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“The model employed “
by JSIF is one that is
responsive and adaptive
without compromising
fundamental principles
For twenty years, JSIF has successfully planned and government based on the importance of the work that JSIF
implemented sub-projects of varying monetary values, without would be undertaking, and the urgent need of the undeserved.
any adverse findings by the regulatory arms of government or However, because of the novelty of a Social Investment Fund,
international partners. In fact, because of JSIF’s unblemished a robust governance structure was established to guide
track record of implementing projects many funding agencies and inform operations. JSIF from inception, has operated
have lauded the robust tested and proven policies, procedures based on an approved comprehensive operational manual.
and systems that exist at the entity. The manual outlines the major operational imperatives that
must be adhered to when planning and executing projects. It
In order for any company to effectively and consistently meet sets the framework for various departments and their inputs
its targets and objectives, an effective legal and governance from project appraisal and approval, to contract approval and
framework must be in place. JSIF’s framework provides finally through implementation, handover and monitoring and
systems to monitor, assess and handle risk, reduce financial, evaluation.
business and operational exposure and strengthen stakeholder
confidence. These systems assist in the prevention of fraud, JSIF’s governance model is grounded in the Public Bodies
and other dishonest and unethical behaviour. Management and Accountability Act (PBMA), the Financial
Management and Accountability Act (FAA) and other legislative
JSIF has, by its modus operandi, hailed the importance of an framework. JSIF, as a company, is governed by a Board of
effective legal and governance framework which is as integral Directors responsible for general operational oversight, strategic
to its operations as timely and compliant disbursement. objectives and aiding in the identification of priorities. The role
of the Chairman, who is the Director General of the Planning
Every entity will have its own specific systems based on that Institute of Jamaica, and the Managing Director are separate
company’s uniqueness. JSIF is no different; as over the years, and distinct. The Board plays an important governance role,
it has tailored processes to meet and respond to its operational particularly in ensuring transparency and accountability in the
needs, while adhering to the compliance standards and project selection, procurement and financial actions of the
requirements of the GoJ and donor partners. company. These activities of the Board are carried out through
various sub-committees of the Board, namely the Finance &
In 1996, when JSIF was conceptualized as part of the Audit, Projects, and Procurement & Contracts Committees.
Government of Jamaica’s Poverty Eradication Project, a cabinet These all have an approved Terms of Reference which outlines
decision was obtained and a Memorandum of Understanding the mandate, quorum and authority.
formulated as part of JSIF’s originating document by the then
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