Opportunities to learn as a collective group will broaden the Board members' understanding of their roles and responsibilities and the environment in which the Board operates. This understanding will increase each Director's effectiveness and value to financial institutions. Unfortunately, Board education and training is often overlooked.
New and experienced Board members benefit from shared information delivered by knowledgeable sources. By investing time and resources in Board training, a financial institution can increase the Directors' commitment to the financial institution, deepen their understanding of their roles, and improve relations among Board members. Building a training component into Board meetings supports ongoing learning about Board leadership and governance germane to the success of the financial institution.
Some topics to consider in a training program include:
- Overview of Governance
- Roles and Responsibilities of the Board, CEO, and Staff
- Exercising Fiduciary Duties
- Strategic Planning
- Board Self-Assessment
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
