Board Essentials Module 5: Board Membership Basics
Board Membership Basics
The bank’s board of directors has ultimate responsibility for
managing and directing the bank. Although the board is permitted to
assign specific operational functions to bank officers, their
responsibility for the bank’s management and control cannot be
delegated. The board is responsible for appointing qualified persons as
officers and for evaluating the officers’ management performance. The
bank’s officers report directly to the board and must be approved
annually. Other major board responsibilities include:
- Establishing and approving the bank’s overall business goals, standards, policies, and procedures
- Reviewing and evaluating the bank’s operating results and performance
- Ensuring that the bank complies with all applicable laws and regulations
Moreover, board members must adhere to high standards of ethics and
confidentiality which require them to avoid conflicts of interest and
self-serving practices. This program will explain directors’ compulsory
legal responsibilities.
Duration 30-minutes
Presented By
Spencer Fane LLP
This Webinar Appears In
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