Company Policies
Comprehensive governance framework ensuring transparency, accountability, and ethical business practices
Core Policies
Compliance
Corporate Governance Policies, Procedures and Practices
The Board of Factories Corporation of Jamaica Limited recognises the importance of operating transparently and ethically in all aspects of its business—whether with tenants, suppliers, contractors, or the wider public.
While the Corporation is guided by applicable legislation, the Board also upholds strong business ethics as its overarching standard. A robust suite of internal policies governs FCJ's operations. These policies promote consistency, fairness, and legal compliance across all levels of the organisation.
They also guide the conduct of the Board, Management, and staff by setting clear expectations around ethical conduct, transparency, accountability, and regulatory adherence. FCJ aligns with the Corporate Governance Framework for Public Bodies (2012), the Public Bodies Management and Accountability Act (PBMAA), and other applicable statutes and guidelines.
Key Corporate Governance Policies
| Policy | Summary | Download |
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Access to Information
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Ensures public access to FCJ-held information, supporting transparency. |
Coming Soon |
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Code of Business Conduct
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Outlines expected ethical behaviour for all staff and officers. |
Download |
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Relationship Policy
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Provides rules for disclosure and management of conflicts. |
Download |
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Donations Policy
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Governs the conditions under which FCJ provides sponsorships or grants. |
Download |
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Sexual Harassment Policy
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Promotes gender equity and inclusion within the workplace. |
Download |
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Quality Policy
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Details quality standards and continuous improvement processes. |
Download |
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Rental Policy
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Sets rules for property rental and lease management. |
Download |
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Business Continuity Policy
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Covers operational resilience and disaster recovery procedures. |
Download |
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Protected Disclosures (Whistleblower)
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Safeguards staff who report wrongdoing and encourages accountability. |
Download |
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Divestment Policy
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Governs the divestment of FCJ assets and properties. |
Download |
Environmental, Social and Governance (ESG) Policy
ESG Commitment
FCJ plays a critical role in Jamaica's commercial and industrial development, contributing to economic growth while upholding environmental responsibility and social impact. Recognising the urgent need for sustainable practices, the Company has established an Environmental, Social and Governance (ESG) Policy as a blueprint for embedding sustainability principles into its operations, tenant partnerships, and stakeholder engagements.
The company aims to address ESG challenges through its core business activities, providing high-quality, efficient infrastructure, services, and solutions that prioritise environmental protection, safety, and stakeholder well-being. ESG considerations are integrated into FCJ's operational, corporate, and strategic planning to build a sustainable organisation and strengthen business continuity.
Stakeholder Collaboration
As a public body responsive to changes in the external environment, FCJ continues to strengthen its corporate governance practices in collaboration with its stakeholders. Since adopting the ESG policy, the company has made meaningful strides in setting targets and objectives to address social and governance priorities, while also evaluating environmental risks and opportunities.
FCJ's role as a developer and provider of space has been reinforced by significant investment in human capital—recognised as a key driver of sustainability and innovation. By maintaining focus on both internal and external changes, the company remains committed to creating value that supports the sustainable growth of its people and operations.
Operational and Business Risk Assessment
Financial Risks
Risks such as non-collection of rental and maintenance fees and financial fraud are classified as high impact. These are addressed through formalised lease agreements, regular receivables review meetings, use of debt collectors, and robust internal controls.
Enterprise Project Development
High-impact risks related to access to capital and technical limitations are mitigated through early identification of funding partners, leveraging assets as collateral, and engaging reputable engineering firms.
Compliance and Legal Risks
These include non-compliance with industry regulations or environmental laws. FCJ mitigates these risks through regular policy reviews, compliance training, internal audits, and environmental impact assessments.
Technological Risks
Cybersecurity threats and IT system failures pose high risks to operational continuity. These are addressed through comprehensive cybersecurity strategies, regular system maintenance, disaster recovery planning, and staff training.
Environmental Risks
Natural disasters and the longer-term effects of climate change are considered significant. FCJ has developed disaster recovery plans, secured insurance for assets, ensured structural resilience of buildings, and implemented sustainable initiatives.
Business Continuity Risks
Risks such as pandemics and political/economic instability are mitigated through business continuity planning, remote work enablement, health protocols, and market diversification strategies.
Risk Measurement and Internal Controls
Enterprise Risk Management
Risk management is embedded within FCJ's strategic and operational framework. The company's Enterprise Risk Management Policy governs risk identification, assessment, monitoring, and mitigation across all areas of activity. This policy is supported by the internal Audit function, which independently evaluates the adequacy of controls and governance processes.
Risk Culture and Compliance
The Board leads by example in promoting a culture of risk awareness and ensuring all employees understand their role in operating within acceptable risk parameters. All employees are assigned clear responsibilities for reporting and monitoring risks and is supported by detailed guidelines and a Compliance Plan.
Data Protection Risk Assessment
In accordance with the Jamaican Data Protection Act and global best practices, FCJ has adopted rigorous measures to address risks associated with the handling of personal data.
Unauthorised Access to Personal Data
Mitigated through access controls, multi-factor authentication, periodic audits, and staff training.
Data Loss or Theft
Addressed by encrypting sensitive data, implementing secure handling protocols, and performing regular data backups.
Internal Threats
Preventative steps include firewalls, intrusion detection systems, penetration testing, incident response planning, and software updates.
Inadequate Encryption
Strong encryption standards (e.g., AES-256) are enforced, along with secure transmission protocols and staff awareness.
Non-Compliance with Data Protection Regulations
FCJ has appointed a Data Protection Officer (DPO), conducts regular audits, and ensures staff are trained on compliance requirements.
Data Retention and Third-Party Risks
Retention schedules are defined and monitored via automated tools. Vendor contracts are reviewed to ensure adherence to data protection clauses.
Physical and Incident Response Risks
These are managed through physical security systems, access controls, regular audits, and defined incident response and recovery plan.
FCJ remains firmly committed to maintaining a strong risk governance framework that safeguards the organisation's assets, operations, and reputation. Through clearly defined policies, regular assessments, and structured oversight, the FCJ ensures that each identified risk is not only evaluated and addressed but also monitored for prevention, mitigation, and response plans.
Forward-Looking Approach
Risk management is embedded into enterprise-wide decision-making, with close collaboration across departments to proactively address emerging threats and vulnerabilities. Mitigation measures are not only documented but also tested and refined, ensuring that FCJ can respond swiftly and effectively in the event of disruption.
This dynamic and forward-looking approach ensures that FCJ remains resilient, agile, and prepared to fulfil its mandate, regardless of external conditions.
Internal Audit Function and Charter
Internal Audit Charter
FCJ's Internal Audit Charter recognises internal audit as a vital component tool for assessing the integrity, efficiency and effectiveness of the company's operations. Internal Audit functions as an independent, yet integral part of management, carrying out its duties objectively and professionally.
The Charter defines internal audit as a professional oversight mechanism that systematically manages control systems. The function evaluates risk management, internal controls, and governance arrangements to ensure that:
Key Audit Objectives
Risks are properly identified, assessed, and managed
Financial, operational, and IT systems have effective controls
Staff comply with applicable laws, policies, and procedures
Resources are protected and used economically
Reporting is accurate, timely, and aligned with regulatory expectations
Charter Review and Continuous Improvement
The Internal Audit Charter is reviewed annually to maintain alignment with international auditing standards. In the coming year, FCJ will continue to strengthen its governance systems to support its transformation and development agenda.
Charting the Way Ahead
In the coming year, FCJ will continue to strengthen its governance systems to support its transformation and development agenda. Key initiatives include:
ESG-aligned Governance
Advancing ESG-aligned governance, with emphasis on sustainable development, environmental stewardship, compliance, and community engagement—building on the ESG policy adopted during the reporting period.
Digital Governance Tools
Implementing digital governance tools to improve meeting management, document access, and information flow across Board and Committee platforms.
Enhanced Training Calendar
Expanding the Board's training calendar to include strengthening Directors to operate as effective stakeholder engagement, and the role of public bodies in national resilience and economic growth.
Succession Planning
Formalising succession planning for Board leadership and executive management, with a focus on continuity and knowledge transfer.
Comprehensive Policy Framework
Our robust policy framework ensures transparency, accountability, and sustainable business practices across all operations.