Developing an Effective Governance Operating Model
A guide for financial services boards and management teams
In recent years, many boards of directors in the financial services industry have been working to bolster the effectiveness of their organizations’ governance models.
A governance operating model may assist the board and management in fulfilling their governance roles.
This paper, prepared for board members, board committee members, senior executives, and risk managers at financial services companies, aims to assist boards and others with governance roles in developing a robust governance operating model.
In recent years, many boards of directors in the financial services industry (FSI) have been working to bolster the effectiveness of their organizations’ governance models. Concurrently, senior executive teams have committed resources to enhancing governance frameworks. However, many FSI companies may have come to realize that work remains if they are to operationalize the structures and institutionalize the principles they have adopted. A governance operating model may supply the “how” that board members seek and can reveal gaps or shortcomings in board or management committee charters.
Read this paper to learn how board members, board committee members, senior executives, and risk managers at FSI companies can leverage and implement an effective governance operating model to assist the board and management to specify ways of implementing governance, and promote clarity and understanding of the ways in which people in governance roles and in management roles execute their responsibilities.