Effective Governance Board Competency Framework The attributes and - PowerPoint PPT Presentation

Effective Governance Board Competency Framework The attributes and competencies enabling individual Board Members to use their knowledge and skills to function well as team Behavioural Members and to interact with key stakeholders Governance The essential governance knowledge and understanding all Board Members should possess or develop if they are to be effective Board Member. Includes some specific technical competencies as applied at Board Technical level Technical/professional skills and specialist knowledge to assist with ongoing aspects of the Board’s role Industry Experience in and knowledge of the industry in which the organisation operates Source: GC Kiel et al., 2012, Directors at work: a practical guide for boards , Sydney: Thomson Reuters.

What a skills assessment looks like - internal Current Competency Future Self-Assessment Requirement Current Met / Not Director D Director A Director B Director C Director E Director F Rounded Rounded Section Competency Maximum Number Met Mean: Mean: Current at Future Skill Level Directors GAPS Skill Level Needs Required Required Skill Level 1.1 Accounting 3 2 3 3 2 2 3 0 4 2 Not Met 1.2 Finance 2 2 2 3 2 2 3 0 4 2 Not Met Technical Skills and Experience 1.3 Industry experience 1 4 3 3 4 2 4 4 5 2 Not Met 1.4 Law 5 1 2 2 2 2 5 1 4 1 Met 1.5 Strategic marketing 2 2 2 2 4 3 4 2 3 2 Met 1.6 Strategy development and 2 3 2 2 4 3 4 1 4 2 Not Met implementation 1.7 Risk management 2 3 2 2 3 2 3 2 3 2 Met 1.8 HRM 2 2 2 3 2 2 3 1 3 2 N ot Met 1.9 Information technology 1 1 1 2 2 2 2 3 3 1 Not Met 1.10 Contemporary corporate 4 3 2 3 4 3 4 2 4 3 Not Met governance Key Educate What Individual meets or exceeds requirements value? Requirement not met Requirement met 2

What a skills assessment looks like - external Self-Assessment Director A Director B Director D Director E Director C Director F Section Competency Accounting Finance Technical Skills and Experience Industry experience  Law   Strategic marketing  Strategy development and implementation   Risk management  HRM Information technology Contemporary corporate governance