Terms Of Reference

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Introduction

The Women in Governance, Risk, Compliance & Financial Crime Prevention (WGRCFP) is a professional network dedicated to advancing the leadership, visibility, and expertise of women in governance, risk management, compliance, and financial crime prevention across various sectors.

This Terms of Reference (ToR) outlines the purpose, structure, roles, and responsibilities of WGRCFP’s governance and operational bodies to ensure effective management, transparency, and alignment with the organisation’s mission and objectives

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Purpose

The purpose of WGRCFP is to:

•⁠ Foster a collaborative platform for knowledge exchange, networking, and professional development.

•⁠ Promote gender equity and leadership opportunities for women in GRC and financial crime prevention fields.

•⁠ Establish a governance structure that ensures accountability, ethical leadership, and transparency.


Governance Structure

Advisory Council

The Advisory Council serves as the strategic and oversight body responsible for guiding the long-term vision, governance, and sustainability of WGRCFP.

Responsibilities
  • Provide strategic direction and ensure alignment with WGRCFP’s objectives.
  • Review and approve policies, strategic plans, and budgets.
  • Monitor organisational performance and risk management.
  • Ensure ethical governance, diversity, and inclusivity.
  • Represent WGRCFP at external engagements and partnerships.

Committees

WGRCFP will establish specialised committees to support core workstreams. Each committee will report to the Advisory Council.

Committees may include:
  • Strategy & Governance Committee.
  • Ethics & Compliance Committee.
  • Membership & Outreach Committee
  • Events & Programmes Committee
  • Financial Oversight & Audit Committee

Executive Leadership Team

The Executive Leadership Team is responsible for the day-to-day operations, delivery of programmes, and implementation of the strategic plan

Responsibilities:
  • Execute strategic plans approved by the Advisory Council.
  • Manage operational processes, programmes, and stakeholder engagements.
  • Provide regular performance reports to the Advisory Council.
  • Ensure effective coordination between committees and governance bodies.

Membership and Participation Area

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Membership Eligibility

WGRCFP membership is open to:`

•⁠ Women professionals in governance, risk management, compliance, and financial crime prevention.

•⁠ Industry leaders, consultants, academics, regulators, and policymakers who support WGRCFP’s mission.


Member Rights and Responsibilities

WGRCFP membership is open to:`

•⁠ Participate in WGRCFP events, programmes, and networking activities.

•⁠ Contribute expertise through committees, working groups, and mentoring programmes.

•⁠ Uphold the values and ethical standards of WGRCFP.

WGRCFP Meetings and Communication


Advisory Council Meetings

•⁠ Frequency: Quarterly (or as required).

•⁠ Purpose: Review progress, approve plans and budgets, address strategic matters, and oversee risk and governance.

Committee Meetings

•⁠ Frequency: Monthly (or as required).

•⁠ Purpose: Advance committee-specific workstreams and report progress to the Advisory Council.

Member Forums

•⁠ Frequency: Periodic (e.g., bi-annual or annual).

•⁠ Purpose: Provide updates on WGRCFP’s activities and gather member feedback.

Communication Channels

•⁠ Primary Platforms: Microsoft Teams, Email, WGRCFP Website, and Social Media

•⁠ Regular newsletters, updates, and governance communiqués will be circulated.

Decision-Making Process

•⁠ Consensus-Based: Efforts will be made to achieve consensus on key decisions.

•⁠ Voting: Where consensus is not possible, decisions may be taken by a simple majority vote (with the Chair holding a casting vote if needed).

Conflict of Interest: Members must declare conflicts of interest and recuse themselves where necessary.

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Ethical Conduct & Compliance

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•⁠ All governance members, committee members, and participants are expected to adhere to the WGRCFP Code of Conduct.

•⁠ Ethical considerations, diversity, inclusion, and integrity shall guide all decisions and actions.

• Any suspected misconduct will be reviewed under the Ethics & Compliance Committee oversight.

Reporting and Accountability

•⁠ Annual Report: WGRCFP will publish an annual report summarising activities, achievements, financial performance, and governance matters.

•⁠ Performance Reviews: Annual performance reviews will assess the effectiveness of the Advisory Council, committees, and leadership team.

Public Disclosure: Key governance documents will be accessible to members and stakeholders (where appropriate).

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Review and Amendments

•⁠ This Terms of Reference will be reviewed annually by the Strategy & Governance Committee

•⁠ Amendments require approval by the Advisory Council.

• Changes will be communicated to all members and stakeholders

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Document Control

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Document Title:

GRCFP Terms of Reference

Version 1.0


Date: March 2025


Approved By: Advisory Council


Review Date: March 2026