As PRA and FCA compliance transitions to “Outcomes Based Regulation”, understanding if your Board is meeting their expectations is critical. If it is not, then your Mutual runs the risk of regulatory censure, fines, reputational harm and members suffering financial loss. Such consequences can also apply to individual Board members through the Senior Manager’s regime.

We have a deep understanding of the opportunities and challenges faced by Boards in the Credit Union, Friendly Society, Mutual Insurance and Building Society sectors. We have regularly conducted Board Governance Reviews as consultants, and we have also been on the “receiving end” of reviews as employees. Our breadth of understanding of all types of Board review is extensive.

Central to meeting the new regulatory framework is firstly aligning the culture and values of the Board to the outcomes the business must achieve and, secondly, equipping the Board with the tools and expertise to govern effectively.

Our purpose is:

“To strengthen how Boards are constructed, operate, take decisions and deliver effective oversight so that governance is a genuine asset, not a “tick box” exercise”.

We identify improvement areas and gaps to be remedied. The techniques we use are - 

·      Board Governance Reviews

·      Risk Frameworks

·      Provision of Board Policies and Procedural Action Plans

·      Governance Collateral

·      Chair Advisory

·      NED and SMF mentoring/support

A high performing Board is always beneficial to member interests.

In the Mutual sector, value for money is essential and our pricing policy recognises this.

If you would like to discuss Board Governance with us then get in touch for a free consultation.