
Opposition Spokesperson on Finance, Mark Golding, commended the Private Sector Organisation of Jamaica (PSOJ) for partnering with the Ministry of Finance and the Public Service to establish the Awards.
Chair of the PSOJ Corporate Governance Committee, Greta Bogues, underscored the importance of recognising those public bodies that have established high standards of corporate governance disclosure and practices.
She used the opportunity to encourage more public bodies to enter the competition next year, adding that sensitisation workshops will be held to promote the competition.
The 12 public bodies that entered the competition were Aerotel Limited; Airports Authority of Jamaica; Broadcasting Commission of Jamaica; the Culture, Health, Arts, Sports and Education (CHASE) Fund; Development Bank of Jamaica; Jamaica Deposit Insurance Corporation; Jamaica Mortgage Bank; Jamaica Social Investment Fund; National Health Fund; National Housing Trust; Norman Manley International Airport; and the National Water Commission.
The objectives of the awards are to promote awareness and adherence to the principles of good corporate governance, to encourage improvements in the standard of corporate governance disclosure, and to recognise public bodies that have established high standards of corporate governance disclosure and practices.