Governing, understanding and strategically positioning the organization without overstepping management’s operational role
As a Board and/or Supervisory Committee member, you have a fiduciary responsibility which holds real consequences both personally and for the organization. Studies strongly indicate that the quality of the board has a direct correlation to organizational success.
But in today’s complex and evolving environment, how does the board and supervisory committee “GOVERN” at an acceptable level to garner the necessary understanding and assurances regarding the credit union’s business practices without overstepping management’s role? Where is the line? Or rather what are key questions that need asked? Does the organization’s strategic trajectory align with organizational culture and risk tolerance? What implications have been placed on the organization as a result of the strategic direction? What are the current risks the organization faces in executing on its strategies? What assurances can board members rely on? How do board and supervisory committee members bring together an endless sea of legal, compliance and risk issues and effectively govern?