The Role of the Director and the Board
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The Role of the Director and the Board Course
Introduction:
Board members are the fiduciaries who steer the organization towards a sustainable future by adopting sound, ethical, and legal governance and financial management policies, as well as by making sure the organization has adequate resources to advance its mission.
Delivering an essential understanding of the board’s role in corporate governance and risk management, this introduction to the duties and legal responsibilities of a director will enable you to tackle the challenges of the boardroom with fresh confidence and progress your career to the next level.
Delegates will be encouraged to consider their role, Board, and organization, bringing relevant issues and challenges to share, discuss, and develop solutions.
This five-day program will give you the essential knowledge, skills, and confidence to improve your performance as a director and that of the Boards.
Course Objectives:
By the end of the 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 into 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 the 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 into 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 about other corporate stakeholders
- Who are the 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 into 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 the risk?
- Identifying corporate risk
- Assessment, management, monitoring, and risk reporting
- The risk culture: Risk-averse or risk-taking
- Audit and risk committee
- Business continuity planning and crisis management
