Improving Board Reporting

Date: On a date of your choice
Location: Delivered as an interactive briefing
Event Code: IBR

Course Details

Commercial and regulatory expectations continue to increase the standard for how businesses prepare management information and how they use it in their decision-making. Fast-moving operating conditions, in which organisations need to make decisions, take risks and generate value, create significant demand for timely, accurate, complete and relevant information.

Good management information is key to delivering a sound, well-run business, an effective board and demonstrating strong governance. The right management information enables a dialogue between employees, senior management and a board that is open, constructive and challenging. Board reporting and the “Board Pack” are central to this dialogue, enabling quality oversight, sound decision-making and prudent management. Ensuring that the board is adequately updated on all significant matters, about which they should be made aware.

This 3 hours interactive briefing focuses on what makes a good “Board Pack” and gives practical techniques for improving your own management information and board reporting. The session will also provide practical guidance on how to create strong links between management information, board reporting, risk appetite and decision-making.

Who should attend?

This interactive session is suitable for everyone who receives or prepares board papers: Chairman, Company Secretaries, Executive Directors and Non-Executive Directors. Risk and control function senior managers will also find the insights useful.

 The agenda

1. Management Information - Board and Executive Responsibilities

  • Shaping and monitoring corporate culture
  • Confirming stakeholder expectations
  • Connecting board, senior management and employees
  • Common challenges with management information and Board MI

2. Board Reporting – What Makes a Good “Board Pack

  • Supporting prudent management - “Tone from the Top”
  • Establishing a standard for scope, content, delivery and use
  • Combining strategy, performance and risk
  • Aligning commercial / regulatory reporting and external disclosure
  • Articulating clear, relevant and actionable performance indicators
  • Enabling oversight - balances data, analysis and opinions
  • Anticipating emerging risks and opportunities - forward looking

3. Risk – Common Thread in Board Reporting and Decision-making

  • Agreeing the board risk philosophy
  • Setting and monitoring strategic risk appetite
  • Using Key Risk Indicators (KRIs) to improve reporting and decision-making
  • Aligning risk-taking and reward practices

4. Practical Techniques - How to improve your Management Information and Board Reporting

  • Setting your own standard for management information
  • Creating the “Blueprint” for your Board Pack, engaging the board
  • Balancing the message – performance v projects v operations
  • Establishing production capabilities and logistics
  • Investing effort in setting and monitoring indicators
  • Using the right language to stimulate debate

5. Next Steps – Things to Consider

  • Regulatory reporting requirements
  • Tactical and continuous improvement

Testimonial Many Boards and Boards Committees  struggle with information that is generated from historically entrenched processes and reflect 'how we have always done it'. It is a huge challenge to change this - often without knowing what you actually want as an ideal outcome. This course gives a really good template - Independent NED

Key Benefits

  • Gain an understanding of the commercial and regulatory expectations of management information and board reporting.
  • Recognise common challenges relating to scope, content, delivery and use.
  • Gain insight into what makes a good “Board Pack”.
  • Receive practical guidance on how to make stronger connections between management information, risk appetite and decision-making.
  • Explore practical techniques to enable you to challenge and improve your own management information and board reporting.
  • Explore practical ways for improving your understanding of the key relationships between your operating conditions, strategy, risk profile, decision-making and solvency.

Your Consultant: John Constable

John’s career began in the RAF and has spanned retailing and financial services, the last 15 years as an independent consultant specialising in executive and board development. His business and regulatory experience equips him to bring a joined-up approach to governance, strategy, risk and finance. This is positioned in full recognition of the dilemmas and multiple – and often conflicting - demands within the board’s “day job”.

A great communicator, he brings commercial awareness, credibility, and pure energy. His versatility allows him to lead and challenge executives and senior managers, providing current and relevant examples to illustrate, draw parallels and clarify complexity.

John’s published articles have encompassed financial crime, learning and development strategies, operational risk management, change management and Solvency II.

John has a BA (Hons) in History from Kings College London, he holds an Open University Certificate in Financial Management, a Diploma in Management from Henley and is a Member of Chartered Institute of Personnel and Development.

 

 

 

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