NASFUND's Awareness on charters, frameworks, policies & standard operating procedures And The Change Management Process.

[Virtual Presenter] Nasfund's charters, frameworks, policies, and standard operating procedures play a crucial role in shaping our daily work and interactions within the organization. As we delve into this awareness session, let's examine how these essential documents impact our daily activities.

[Audio] Charters are written documents that outline an organization's values, principles, and goals. They serve as a guide for decision-making and ensure that all employees are aligned with the company's overall mission. Frameworks provide a structure for how tasks and projects should be carried out within the company, helping to streamline processes and maximize efficiency. Policies are guidelines that dictate the behavior and actions of employees in the workplace, setting expectations for how employees should conduct themselves and ensuring everyone is on the same page. Standard operating procedures are step-by-step instructions on how to carry out specific tasks or processes within the company, providing consistency and efficiency in the way work is done. The importance of these documents lies in their ability to promote a sense of accountability, teamwork, and a shared understanding of the company's goals. However, challenges such as resistance to change, lack of communication, and difficulty in implementing the documents may arise. As HR professionals, it is our role to address these challenges and find ways to overcome them..

[Audio] The charter is a formal document that outlines the mission, scope, objectives, and responsibilities of a specific group or project within an organization. It defines the group's purpose and the boundaries within which it operates, serving as a foundational agreement. The mission and scope section sets the direction and focus for the team, while the objectives section lists the specific goals and objectives to be achieved. The responsibilities section details the roles and responsibilities of team members, promoting accountability and efficiency. The authority section specifies the authority and resources allocated to the group, defining the boundaries within which it can operate. A well-written charter is essential in any organization, providing direction, outlining responsibilities, and setting limits for the group or project..

[Audio] A framework is a vital tool that provides a structured approach towards achieving specific goals or solving problems. It outlines the key components, processes, and relationships that are necessary to achieve desired outcomes. This allows for a clear understanding of the steps and actions needed to reach the end goal. In the context of employee engagement and HR, frameworks are often used to guide the development and implementation of policies, procedures, and other organizational elements. They provide a solid foundation for creating and implementing strategies that are aligned with the company's goals and objectives. This ultimately leads to a more efficient and effective organization. It is important to note that frameworks are usually owned by senior management or specialized departments within the organization. This ensures that they are created and implemented in a strategic and well-informed manner. The key points of a framework include its structured approach, identification of key components and their relationships, guidance on implementation and management, and flexibility. These characteristics enable a framework to be an effective tool in achieving goals and solving problems..

[Audio] Policies are high-level guiding principles that set the direction and boundaries for decision-making and behavior within an organization. They provide a consistent framework for addressing recurring situations and ensuring compliance with laws and regulations. Ownership typically lies with department heads or senior executives, although compliance officers or legal departments may also have ownership, particularly when it comes to policies related to regulatory compliance. Key points include providing guidance on what needs to be done, ensuring consistent decision-making and behavior, helping to comply with legal and regulatory requirements, and adapting to changing organizational needs..

[Audio] SOPs are detailed, step-by-step instructions on how to perform specific tasks or processes. This ensures that tasks are carried out consistently and efficiently. Department managers or team leaders are typically responsible for creating, maintaining, and updating SOPs, as they are the ones who oversee the daily operations of a specific function or process. Some key points to note about SOPs include providing detailed steps to complete a task, ensuring consistency in task performance, helping to perform tasks efficiently and accurately, and reducing ambiguity through clear instructions..

[Audio] The change management process outlines the steps taken and stakeholders involved in updating, amending, or changing existing processes and policies. The process ensures a systematic approach in dealing with changes and guarantees effective and efficient implementation of the changes. The owner of this process includes team leaders, supervisors, managers, and head of division. The process begins when the business unit identifies the need for a change or update of an existing policy or procedure. They must complete the policy/procedure amendment form to document the necessary changes. The form is reviewed by the legal division, and then the risk and compliance division reviews and assesses the amendment form to ensure alignment with standards and policies. Once the amendments are agreed upon, divisional heads may approve the change. After the changes have been made, they are communicated to all relevant stakeholders and business units. Finally, the approved changes and updates are included in the PPM, ensuring all parties are aware of the changes and can refer to the manual for questions or concerns..

[Audio] Charters are specific to a group or project, outlining its mission and objectives, providing a clear direction for the team's efforts. Frameworks offer a broader structure for achieving goals and solving problems, encompassing multiple projects or initiatives. Policies define what needs to be done, setting the direction and boundaries for decision-making and behavior within the organization. Standard Operating Procedures explain how to accomplish those tasks, providing step-by-step instructions for implementation. Frameworks serve as a structured approach to implementing policies and procedures, ensuring consistency and coherence across various aspects of organizational operations. Policies provide high-level guidance on what needs to be done, leaving room for interpretation and adaptation to specific contexts..

[Audio] Having designated owners helps maintain consistency in how these documents are applied and updated. Documenting frameworks, charters, policies, and SOPs ensures that everyone in the organization understands their roles, responsibilities, and the correct way to perform tasks. This clarity and consistency enable employees to work efficiently, knowing exactly what is expected of them. Moreover, this clarity and consistency help ensure compliance with relevant laws, regulations, and organizational standards. With clear ownership, there is accountability for the creation, maintenance, and enforcement of these documents, streamlining operations and reducing the need for constant supervision and clarification..

[Audio] When creating these documents, we face several challenges. Lack of clarity and communication is one major issue, as unclear language can cause confusion and errors. Inadequate stakeholder engagement is another challenge, as failing to involve relevant parties can result in inaccurate reflections of real-world practices and unaddressed practical challenges. Resistance to change can also occur when employees are not part of the creation process or do not see the benefits of new policies or procedures. Without proper enforcement, even well-written documents may not be followed, leading to inconsistencies and inefficiencies. Overly rigid procedures can hinder flexibility and adaptability, making it difficult to adjust to changing circumstances. Finally, regular updates are essential to keep our documents relevant and effective, as failure to update them can render them obsolete..

[Audio] Creating effective charters, frameworks, policies, and standard operating procedures requires careful planning, clear communication, and ongoing maintenance. By addressing these challenges, organizations can ensure that their documentation supports their goals and enhances overall efficiency and compliance. Each document plays a crucial role in the others, forming a cohesive system that guides decision-making and action-taking. Charters define the scope and objectives, frameworks outline the steps to achieve them, policies provide the rules and guidelines, and standard operating procedures detail the specific actions to take. Together, these documents enable organizations to operate effectively, adapt to change, and maintain compliance..

[image] Smiling work colleagues. THANK YOU. RISK & COMPLIANCE.