The regulatory burden on senior executives is higher than ever before (so too are the risks of compliance failures). Governance best practice has become more complex and your marketplace is getting more, not less competitive. So the value of external evaluation of your board performance cannot be overstated.
For firms in the FTSE 350, externally supported board evaluation is required every two to three years. But savvy firms know this is a smart move regardless of size.
Independent evaluations ensure you’re following governance best practice and protecting your firm from regulatory mishaps. Honest appraisal of your board is the best way to improve performance and achieve greater market success.
Tailored support for your board
The scope of our evaluation depends on your objectives. Some firms engage us to check the completeness of their governance arrangements. While others require a root and branch evaluation of board and committee performance. Objectives for review have included:
• To assess how the directors work together and to make recommendations for improvement
• To review board and committee terms of reference for accuracy and completeness
• To map information flows between the board, its members and its committees
• To review board structure to achieve better representation of the executive team
Expert advice to improve performance
• Board and committee observations
• Strategy and performance objectives
• Individual interviews
• Psychometric testing
• Facilitated group sessions
• Desk-based reviews of governance documentation
• Reviews of board packs and minutes
• Individual questionnaires (online board questionnaire facility also available)
Why engage with us (and not our competitors)?
We’re experts at taking complex regulations and helping you apply the rules specifically to your firm (saving you a world of time, money and hassle).
We’re not consultants who just talk the talk. We’ve demonstrated our value time and time again with tangible and meaningful impact on board performance.
Our partners and senior associates are experts in their fields, with financial industry experience at the highest levels.
We’re easy to work with. We don’t rub people up the wrong way; we make change happen by bringing people together.
The value of independent board evaluation
Get fresh eyes on old problems – Our evaluation of your board will be impartial, objective and rigorous. This thorough independent review will better help you expose new issues and find solutions to existing problems.
Benchmark your board’s performance – With experience in firms of all shapes and sizes across the financial industry, we provide highly valuable insight into how boards in your sector perform. This will help you follow best practice and avoid common mistakes.
Send the right signals to your employees – Seeking independent support is a sign of strength, sending a message to your employees that senior management is subject to review, just as they are. It shows you’re in it together, and that you’re committed to improvement and best practice.
Improve your board’s knowledge – While you may not be specifically booking board training, during the evaluation process your senior team will benefit from exposure to our regulatory experts and industry insight.
Improve your internal reviews – Beyond externally facilitated reviews every two to three years, successful boards also conduct internal reviews more frequently. We help you improve the quality and integrity of these reviews, ensuring the process provides meaningful results.
To discuss next steps, please call us today on 0203 178 4230. Or email firstname.lastname@example.org.
Please get in touch today.
0203 178 4230
“To assist the board and staff in preparation for a visit by the regulator, FSTP have been of immense help and I would strongly recommend their services to any organisation preparing for such a visit.”
Risk and Compliance Director
Tyser & Co Ltd