Foundations of Directorship for CMEs

The Foundations of Directorship program consists of six sessions delivered across three courses:

1. Governance for Directors
2. Finance for Directors
3. Strategy and Risk for Directors

Governance for Directors provides participants with an introduction to the functions of a co-operative and mutual board, the wide range of directors’ duties and responsibilities, the internal and external relationships of the board and best practice for conducting effective board meetings. Participants develop a deeper understanding of director performance best practice as well as compliance requirements. The two sessions are The Role of the Director and the Board, and Introduction to Board Meetings and Governance.

Finance for Directors provides a straightforward introduction to financial statements from the director’s perspective. Participants will explore the three key financial statements: the balance sheet, the income (profit and loss) statement and the cash flow statement, and discover how directors use these statements to monitor financial performance and to assess overall company performance at the board level. The course also examines the financial aspects of directors’ statutory duties and non-financial indicators of company performance. The two sessions are Introduction to Financial Statements for Directors, and Assessing Financial Performance for Directors.

Risk and Strategy for Directors provides participants with an understanding of how to focus on the long-term direction of their CME organisation, i.e. how to contribute to discussions about what the organisation is going to do and how it is going to achieve it. The course also discusses director knowledge of risk, with the aim of improving participants’ understanding of what risk is and of how risks faced by organisations are identified and measured. Participants will also investigate ongoing assessment and treatment of risk. The two sessions are Risk: Issues for Director, and Introduction to the Strategic Role of the Director.

Upon completion of the program, participants will be able to:

• identify the duties and responsibilities of a director
• outline governance and board meeting processes
• outline the director’s role in evaluating financial statements
• recognise the link between corporate strategy and financial performance
• identify the director’s role in formulating and monitoring strategy, and identifying and assessing risk

These courses are suitable for:

• new and aspiring co-op and mutual directors
• Company Secretaries, CEOs, CFOs and other executives seeking insights into working with member directors

AICD requires a minimum of eight weeks to develop and organise this program, subject to the availability of facilitators.  Facilitators will be engaged based on their backgrounds in working with and in co-operatives and mutuals while also accredited in this course content.

Delivery

This course will be available face-to-face and online.

Face-to-face is available:

• three-day program for a minimum of 12 participants and a maximum of 25 participants
• two-day program for a minimum of 12 participants and a maximum of 25 participants.
• one-day program for a minimum of 12 participants and a maximum of 25 participants
• half-day program for a minimum of 12 participants and a maximum of 25 participants

The online program is a three-day program and is available for a minimum of 12 participants and a maximum of 20 participants.

Price on application.

Assessment to gain the FOD Certificate

To attain the Foundations of Directorship Certificate, participants need to attend all three courses and successfully complete all three quizzes from all three courses of the Foundations of Directorship Program.  There is no credit from this course to other AICD courses.

Options:

• Option 1: Undertake all three courses, whether it be consecutive days or over three weeks, either face-to-face or online (then members are eligible to undertake the Assessment and gain the Certificate if successful)
• Option 2: Undertake a one-day course eg Governance for Directors, either face-to-face or online
• Option 3: Undertake a half-day course eg The Role of the Director and the Board, as part of your Roadshow

More information

Contact the BCCM for more information about this course and future course dates, or to discuss the training needs of your organisation.