IFFIm governance

The GAVI Secretariat provides support to two independent boards of directors: the IFFIm Board and the GAVI Fund Affiliate Board, which act on behalf of the two entities created to make IFFIm operational. The IFFIm Board is responsible for the management of the International Finance Facility for Immunisation Company (IFFIm), registered as a UK Charity with number 1115413.

Current IFFIm Board membership

 

Alan R. Gillespie, CBE (Chair)
Didier Cherpitel
Sean Carney
John Cummins
United Kingdom
Member since January 2006
John Cummins currently serves as the Group Treasurer of The Royal Bank of Scotland plc. Formerly he was the Group Treasurer of the Standard Life Assurance Company, the largest mutual assurer in Europe. Mr Cummins was one of the original team to establish Standard Life Bank and the Group Treasury function. He was also instrumental in the development of overall funding for Standard Life Group and Bank, using capital, banking and money markets. Prior to his work at Standard Life, Mr Cummins served as Treasurer at MBNA International Bank Limited; a Money Markets Manager at the Yorkshire Building Society; a Customer Dealer at Wallace, Smith Trust Co. LTD; and Assistant Manager Financial Institutions Group at Citibank NA. He received his BA Honours from University College, Oxford University and his Masters in Business Administration from Bradford University.
Dayanath Chandrajith Jayasuriya
Arunma Oteh

Management and activities

IFFIm is managed by its board of directors, and has no employees. IFFIm has outsourced its principal activities to two organisations: all administrative support functions are provided by GAVI and all treasury functions and related accounting services are provided by the International Bank for Reconstruction and Development (or the World Bank), in its capacity as IFFIm’s Treasury Manager. GAVI is responsible for the operational activities related to the immunisation, health systems strengthening and vaccine procurement programmes for which IFFIm provides funding.

Board activities include:

  • Reviewing GAVI immunisation programme funding requests and ensuring proper disbursement of funds
  • Mandating the World Bank as Treasury Manager to arrange borrowing transactions to fund immunisation programmes
  • Monitoring IFFIm’s investment portfolio and liquidity
  • Reviewing and approving IFFIm’s annual report of the trustees and financial statements
  • Overseeing IFFIm’s governance and policies
  • Assessing IFFIm’s efficacy as an innovative financing mechanism supporting international development.