- Understand the challenges that hamper the provision of clear information in the Board pack and how to overcome them
- Consider some of the criticisms that regulators make and what they looking for
- Gain some practical suggestions for improving the timing of delivery of Board packs
- Examine the use of templates and the advantages and disadvantages they pose
- Know what steps to take to satisfy yourself about the robustness of the MI you rely upon
- Explore ways to set KPI’s at the right level for the Board, with examples
Your Event Leader - Charlie Galloway
Following a successful career in the City, Charlie has been consulting for over 10 years working with Boards and senior management. 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 way 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.
The quality and promptness of Board reporting is easily the most frequently criticised area in Board Evaluations, Directors feel that there must be a better way to identify the key issues they need to be appraised of - there is.
This 2 Hour workshop style event is designed to provide practical tips that will enable you to recognise common problem areas and to arrive at the changes you want to see in your own reporting that will improve the Board’s grasp of what matters and why the report is being provided.
The reporting can only be as good as the Management Information (MI) allows although, with some analysis, that information can convey a great deal more about past trends, future expectations and potential deviations from strategic plans. You will explore critical steps to ensure the information the Board receives is robust and ways in which the presentation can be enhanced including the use of KPI’s.
1. The expectations of regulatory bodies
- The UK Corporate Governance Code
- Latest expectations of the PRA and FCA
- Common problem areas from Directors and regulators perspectives
- The key role of the various Board support functions in reporting.
2. Planning ahead
- The importance of the Board Terms of Reference
- The scope and frequency of reporting on various topics
- Agreeing the core agenda and timing of specific matters
- Organising Committees and Committee reporting
3. Content and design of the Board Pack
- Using templates – pro’s and con’s
- Examples of templates
- Key elements of any report to the Board
- Getting information at the right level for the Board
4. Management Information
- How do you know it’s accurate?
- Common problem areas
- The appropriate level of detail
- Enhancing the usefulness of the data and use (and over use) of traffic light systems
- Setting KPI’s for the Board to oversee performance in all areas
5. Implementing changes
- Resistance to change
- Demonstrating the value of change