Bank Directors Seminar, Coeur d'Alene, ID

11/09/2018

Leading the Charge for Change When fraud occurs, we often see the following board dynamics:

• The board is in name only (i.e., minimal involvement in organizational oversight or support) • Infighting / taking sides • The board is too large • The board is uninformed about how to read, understand and ask questions about financial data

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Fiduciary Duties of Board Members Becoming a director of a financial organization carries with it various fiduciary responsibilities, many of which are promulgated by regulatory authorities and state law.

Care

Loyalty

Obedience

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Fiduciary Responsibilities: Duty of Care

• Actively participating in the governance of the organization • Keeping accurate records • Voting • Obtaining adequate resources

• Overseeing assets • Ensuring there are

internal controls to aid in the protection of assets from fraud • Investigating potential

Care

or perceived asset mismanagement or misuse

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