Finance

We proudly partner with AON Hewitt to ensure the highest quality sector relevant content, resources, training, support and benchmarking possible for the finance sector

Please check out the key features of the Governance Evaluator for the finance sector below …..

5 key Governance Evaluator features

Have a look at the 5 comprehensive features that this program offers Finance Boards for an incredibly affordable ongoing subscription

EVALUATION

Evaluation questionnaire commences the journey for director orientation and education to the key elements for effective governance in the Finance Sector

Evaluation questionnaire

Timely:

  • 10 Modules with 48 questions that only take 30 min to do
  • able to complete one module at a time and can complete the other modules at a later date

Orientation and education for effective governance frame work in Finance Sector:

  • 9 Modules plus 1 extra module for Finance Institutions: Strategic Direction, Risk and Compliance, Finance, Service Quality (including Clinical Governance), Board Relations, Board Composition, Board Processes, Key Stakeholder Engagement, Continuous Review and Development and Financial Institutions.
  • each module and subsequent question commences with a brief easy to read introduction that notes recommended best practice and contextualises the question

Platform for discussing results:

  • Questions and answer choices set the scene perfectly for Chair or External Convenor to discuss results with directors and glean comments and clarity

RESULTS

The instant, easy to read, one page traffic light report immediately highlights to the board which are the areas of risk, comparison for trending and sector benchmarking annually.

Easy to interpret results

The traffic light report is presented on one page under the 9 modules and key question headings:

  • instantly generated when all directors have completed their questionnaire:
    • one page aggregate result for the whole board
    • one page result for each director

Easy to use results for individual interviews for assessing director comments and key themes

  • perfect basis for the individual interviews that the chair or external convener needs to have with each director to understand the comments generated by the questions and create general themes for actions prior to the board planning session for actioning the results

2. RESULTS

ACTION PLAN

The instant action plan immediately provides supports and resources for the board’s KPI’s on their journey for addressing the identified risks and building its own capabilities each year

The Writable Action Plan

  • is instantly generated once all directors have completed the evaluation questions
  • only has recommendations for questions receiving a yellow or a red
  • the recommendations in the action plan are hyper linked the 2 online manuals for immediate support and resources for actioning issues relevant to the Finance Sector
  • is in a writable format so after the Board planning session for agreed actions, the action plan can be manipulated to focus on the 3 or 4 key areas for the board’s attention. These then become the Boards KPIs and have a traffic light system as well
  • the action plan once set can be changed as progress occurs and down loaded to go out with the board papers prior to board meetings for the Boards oversight role of their key KPIs

3. ACTION PLAN

RESOURCES

The comprehensive support resources ensure success for the board’s journey for addressing the identified risks and building itsown capabilities in the Community Sector

The support resources are:

  1. Online Governance Manual –
    1. with policies procedures and templates under the 9 core modules for effective governance with relevant extras for the Finance Sector
    2. can be down loaded and changed to suit the nuances of the organisation
  2. Online Resources Manual –
    1. With information and fact sheets under the 9 core modules for effective governance with relevant extras for the Finance sector
    2. can be down loaded and used to support Board education
  3. Training and support for Chairs, CEOs and Board Support Persons – webinars, face to face and events
  4. Education for the 9 Modules plus extra Finance Sector topics (Financial Institution Hot Topics) – webinars, face to face and events for connecting governance great ideas and solutions
  5. E-Newsletters thought leadership and calendar of events
  6. TV portal – for housing above education and support events and e news letters

Finance Sector External Convenors

It is recommended practice to have an externally led process for board evaluation every three years. The externally led process for evaluation gives an opportunity for a more robust process. The program is designed for the chair to lead the board through evaluation in subsequent years ensuring Board KPI’s, trending and bench marking results continue.

Why choose an External convener?

  • Participants were more frank as they had a neutral person to discuss their results with which made the whole process better
  • the advantage in having an external convener is that you as the chair are at “arms length” from the process which makes for more neutrality
  • it resulted in a very clear report that gives 3 -4 actions for the board to focus on                                                                                                                                                             Dr Tim Denton, Chair 2014

The Governance Evaluator Accredited External Convenors

  • Sector specific skills
  • Accredited and available exclusively for the Governance Evaluator Program

Please contact us for a discussion about our finance sector specialised External Convenors

 

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Proudly partnering with AON Hewitt to provide best possible Governance Evaluator for Finance Sector

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Aon Hewitt’s Governance Evaluator assists board of a leading super fund meet its prudential standards while improving its relationship with management.