Bank directors are in a position of leadership to support and benefit bank management by offering supervision that facilitates the operation of a safe, sound and ethically strong organization. They do this by being engaged, asking questions, and eliciting any facts necessary to satisfy themselves that management’s strategies are viable and, in the bank’s best interests. This is “credible challenge”.
What You’ll Learn
After successfully completing the course, you will be able to:
- Explain a board member’s responsibility for credible challenge
- Recognize when to challenge management
- Describe how to prepare to make a credible challenge
- Describe the benefits provided by an engaged and informed board of directors