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How valuable are your new NEDs?
There is much for a new Non Executive Director to absorb. Non-executive induction, or the lack thereof is often cited in regulatory reports to companies and various regulatory bodies have set out what they expect in the future.
"Regardless of the level – firm or group – at which NEDs sit, we think they can play a very valuable role in ensuring that firms are well governed. In order to do this you need to be not only honest but also competent. We appreciate that we cannot expect you to have the same grasp of the detail as executives who work full time for a group. That said, we expect them to ask the challenging questions, to understand the business models and sources of profit in the firm, along with the risks which those entail. We want to see high quality NEDs committed to ensuring that their firms are run in a high quality fashion. " Shelia Nicoll, Director, Retail Firms Division, FSA
On appointment, ensuring the a new Non-Executive understands the expectations of the regulator is a prudent step. The regulatory environment constantly changes and staying up to date with the issues for your company is essential. Non-Executives should be looking at the issues the regulator is interested in and questioning where necessary. This half day non-executive induction interactive workshop can be run for small groups or on a one-to-one coaching basis and provides an independent forum for debate on the issues guided by an experienced consultant.
Executive Briefing for Non-Executive Directors
Who should attend?
Newly appointed Non-Executives or your Non-Executive team, who would benefit from an independent forum to debate the issues of the day and how they can best discharge their responsibilities.
- Know the expectations placed on Non-Executive Directors be the various interested bodies
- Assess the quality and relevance of the information they receive
- Recognise their role in strategic management
- Consider the risks identified by the regulators to their sector from external change
The detailed agenda
1. The Non-Executive Director’s Responsibilities
- The legal and regulatory framework
- Principles and Code of practice for SIFs
- Maintaining independence in groups
- Board Committees and principles of operations for the main functions
- Obligations to the regulator
2. The Non-Executive Director and the Board
- Relationships with the Chairman and Executive team
- Board operations and the board pack
- Constructive challenge
- Board reviews
- Succession planning
3. The Risk Environment
- Latest risk outlook and relevance for your business
- Risks to strategy
- Board monitoring and relevance and usefulness of information received
- Culture and its influence on the level of risk the business will take
- Control environment and fitness for purpose for the Board
4. Course summary and close
BP&E Global - because Board Performance Matters