Creating Effective Governance Structures

Your Consultant - Charlie Galloway Following a successful career in the insurance sector, Charlie has been consulting for over 10 years working with Boards. He has led the preparatory work for regulatory visits and reviewed numerous approaches to Board reports, often called upon to assist in addressing RMP points and S166 remedial work This experience gives him the ability to communicate practical ways to improve and draw on his extensive experience for examples. He assists Boards to analyse and organise the extensive information they have into a framework that allows them to function more effectively and comply. His early career was with Sedgwick’s and after 5 years he moved on to JLT where he pursued a career change into compliance. As Compliance Officer he was involved in all aspect of compliance from governance to procedures. He went on to undertake a Compliance Management role for Starr Managing Agents Ltd.

Good Governance will not happen unless the structure you have adopted encourages meaningful and timely meetings with the right people around the table. In our experience there are some common issues that arise when undertaking governance reviews:

• Board and Executive Committees missing from the structure with matters handled inadequately, if at all, at Board meetings.
• Extremely complex Committee structures that fall into disuse as everyone finds the number of meetings and level of duplication unhelpful
• Poorly documented and evidenced responsibilities for Board appointments

This 2 hour workshop style event will refresh your knowledge of the standards for all firms expected by regulators and explore how best to structure your governance of the firm and the responsibilities that the different roles at Board level should hold. 

"In the current economic situation, we need more than ever to ensure that companies are well governed and consequently reliable and sustainable. Too much short term thinking has had disastrous consequences. .. Above all, we need company boards to be more effective and shareholders to fully assume their responsibilities."  Michel Barnier, Internal Market and Services EU Commissioner 

Benefits

• Be up to date on what is now expected of Boards and why
• Recognise how proportionality can be applied but also what core requirements must be met
• Consider the Committee structure, Membership and powers that can be delegated by the board
• Compare your approach with best practice standards for Terms of Reference
• Know the key responsibilities that fall to the Chairman, Executives and Non-Executives in their Board role
• Recognise why succession planning is vital and the minimum “stand in” periods that apply to vacancies
• Consider whether your appointment process will meet the regulatory standards now and in the future.

The Agenda

The agenda

1. The current regulatory standards and good practice

• UK and European developments
• Fit with the Companies Act 
• Comply or explain principle in practice 
• Common comments and requirements from regulatory visits

2. Governance structures

• The Board structure and powers
• The role of Committees and how to decide which ones are suitable for your company
• Documenting the structure - examples
• The key role of Terms of Reference
• Delegation by the Board

3. Individual accountability

• The implications and application of the new “Prescribed Responsibilities” and key functions
• Ensuring that individual responsibilities are properly documented
• Role Profiles with examples of good and poor practice
• The role of the Chairman and Senior Non Executive Director 
• The responsibilities of Non-Executive and Executive Directors
• The expectations of Executive Directors

4. Ensuring continuity at Board level

• Effective succession planning
• Tenure of Non-Executives
• Setting and applying an appointment procedure
• Managing resignations and temporary appointments

To Book this event please call 0207 764 0721, or email info@bpandeglobal.com 

BP&E Global - Because Board Performance Matters