|Contributions and Benefits
The main objectives of the department firstly the Registration of Eligible Members and their dependents. The Department further needs to maintain an up to date and accurate Database of the members’ details and their beneficiaries. Further, the department has the task of collecting of the member contributions from the Employers. This creates another duty of ensuring that member employers comply with the LASF Act. Finally the department has a duty to pay members benefits in accordance with the provisions of the LASF Act CAP 284 of the laws of Zambia.
Finance and Investments
The Finance and Investment Department compliments the operations of the Fund in all finance and investments matters. The mandate resting with financial issues includes production of management reports, key business and financial reports while investments planning and execution matters in relation to both capital and money markets is dealt with in compliance with governing policy provisions.
The Internal Auditing function of the Fund provides an independent, objective assurance and consulting services to the various departments of the Fund. It offers services that are designed to add value and improve the operations of the Fund. The Department helps the Fund achieve its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. The mandate is derived from the Internal Audit Charter which is approved by the governing board.
Risk and Research
The Department is responsible for co-ordinating all aspects of risk management and research in relation to regulations and operational systems in all areas of the Fund’s operations. Key functions include developing an appropriate risk appetite, in liaison with the Managing Director, for board’s approval and thereafter to continue actively monitoring the Fund’s risk profile relative to the set risk appetite and strategic plans. The department also promotes risk awareness through training and facilitation to all employees of the Fund so that they are aware of the risks, controls and tasks for which they are accountable; among other functions.
The main objective of the Legal Services Department is generally to provide legal advice to the Board of Directors, the Managing Director and Management on diverse legal issues to ensure that the Fund operates within legal confines and that all the Fund’s interests are proactively protected at all times, through thorough legal research and other legal techniques. The Department is further required to draft, proofread and perfect agreements entered into by the Fund for provision of various services as well as agreements for the provision of services to the Fund. The Legal Services Department is further required to litigate on behalf of the Fund in cases where the Fund is required to enforce its rights at law and also defend the Fund in cases where the Fund has been brought before a court of law or any other tribunal legally constituted by law.
Human Resource and Administration
The Human Resource and Administration Department supports the Fund in fulfilling its mission through coherent human resources Policies and Procedures and by providing efficient and effective human Resource services. It also develops and implement programmes that will support LASF Strategic Objectives through appropriate resourcing, performance and reward management, staff development and human resource communications and administration
The Information Technology Department is a support unit under the directorate of Corporate Services. The department is mandated to develop, implement and support the Fund’s Information System. The Information system comprises various components including, the Network, Servers, applications and other peripheral devices and software.
Purchasing and Stores
The Department is responsible for all Procurement of goods, services and works of the best quality, in the right quantities, from the right sources, at right prices and have them delivered to the right locations as demanded by users departments. It is also responsible for management of all Insurance policies at the Fund. The Procurement and Supplies Department ensures that all insurance policies are renewed without any break in the cover. Additionally, it reports perils immediately and processes claims within the shortest possible time.
The Public Relations Department creates and maintains a favourable image of the Fund by use of various media. The Department acts as the liaison office between LASF and the public. Further the Public Relations Department monitors and effectively communicates stakeholders’ concerns on the operations of the Fund. Additionally, the Department engages in protocol duties such as making travel arrangements for officials travelling on Fund business so as to facilitate their prompt passage, among other things.