The Role of the Director and the Board
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The Role of the Director and the Board Course
Introduction:
Board members play a crucial role as fiduciaries, guiding organizations towards a sustainable future through the adoption of ethical, legal, and sound governance and financial management policies. They are responsible for ensuring that the organization has the necessary resources to fulfill its mission effectively.
This comprehensive introduction to corporate governance and risk management provides board members with a solid understanding of their duties and legal obligations. By participating in this program, you will gain the confidence and knowledge to navigate the challenges that arise within the boardroom, enabling you to advance your career to new heights.
Throughout the program, you will have the opportunity to reflect on your own role as a board member and the dynamics within your board and organization. You will be encouraged to bring forward relevant issues and challenges, fostering a collaborative environment where you can share experiences, engage in discussions, and collectively develop solutions.
Over the course of five days, this program will equip you with essential knowledge, skills, and the confidence needed to enhance your performance as a director. You will gain insights into best practices in corporate governance, risk management, and strategic decision-making. The program will also address effective communication within the boardroom, fostering a culture of transparency, accountability, and ethical leadership.
By the end of the program, you will be equipped with the tools to make informed decisions, navigate complex governance issues, drive organizational success, and contribute to the sustainable growth of your organization. This program is designed to empower you as a board member, elevating your performance and that of the board as a whole.
Course Objectives:
By the end of Role of the Director and the Board course you will be able to:
- An understanding of the duties, roles and legal obligations of the Director and the Board,
- An in depth understanding of the Company Act and its implications for businesses, along with the legal and regulatory environment businesses must operate,
- A deep insight in to corporate governance and how it influences the responsibilities, accountabilities and activities of the Board,
- A recognition of the approach to take as a director, both in and out of the boardroom and how to improve personal boardroom effectiveness,
- The ability to identify and understand the crucial differences between direction, management and ownership,
- An understanding of how to identify good governance and interpret, assess, and manage corporate risk,
- Developed strategies and approaches for the effective management of stakeholders at Board level,
- Recognition of the importance and influence corporate values have in the development of a successful, responsible and ethical business,
- Increased confidence to challenge and influence Board level decisions and company direction.
Who Should Attend?
Whether you are an experienced long serving Director, newly appointed or an aspiring Director, this course will give you a fresh and unique insight in to an ever growing role and responsibilities accompanying the position.
Course Outlines:
Corporate Governance and the role of the Company Director and the Board
- Understanding Corporate Governance: an overview
- The role of the Company Director and Board in corporate governance
- Best practice: a look at the corporate Governance Codes
- Delivering good corporate Governance and meeting the legal and regulatory challenges: the need for robust internal processes and systems
- Establishing, communicating and monitoring controls
- Managing risk
- Managing compliance through effective auditing
Review powers, liabilities and statutory responsibilities of Directors and the Board
- Overview of the Director’s roles, responsibilities and duties
- What is a director? Understanding the different types
- The purpose and use of Director service agreements
- Understanding Board structure and committees
- Role and duties of the Board: best practice principles
- Delegate powers and matters reserved for the Board
- Establishing an effective Board: purpose, policies and evaluation
- Introduction to the 2006 Companies Act and a review of its implications for Company Directors
- Liabilities and accountabilities of Company Directors
- Knowing the consequences of a Breach of duty
Focus on the role of the Director in relation to other corporate stakeholders
- Who are corporate stakeholders
- Identifying and mapping stakeholders
- Strategic stakeholder management
- Developing and implementing the action plan
- Communicating with stakeholders: Strategy and progress
- Managing stakeholder conflict
Review key legislation and its implications for both individual Directors and corporate liability
- Overview of the regulatory and legal framework – insight in to the breadth of legislation impacting businesses including competition, health and safety, employment, corporate solvency, wrongful trading and contract law
- Review of the 2006 Companies Act and its implications on the Board and the Business
- International framework and EU Directives
- Liabilities and accountabilities of company stakeholders
- Legal reporting requirements and the disclosure of information
Corporate Risk Management
- Understanding risk: what is risk?
- Identifying corporate risk
- Assessment, management, monitoring and risk reporting
- The risk culture: Risk adverse or risk taking
- Audit and risk committee
- Business continuity planning and crisis management