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Welcome, Monday, Jun 24, 2024

The Powers and Duties of STC Officers and Employees

The highest decision-making authority in the Corporation is the Board of Directors.   Powers and Responsibilities of the Board are given in the Board Charter.

The Board has delegated all its powers, with a few exceptions, to the Chairman for conducting the day-to-day affairs of the Corporation.  Chairman is also authorised to exercise any of the powers included in the exceptions in case of operational necessity subject to subsequently reporting to the Board.  The powers delegated to Chairman also include powers to sub-delegate any of his powers to other officers/committees.  Accordingly, the Chairman and Managing Director has further sub delegated the powers assigned to him, to various committees and individuals to facilitate smooth and efficient execution of day-to-day work. Normally, all the powers pertaining to decision making and matters involving finances rest with the managerial cadre.  Lower level staff has no powers as such, unless otherwise specifically authorised.

The Corporation has a well documented Delegation of Powers (DoP) in force which specifies the powers of employees at each level of the managerial cadre.  These powers are exercised in line with various guidelines and instructions issued from time to time.

The Directors of the Corporation, comprising the top management, are mainly involved in strategic planning and formulation of various policies and procedures for the Corporation.  The middle level management consists of Divisional Heads/In-charge of various Divisions and Branches who look after the task of generating business, negotiating, signing and execution of contracts and assisting the top management in decision making process by collecting and making available all relevant information.

The operating managers are engaged in sending offers/enquiries, supervising and physical implementation of contracts.

The lower level staff is engaged in assisting the managers in documentation, preparing reports, keeping records, etc.

The various service divisions of the Corporation viz. finance, insurance, management services, legal, personnel, IT, administration etc. provide support and administrative services to the trading divisions.

The branch offices of STC, besides undertaking business on their own within the overall powers delegated to them in the DoP, also assist other branches/corporate office in loading/unloading of goods at ports, supervising, making and receiving payments, locating buyers/suppliers in their respective regions, etc.

Allocation of work amongst various Directors and Divisional Heads is shown in Organisation Chart. Work allocation amongst other senior officers is indicated in the list of Key Officials.