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"A worthwhile investment. Very informative and interactive" - Risk and Assuance, NLNG
"The course was very good and would be useful for all directors" - Director, Retirement Benefits Authority
This practical Corporate Governance training programme examines current best practice in all aspects of corporate governance, from the new role of board committees and directors' responsibilities and powers, to best implementation of governance in day-to-day activities.
The costs and benefits of best practice governance will be examined and practical guidance will be given on such issues as the relationship with shareholders and other stakeholders, managing and meeting the expectations of the market, international investors and local government and regulatory authorities. You will also discuss the challenges of implementing best-practice corporate governance in emerging markets and will include the specific requirements of banks and financial institutions.
How will this course assist you?
This comprehensive 4-day programme will cover:
• The current state and direction of best practices in corporate governance
• Implementing and embedding best practices within your organisation /institution
• How to structure board committees, institutional policies and procedures to conform to international requirements and expectations
• How to communicate governance procedures to outside stakeholders including shareholders, governments and communities
• Implementing governance directives within the management of the institution Analysing the governance of other institutions
• Governance as a competitive edge
• Identifying and maximising the financial benefit from improved corporate governance and procedures
Practical presentations on formulating and implementing modern international corporate governance principles will be blended with case studies drawn from recent international precedents. Workshop projects that simulate real-life experiences will help to reinforce key principles.
Who should attend?
• Directors & Board Members
• Audit Committee members
• Company secretaries and governance professionals
• Corporate counsel
• Senior company management
• Investors and fund managers
• Securities exchange officials
• Lawyers & legislators
Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2.
Introduction, Implementation, Legislation
Some Basic Principles; the Level Playing Field
- What is the role of the board? What is corporate governance?
- The international perspective - divergence or convergence?
- US Sarbanes Oxley - act style legislation vs. UK-style voluntary code
Corporate Governance – the Business Case
- The rewards: a study of share performance metrics
- Corporate performance and boardroom practices - the link
- Benefits to the economy: The ‘corruption premium’ and the cost of accessing global capital
- Foreign direct investment; countering the vulnerability of short term capital flows
- Assessing governance in others
Good Corporate Governance and Emerging Markets
- Why governance is essential in emerging markets
- Information asymmetries and inequalities
- The patterns of ownership in emerging markets; The protection of minority investors
- Convergence to the OECD norms?
Industry Specifics: Banks; Government Companies
- Governance in banks - the agency problem; opaqueness, “rogue traders”
- The role of the bank in improving the governance of the corporate sector
- How poor governance can cause systemic financial crises
Case Study: Recent Financial Sector Governance Failures
- State owned enterprises and corporations: governance issues
Legal and Regulatory Frameworks for Governance
- Then legal responsibilities of directors
- Listing requirements: how capital markets impose corporate governance requirements:
- Corporate governance codes; recent regulatory trends in corporate governance
- How to develop a corporate governance code for your company
- Governance disclosures: governance as a competitive edges
Case Study: Grupo Bancolombia S.A.
Ethics, Corporate Social Responsibility
Ethics and Culture: the Board’s Responsibility
- Corporate structures for ethics
- Developing an Ethics Code
- The role of the “whistle blower”.; setting up internal hot-lines
- The place and principles of corporate social responsibility
Case Studies: Australian Wheat Board and Iraq; Siemens A.G.
Boards, Directors and Board Committees
The Board – key Principles and Practicalities
- Principles of independence and leadership
- Building the right working relationship between Board and management
- The Board’s responsibilities for:
- Management oversight
- Protection of stakeholders’ rights
- Disclosure and transparency
- The company’s strategy
Case Study: Where was the Board? Enron and other Catastrophic Board Failure
The Board’s Composition and Processes
- Independent and non-executive directors
- Are independent directors the solution?
- New powers for non-executive directors, stiffer penalties for negligence
- Rule of engagement: defining the non-executive director
- How two-tier boards imbed ‘independence’ – sometimes at a cost
- Board meetings basics; information for directors
Case study: Hewlett Packard: “the worst board in the history of business”
Board Committees – the Audit Committee
- What are committees for? - rules and principles for committees.
- The role of the Audit Committee
- Audit Committee membership and expertise requirements; “financial literacy” requirements; processes and procedures
- Resources for Audit Committee members
- Relationships with internal and external auditors
- Managing changes in membership
- Structuring internal audit oversight, reviewing internal controls
Case Study: Société Générale - a failure of culture and internal controls
The Board – Nominations and Compensation
- Board nominations: whom to appoint to the board? Sourcing directors
- Creating effective Board appraisals and assessments
- How the board should manage succession planning
- Setting pay and compensation in the company: basic principles
- Pay for performance – for board members?
Case Study: Pay for Non-Performance – NYSE ($188 million); Disney ($100 million).
- Share ownership by directors – an alignment, or a conflict of interests?
- Executive pay: structuring the incentive
- How much should non-executive directors be paid?
- Recent controversies, and ‘best practice’ developments in compensation
- Remuneration disclosure
Day 3Personalities on the Board
- The role and duties of chairman of the board
- Leading the company/leading the board – chairman styles
A study in Contrasts: BP’s “Where was the Chairman?” vs. Singapore Airlines
- Experience of the business? – needed for the chairman?
- The importance and developing role of the board secretary
- The secretary – a Corporate Governance professional
- Resources for the board secretary
- Board evaluations: questionnaire or interview?
Case study: Developing Effective Board Assessment Procedures - an Exercise in Tact
- Maintaining directors’ effectiveness – structuring the job
- Director training
Governance and Risk – Responsibilities of Directors and Management
- The oversight of risk; assigning responsibility in management
- The role of Chief Risk Officer; reporting line practices
- Modern systematic approaches to risk management, and tools for the Board
- Enterprise Risk Management for companies: the new discipline
- Extreme event management
Case Study: China Aviation Oil and the Oversight of Risk
The Board and Executive Management
The Practicalities of the Correct Relationship
- Chairman and chief executive – splitting the roles: the arguments for and against
- The CEO and the chairman – optimising relationships
Case Study: Olympus, the Chairman, the (foreign) CEO, and the ¥50 trillion Cayman Islands “advisory fee”
- Defining the CEO: requirements for successful company leadership
- Hiring the CEO
- Evaluating CEO performance; communicating the evaluation
- Management committees, and the board’s oversight of the management structure
Day 4Governance in Controlled Companies
- Governance for family businesses
- Succession planning in family businesses; the role of the independent director
- How Boards can help family companies move towards an IPO / listing
- Transcending borders: the specific challenges of corporate governance for multinationals
- Ensuring effective governance in overseas subsidiaries: best practices
The Board and Strategy
- The board’s role in formulating and reviewing strategy
- Partnering with management in the process – who does what?
Case study: HIH Insurance and the Missing Strategy; Australia’s Largest Corporate Failure.
- Mission and vision – the role of the board
- Changing the strategy; crisis management – what the board needs to do
- How mergers and acquisitions can destroy value: how the board can avoid the pitfalls
Shareholders, Stakeholders, and the Board
- Disclosure and financial reporting ‘best practices’
- Earnings management: when and when not
- Investor relations: the practicalities for the board
- Communicating governance inside and outside the company
- Shareholders and their rights
- Shareholder stewardship; communications between board and shareholders
- Growing shareholder activism – the international perspective
- Managing the annual shareholders’ meeting
- Case study: Prudential and AIA – Time for a Review of Strategy and Engagement with Shareholders.
Improving Corporate Governance in your Company
- A practical guide to developing corporate governance best practices in your company:
- Assigning responsibility for corporate governance within the company
- Integrating good corporate governance in your company
- What the board needs to do
- What management needs to do
Course summary and close
Our Tailored Learning Offering
Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.
If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.
We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.
We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.
We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:
- Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
- Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
- Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
- Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
- Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
BiographyThe course instructor is a New York-based specialist with over thirty five years of experience in finance and the international capital markets. For eleven years he was Senior Vice President of Moody’s Banking & Sovereign Risk Group in New York, responsible for the transitional and emerging markets of East and South Asia, as well as institutions headquartered in the United States and European countries. Prior to his service with Moody’s, hewas a senior executive for major North American banks, with responsibilities in London, Toronto, and New York. The instructor now specialises in corporate governance, risk analysis and management, and strategic development, with a particular emphasis on advising companies and banks in transitional and emerging markets. He regularly conducts corporate governance and director accreditation workshops for company management and directors: he also undertakes corporate governance assessments and reviews, leads ‘best practices’ implementation, and conducts board evaluations for private and public companies. His recent projects have included advising central banks, stock exchanges and other regulators on the preparation and implementation of corporate governance codes and principles. Other recent projects have included building internal risk rating systems, the development of strategic plans for emerging market companies, and advising central banks in several European and Asian countries on risk-based prudential bank regulation, and Basel II & III requirements and methodologies. The instructor is well known as a challenging and entertaining presenter. He was born in England, and studied law at the University of Oxford; he now lives in New York.
The map attached details some of our most frequently used venues
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