The job of a board member’s is to ensure that the governance functions of their company are efficiently carried out. This includes duties such as strategic planning and financial oversight, as well as legal compliance. It also encompasses managing programs, investments in the organization and policy formulation.
Aboard members are also responsible to evaluate potential conflicts of interests, as well as keeping their integrity. This means reviewing their company’s legal organizing documents and bylaws, as well as having a thorough conflict of interest policy in place and following it.
A board member should also ensure that they possess the necessary skills to fill the position they’re filling. This means knowing the terminology of their industry and understanding the complexity of documents they read, like financial statements and strategic reports. Furthermore, they must be capable of thinking creatively and critically, comprehend risk and know what questions to ask internal and external advisors.
They must also be able to communicate their ideas and take part in productive discussions with the other members of the board. This is particularly important when addressing sensitive topics that require a certain amount of confidence and discretion. Additionally, they must be prepared to commit the time needed to complete their obligations – including attending meetings, delivering productively and reading the material in advance of the meeting.
Another area of responsibility is recruiting, selecting and the orientation of new board members. Always look to find enthusiastic new members who can bring knowledge, talent, and experience into the boardroom. This typically involves visiting facilities and engaging with volunteers, as well as searching out talent through social media and other channels.