Supervisory / Advisory Board / Non-Exec Directors
The professionalization of the Supervisory / Non-Executive / Advisory Board is crucial for the quality of its work.
Increasingly, supervisory board members and management board members are also held personally liable if, for example, corporate structures do not allow timely risk identification and compliance assurance.
One Example is the implementation of a Compliance Management System in line with ISO 37301:2021: this international standard is applicable to “… all types of organizations regardless of the type, size and nature of the activity, as well as whether the organization is from the public, private or non-profit sector.” (see ISO 37301:2021)
Conversely, it is precisely the establishment of timely structures and operationalization, e.g. in the implementation of effective compliance and corporate governance, that can have a penalty-reducing effect for board members and CxOs.
Various new regulations on ESG matters, data protection, whistleblowing and supply chain (scope 3) labor conditions, to name a few, need to be tackled either directly or at least indirectly in B2B settings upon corporate customers’ compliance demand. Further more to come in the near future, as can be seen e.g. from current discussion on implementing SOX-like accountability structures for Cyber Security and IT-Systems: As this is discussed e.g. within ISACA, it shows that (personal) accountabilities are likely to increase for those in charge of a company.
Being member of various boards in North America and Europe throughout the last 25 years and as Director of the Institute of Compliance & Corporate Governance, Stefan Vieweg himself has an extensive practical and research knowledge concerning coping with new regulatory requirements and their proper implementation.
In own research (the “Compliance On Board Index” CoBI), we have shown that while large corporations are fairly good at setting up compliance structures, in particularly the operationalization (e.g. building an aware “compliance”-culture) is extremely hard. Though, the effort is sustainable and pays off economically as well
The professionalization of the Supervisory / Non-Executive / Advisory Board is crucial for the quality of its work.
Increasingly, supervisory board members and management board members are also held personally liable if, for example, corporate structures do not allow timely risk identification and compliance assurance.
Conversely, it is precisely the establishment of timely structures and operationalization, e.g. in the establishment of effective compliance and corporate governance, that can have a penalty-reducing effect.
We provide support such that utilizing digitalization and professional change management, a healthy and sustainable implementation of relevant Compliance, ESG / CSR, Finance and IT measures can be made.
Clear evidence shows that “candorship” i.e., openness, transparency and “no FOG” (FOG – Facts Obfuscating Generalities) really pays off:
We provide support such that utilizing digitalization and systemic change management, a healthy and sustainable implementation of relevant Compliance, ESG / CSR, Finance and IT measures can be made.
How does this work out for me?
In a direct (remote and free of charge) INITIATION SESSION (1h) we will check your current board composition, potential improvement areas or advisory needs and concrete risks.
Based thereon, we typically offer to carry out context-specific FACT FINDINGS (similar to internal audits, extended with independent, external advise).
For higher efficiency, we suggest an agile working mode with biweekly client-participating reviews on predefined deliverables and flexible agile contract. This enables quick feedback and adjustments as necessary.
In other words, the typical approach is
- Quick
- Delivering tangible results continuously
- Low risk, as the agile contract ensures required skill capacity and allows for adjustments as required.
Book Complementary Fact Finding
