The fundamentals of good governance are universal. But that doesn’t mean that a ‘one size fits all’ approach is best when establishing governance arrangements. Each industry code is unique and deals with a particular facet of industry operation that has its own requirements. ElectraLink have expertise in creating and managing governance arrangements that meet this reality.
We initially work with code stakeholders to establish the intent of the code and its broader regulatory environment. We identify the interests of each stakeholder, recognising the potential for competing interests, along with any technical, data or security requirements. This process is driven by both the code and the practical requirements of all parties. Grasping this wider context in governance is critical to defining and crafting an efficient service.
Wherever possible we reuse our established processes and infrastructure,to create the service. This approach minimizes risk, keeps costs down, accelerates delivery times and creates systems that are recognizable to industry stakeholders. Creating a common interface across different codes (such as uniformity of Change Proposal forms) consistently delivers operational benefits to industry parties.
During service mobilisation, we establish the foundations for future support of the governance arrangement. We document and publish all processes with plain English guidelines, together with Change Logs and meeting calendars to ensure that parties to the agreements can plan their future engagements. We also produce a suite of document templates to ensure standardization of future communications, develop internal service delivery policies, and set up a dedicated helpdesk. These measures ensure that the agreement is supported for as long as you need it.
Other key features of our Governance services include:
- Expert Advice: We provide code parties with advice and guidance on the interpretation of the code, and we are recognised as a trusted adviser.
- Change Control Administration: creation and operation of an understandable, fair and efficient change process which engages with industry and provides it with a voice.
- Document Maintenance: we ensure standardisation, completeness and integrity, meaning parties can rely on the code documentation when assessing their obligations.
- Meeting Management: Effective meetings should be output-driven with papers circulated in advance.This allows attendees time to consider the issues and provide valuable input that delivers resolution.
- Assurance and Compliance: industry performance monitoring and reporting regimes designed to ensure that parties comply with their obligations and avoid regulatory sanctions or penalties. Mandatory compliance with codes through license can be systems-based, process based, or both.
- Market Entry: delivery of an accession process which is easy to use and ensure that there are no undue barriers to market entry.
- Development and maintenance of websites: ensuring open and transparent communication with industry; and
- Corporate and financial management: operation of strong financial and corporate management processes to control the cost of governance.
Our customer satisfaction surveys show that the knowledge of our staff, the quality of our service, and our cost-effectiveness are all market-leading.
Get in touch
Contact ElectraLink to discuss our Governance Services on 0207 432 3000 or email us at email@example.com