1.Responsibilities of the board
On behalf of the key stakeholders, the Board of XXXX is responsible for the active stewardship of the organisation to ensure the future well-being of the organisation for members and other current and future stakeholders.
The Board’s legal duty is to the [Association] as a whole. In meeting this duty the Board must ensure that all legal requirements under the relevant Acts and regulations are met and that the entity is protected from harmful situations and circumstances in the interests of both current and future stakeholders.
- Provides leadership to XXXX ensuring that the organisation fulfils its purpose and acts in the best interests of XXXX and its members and other stakeholders.
- Determines and articulates XXXX’s purpose and values, sets the strategic direction as the basis for further planning (e.g. annual and longer term planning), and oversees the selection and implementation of strategies consistent with that purpose and those values.
- Determines the appropriate culture for XXXX and models behaviours that both reflect and promulgate the desired culture.
- Establishes governance policies that provide the framework for the management of XXXX e.g. financial, human resource, asset management policies etc and ensures that internal processes and procedures are designed to provide effective controls and serve as the basis for reporting to the board as required
- Appoints and employs the Chief Executive and monitors management and organisation performance against board-established criteria.
- Identifies and characterises potential organisational risks and creates a framework for their management and monitoring.
- Ensures that the organisation satisfies all internal and externally imposed compliance requirements including all applicable laws, regulations and codes of best practice.
- Takes an active role in succession planning ensuring that the board contains directors with an appropriate mix of skills, knowledge, and experience whether, individually, they are elected or appointed.
- Establishes and maintains an effective interrelationship with stakeholders in general, and serves, in particular, the legitimate interests of the members of the Association and accounts to them fully.