Upcoming Events

Sep
10
Tue
2019
9:00 am How to become a Non-Executive Di... @ The Waterfront
How to become a Non-Executive Di... @ The Waterfront
Sep 10 @ 9:00 am – 4:30 pm
Are you thinking of becoming a Non-Executive Director as part of a Portfolio Career or to develop your boardroom skills prior to taking up an executive director role? <img data-attachment-id='211' data-permalink='https://nedworks.net/how-to-become-a-non-executive-director-bristol-21-january-2013/boardroomlr/' data-orig-file='https://i1.wp.com/nedworks.net/wp-content/uploads/2013/01/boardroomlr-e1403708151819.png?fit=600%2C486&ssl=1' data-orig-size='600,486' data-comments-opened='0' data-image-meta='{'aperture':'0','credit':'','camera':'','caption':'','created_timestamp':'0','copyright':'','focal_length':'0','iso':'0','shutter_speed':'0','title':''}'[...]
Oct
8
Tue
2019
9:00 am The Effective Non-Executive Dire... @ Institute of Directors
The Effective Non-Executive Dire... @ Institute of Directors
Oct 8 @ 9:00 am – 4:30 pm
The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge. <img data-attachment-id='113603' data-permalink='https://nedworks.net/10-things-non-executive-directors-can-do-to-satisfy-their-legal-responsibilities/ned3-2/' data-orig-file='https://i1.wp.com/nedworks.net/wp-content/uploads/2015/04/NED31.png?fit=1500%2C883&ssl=1' data-orig-size='1500,883' data-comments-opened='0'[...]
Oct
22
Tue
2019
9:00 am How to become a Non-Executive Di... @ Institute of Directors
How to become a Non-Executive Di... @ Institute of Directors
Oct 22 @ 9:00 am – 4:30 pm
How to become a Non-Executive Director – London 22 October 2019 @ Institute of Directors
Find out how you can obtain a Non-Executive Director position by booking a place on this interactive 1-day course. <img data-attachment-id='113603' data-permalink='https://nedworks.net/10-things-non-executive-directors-can-do-to-satisfy-their-legal-responsibilities/ned3-2/' data-orig-file='https://i1.wp.com/nedworks.net/wp-content/uploads/2015/04/NED31.png?fit=1500%2C883&ssl=1' data-orig-size='1500,883' data-comments-opened='0' data-image-meta='{'aperture':'0','credit':'','camera':'','caption':'','created_timestamp':'0','copyright':'','focal_length':'0','iso':'0','shutter_speed':'0','title':'','orientation':'0'}' data-image-title='NED3' data-image-description=' ‘ data-medium-file=’https://i1.wp.com/nedworks.net/wp-content/uploads/2015/04/NED31.png?fit=300%2C177&ssl=1′ data-large-file=’https://i1.wp.com/nedworks.net/wp-content/uploads/2015/04/NED31.png?fit=695%2C409&ssl=1′ class=’alignright size-medium wp-image-113603′ src=’https://i0.wp.com/www.nedworks.net/wp-content/uploads/2015/04/NED31-300×177.png?resize=300%2C177&ssl=1′[...]
Nov
6
Wed
2019
9:00 am The Effective Non-Executive Dire... @ Institute of Directors
The Effective Non-Executive Dire... @ Institute of Directors
Nov 6 @ 9:00 am – 4:30 pm
The effective Non-Executive Director course helps you to be an effective non-executive director. It instils a real sense of what is expected of NEDs, and how you can meet the challenge. <img data-attachment-id='113603' data-permalink='https://nedworks.net/10-things-non-executive-directors-can-do-to-satisfy-their-legal-responsibilities/ned3-2/' data-orig-file='https://i1.wp.com/nedworks.net/wp-content/uploads/2015/04/NED31.png?fit=1500%2C883&ssl=1' data-orig-size='1500,883' data-comments-opened='0'[...]

Advisory, Conciliation and Arbitration Service (Acas) – Chair

Chair – Advisory, Conciliation and Arbitration Service (Acas) Recruiter: Odgers Berndtson Location: London Salary: £120,000 – £130,000 pro rata for two to three days per week Posted: 18 Jul 2019 Closes: 22 Aug 2019 Ref: 73119 Job Function: Chair Industry: Public, Central Government Position Type: Permanent Chair – Advisory, Conciliation and Arbitration Service (Acas) London […]

The post Advisory, Conciliation and Arbitration Service (Acas) – Chair appeared first on NEDworks.

[…]

Film London – 4 Board Members

4 Board Members – Film London Recruiter: Film London Location: London Salary: Unpaid but all appropriate travel, hospitality and administrative expenditure is reimbursed. Posted: 10 July 2019 Closes: 2 September 2019 Job Function: Board Member Industry: Creative, Film and TV Board Membership Film London wishes to appoint four new members to the Board of Film […]

The post Film London – 4 Board Members appeared first on NEDworks.

[…]

Outsourcing: the risks and rewards of a multi-faceted tool

global outsourcing

Discussion of outsourcing has travelled a long way. Once used to cut costs, the process of transferring in-house processes and functions to an external provider has now become a core part of achieving strategic advantage.

Tony Stanbrook, outsourcing partner at Mazars UK, says: “In previous years, cost was certainly the primary driver to outsource but clients are increasingly looking to other factors.

“With the breakneck speed of development in the finance function and the need for medium and large organisations to constantly evolve their finance organisation through acquisition, merger or growth, outsourcing can provide a speed advantage to reach a desired target operating model.”

To mark the increasing importance and complexity of outsourcing, Board Agenda, in conjunction with Mazars, has produced a detailed exploration of the sector in Boardroom Insights: The Risks and Rewards of Outsourcing.

Outsourcing has become a sophisticated and multi-faceted tool. Beginning in the 1980s, it has grown to become a global industry worth hundreds of billions of dollars annually. But there are issues to consider.

Technological developments mean artificial intelligence and automation are transforming outsourcing services. Software “robots” make work possible 24/7/365, at a fraction of the cost of traditional workers.

The risks and challenges means it is essential for boards to find the right comfort level for ceding control of company functions, while new legislation—specifically General Data Protection Regulation—has introduced the potential for significant penalties in the event of a data breach. Cloud computing has become the default solution, bringing its own challenges.

José Canada, managing partner at Mazars Switzerland, says: “When it comes to the use of cloud computing it is crucial that the board establishes an adequate IT strategy together with a data governance policy.”

Ethical considerations

Outsourcing also comes with its own ethical considerations. Outsourcing services to low-wage jurisdictions raises key questions for boards. Indeed, just because a company outsources doesn’t mean it no longer has responsibility for ensuring an ethical supply chain and compliance with workers’ rights legislation. Failure to do so can come with regulatory implications as well as reputational damage.

Meanwhile, outsourcing developments show no sign of slowing. Indeed, the term outsourcing no longer reflects the entire range of services available, while providers have embraced new technologies to move away from “headcount-based” models of service provision.

And as they do that there is a trend for providers to integrate as far as they are enabled into the operations of their customers.

Given the strategic advantages of outsourcing and the developments that make it ever more cost effective, its use is only likely to increase. Being well-informed about the risks and opportunities has undoubtedly become a core component of boardroom responsibilities.

To download the full report click here

The post Outsourcing: the risks and rewards of a multi-faceted tool appeared first on Board Agenda.

[…]

Outsourcing: the risks and rewards of a multi-faceted tool

global outsourcing

Discussion of outsourcing has travelled a long way. Once used to cut costs, the process of transferring in-house processes and functions to an external provider has now become a core part of achieving strategic advantage.

Tony Stanbrook, outsourcing partner at Mazars UK, says: “In previous years, cost was certainly the primary driver to outsource but clients are increasingly looking to other factors.

“With the breakneck speed of development in the finance function and the need for medium and large organisations to constantly evolve their finance organisation through acquisition, merger or growth, outsourcing can provide a speed advantage to reach a desired target operating model.”

To mark the increasing importance and complexity of outsourcing, Board Agenda, in conjunction with Mazars, has produced a detailed exploration of the sector in Boardroom Insights: The Risks and Rewards of Outsourcing.

Outsourcing has become a sophisticated and multi-faceted tool. Beginning in the 1980s, it has grown to become a global industry worth hundreds of billions of dollars annually. But there are issues to consider.

Technological developments mean artificial intelligence and automation are transforming outsourcing services. Software “robots” make work possible 24/7/365, at a fraction of the cost of traditional workers.

The risks and challenges means it is essential for boards to find the right comfort level for ceding control of company functions, while new legislation—specifically General Data Protection Regulation—has introduced the potential for significant penalties in the event of a data breach. Cloud computing has become the default solution, bringing its own challenges.

José Canada, managing partner at Mazars Switzerland, says: “When it comes to the use of cloud computing it is crucial that the board establishes an adequate IT strategy together with a data governance policy.”

Ethical considerations

Outsourcing also comes with its own ethical considerations. Outsourcing services to low-wage jurisdictions raises key questions for boards. Indeed, just because a company outsources doesn’t mean it no longer has responsibility for ensuring an ethical supply chain and compliance with workers’ rights legislation. Failure to do so can come with regulatory implications as well as reputational damage.

Meanwhile, outsourcing developments show no sign of slowing. Indeed, the term outsourcing no longer reflects the entire range of services available, while providers have embraced new technologies to move away from “headcount-based” models of service provision.

And as they do that there is a trend for providers to integrate as far as they are enabled into the operations of their customers.

Given the strategic advantages of outsourcing and the developments that make it ever more cost effective, its use is only likely to increase. Being well-informed about the risks and opportunities has undoubtedly become a core component of boardroom responsibilities.

To download the full report click here

The post Outsourcing: the risks and rewards of a multi-faceted tool appeared first on Board Agenda.

[…]

Worcestershire Health and Care NHS Trust – Non-Executive Director

Non-Executive Director – Worcestershire Health and Care NHS Trust Worcestershire Health and Care NHS Trust is looking for a Non-executive Director (NED). This is an exceptional opportunity to share your talents and expertise to make a positive difference to the lives of people served by the Trust. The opportunity Ref: M2038 There is a vacancy […]

The post Worcestershire Health and Care NHS Trust – Non-Executive Director appeared first on NEDworks.

[…]

Somerset Partnership NHS Foundation Trust – Non-executive Director

Non-executive Director – Somerset Partnership NHS Foundation Trust Somerset Partnership NHS Foundation Trust is in the process of a proposed merger with Taunton and Somerset NHS Foundation Trust from 1 April 2020. The trust is looking for a Non-executive Director to join its dynamic Board and the Board of the merged organisation. Somerset Partnership NHS […]

The post Somerset Partnership NHS Foundation Trust – Non-executive Director appeared first on NEDworks.

[…]

Human rights due diligence push ‘could turn boards into legal departments’

human rights, modern slavery, supply chains

It’s become a commonplace approach among lawmakers and regulators: if you want to enforce new rules, get big companies to do it for you among their suppliers. And so it is with human rights due diligence. Although there are concerns that while this approach could bring about compliance, it might dissuade companies from introducing the very business models needed to safeguard human rights.

EcoDa, the European Confederation of Directors Associations, has made it clear that due diligence in supply chains—forcing big companies to regulate the behaviour of their suppliers—could be counterproductive. Indeed, statements from ecoDa’s policy chief suggest that enforcing due diligence could turn board directors into “legal departments”, distracting them from the essential work of ensuring sustainability.

In an interview given to the British Institute of International and Comparative Law, Michel de Fabiani, chair of ecoDa’s policy committee, said: “Directors can set for the management the expectations but turning boards into legal departments will not bring more capabilities and real engagement of board members.

“Regulators should remember that the primary purpose of boards is to deal with strategy, control of the executives, including risk management processes.”

The European Commission is currently working its way through a study on the possibility of introducing laws to make human rights due diligence mandatory for EU companies.

Jan Wesseldijk, ecoDa’s chair, said in a statement that companies should not be responsible for the obligations of politicians.

“When it comes to environmental and social issues, it is up to the regulators to define the playing field within which companies may freely operate. They cannot just offload their police role through board members.”

Enforcing responsibility

The issue of due diligence has become an increasingly sensitive issue as politicians grapple with ways to enforce higher degrees of corporate responsibility in response to pressure from the public and lobby groups.

The commission is looking at human rights due diligence following a request from the European Parliament in June last year. Since then there has been much activity to convince the commission that reforms are necessary.

In April this year a coalition of campaign groups, including Greenpeace, Oxfam and Amnesty International, called for new laws to make due diligence for human rights and environmental standards mandatory.

A joint statement from the group says the call was driven by concerns that many companies are “linked to serious abuses; exploitative working conditions, including modern slavery and child labour, toxic pollution, rampant destruction of rainforests; land grabs and evictions of indigenous peoples and local communities; and violent attacks on human rights defenders.”

Mandatory due diligence, they say, would “give consumers the confidence that human rights abuses and environmental damage aren’t part of the price tag for products.”

Given the range of institutions pushing for greater due diligence, ecoDa and other business groups may struggle to resist further measures from the European Commission. In July last year the UN’s working group on business and human rights stressed the importance of due diligence. It said: “Human rights due diligence provides the backbone of the day-to-day activities of a business enterprise in translating into practice its responsibility to respect human rights.”

Some national governments are attempting to get ahead of the commission. In February, German legislators introduced a draft law asking companies to not only monitor their own behaviour for human rights issues, but also the behaviour of business partners.

The protests may be correct: forcing companies to police the behaviour of suppliers and partners may have unintended consequences. Lawmakers, however, appear keen to push ahead nonetheless.

The post Human rights due diligence push ‘could turn boards into legal departments’ appeared first on Board Agenda.

[…]

Official Statistics: Individual Insolvencies by Location, Age and Gender, England and Wales, 2018

Official statistics for individual insolvencies in England and Wales from 2000 to 2018, broken down by region and local authority areas; age; and gender. […]

Financial watchdog moves to strengthen audit ethics

audit, audit ethics

Given the frequency of trouble facing auditors in recent years, there was bound to be a reaction. While the government continues to wrestle with reforming the audit market and audit regulation, the current watchdog, the Financial Reporting Council (FRC), has moved to tighten the ethical rules for auditors.

Changes include a beefed-up “third party” test designed to improve auditor independence; a new, shorter list of “permitted” extra services an auditor can provide replaces the previous list of prohibited services; and a stronger role for an “ethics partner” inside audit firms to take responsibility for behaviour and conduct.

Stephen Haddrill, the outgoing chief executive of the FRC, said that recent events had demonstrated that standards were in need of improvement. He added that current monitoring work by the watchdog continued to reveal that professional scepticism and independence of auditors remained a concern affecting the industry.

“The UK will only continue to attract high-quality global investment if investors have confidence in the independence if authors and the means to have a better understanding of the critical judgements those auditors make,” Haddrill said.

Inside the FRC—which is preparing to transfer to a new regulator with strengthened powers—there is also a belief that Brexit, should it happen, will also place a premium on strengthened corporate governance.

A designated ethics partner will be responsible for “policies and procedures relating to the integrity, objectivity and independence” of the audit firm. If a firm of auditors decides the ethics partner’s opinion is “not to be followed” the matter has to be reported to the audit firm’s independent non-executives, thus escalating the clash.

In a report, the FRC said changes to the role of the ethics partner were made to “ensure firm-wide focus on ethical matters and the public interest, and to require reporting to those charged with governance.”

In switching auditing ethics from an index of banned services to a list of permitted activities, the FRC hopes to remove ambiguities and deal with a growing lack of confidence in audit. Changes were made in 2016, but the FRC felt it should go further.

The FRC’s report says it received “consistent feedback” from stakeholders that “fees earned by the firms by providing non-audit services to entities they audit has resulted in declining confidence in the ability of those firms to provide truly independent an rigorous assurance.”

Audit under scrutiny

Concern about audit has been at fever pitch with a host of reviews ordered to place the profession and its work under close scrutiny. The Kingman Review advised replacing the FRC with a new audit body with more powers. The Competition and Markets Authority (CMA) called for mandatory joint audits, separation of audit firms from other services and public reprimands for audit committees that fail to provide adequate scrutiny of their auditors.

Currently another review, by Sir Donald Brydon, is examining the scope of audit, its quality and effectiveness. The government is waiting for results from the Brydon Review before moving to propose legislation; it is expected to report towards the end of the year.

Meanwhile, the litany of audit issues seen by the FRC continued up to early July when audit firm Grant Thornton was placed under “increased scrutiny due to sustained poor results” and the watchdog concluded one in four audits were “below acceptable standard”. Grant Thornton is under investigation for its audit of Interserve, the support services group.

In June PwC and two partners were fined a total of £4.7m for work on audits of Redcentric plc, an IT provider.

In April KPMG was fined £6m for audit work at Equity Syndicate Management. KPMG also also faces disciplinary proceedings over its audit of the bank BNY Mellon. But the firm has become most notorious for the audit of failed construction giant Carillion which collapsed at the end of 2018. The FRC’s investigations into the audit and conduct of former finance directors were extended in February.

Elsewhere, Deloitte and a partner were fined a total of £6.65m over the audit of Serco Geografix. Serco had become subject to investigations over fraud relating to electronic tagging services provided to the Ministry of Justice. The Serious Fraud Office concluded a deferred prosecution agreement with the company at the beginning of July, in which it agreed to pay a penalty of £19.2m and costs of £3.7m in relation to three offences of fraud and two claims of false accounting.

The post Financial watchdog moves to strengthen audit ethics appeared first on Board Agenda.

[…]

CEOx1Day: Giving future leaders a taste of the top job

Kester Scrope, Isabelle Mettan-Ure, CEOx1Day, Odgers Berndtson

‘I hope she got a sense of the breadth of a leader’s role’

Kester Scrope, CEO of Odgers Berndtson, on his day with Isabelle Mettan-Ure.

At Odgers Berndtson we are very privileged to have extraordinary relationships with business leaders across the world. We had this firmly in mind when we launched the CEOx1Day initiative around a decade ago. Put simply, this is a way for us to use our networks in a very personal way to help young people about to leave full time education and go to work.

We have 61 offices across the world and have run the programme internationally for many years—a genuinely global initiative. We are hugely grateful to hundreds of the world’s top business leaders for getting involved. In the UK this year the participating leaders were from a diverse range of businesses, including the CEOs of Visa, Sainsbury’s, ITV, Domino’s Pizza Group, Barnardo’s and The Royal Mint.

For me, I suspect like other participating CEOs, taking part in CEOx1Day is a refreshing opportunity to see our businesses and roles through new eyes from a different perspective.

From the moment Isabelle arrived I was struck by the honesty, enthusiasm, curiosity and openness that a day like this can bring. Also, her confidence. Isabelle was very ready to participate and offer her views—in no sense was she cowed by the new environment she found herself in.

Taking part in CEOx1Day is a refreshing opportunity to see our businesses and roles through new eyes from a different perspective

Our day was not scripted, if anything it was too full, allowing less time to brief and debrief than I would have liked.

Our first meeting was with Jeremy Gilley, the founder of Peace One Day, which is an extraordinary charity that strives for a world without violence. He had generously offered his time to talk to our people in London about both his charitable work and contribute to our inclusion festival that was running (where we celebrate the diversity within our people here). Isabelle’s engagement with the subject and what he was saying was a clear reminder of the importance all leaders have to engage with a sense of mission and purpose beyond the purely commercial if we are to motivate and engage people to do great things.

Our ethos here is recognising that our work makes a difference, directly impacting on the lives of people and the health of our client’s organisations. This sense of mission is clearly something that Isabelle could relate to.

CEOx1Day has a strong sense of purpose. In the UK and globally we enjoy a leading position in the education sector, working with a wide range of universities—from the Russell Group and beyond. Our students reflect this diversity too, in terms of academic institution, background, sex, ethnicity etc.

I hope she saw the importance of the individual and people in an organisation—that businesses are made up of individuals, and that there is a human scale however large or broad the business

My student for the day, Isabelle, is studying at Lincoln University, (coincidentally the university’s vice chancellor, Professor Mary Stuart, is one of the participating CEOs).

I’d like to think Isabelle was struck by the variety of tasks in a leadership role but that a unifying purpose means that all activities make a collective sense. In our case activity ranged from a management meeting with the MD of our Asia-Pacific business to staff meetings, meetings with business heads and even the agony of a photo shoot on the roof.

If nothing else, I hope she went away with a sense of the challenges, variety and breadth of a leader’s role. I also hope she saw the importance of the individual and people in an organisation—that businesses are made up of individuals, and that there is a human scale however large or broad the business.

I would like thank Isabelle for helping me look at my job in a different way for the day and realise how lucky I am to do what I do with the people I do it with.

‘Everything comes back to how you communicate with others’

Isabelle Mettan-Ure, product design student at the University of Lincoln, on her day with Kester Scrope, CEO of Odgers Berndtson.

Leadership takes more than just the will to succeed, it’s takes an individual who has the understanding and trust of the people around them to guide the way.

If only I could get there! The tubes go down, panic, fire alert at Morden and the Northern Line suspended; it seemed not even the extra hour of time I allocated could save me. I may not be able to rely on the underground network but there was no doubt that I was a good source of quality entertainment for the early morning commuters, a spectacular sight of The Apprentice meets sweaty London Marathon day.

A quick breather and brush down in the lift and I was ready to go, greeted warmly by an expectant Kester Scope, CEO of Odgers Berndtson. Straight in and the day began with a briefing of the exciting, chock-a-block schedule that lay ahead of us. It was this point that the enormity of what I was experiencing sank in: such a privilege to be in this beautiful office adjacent to Saint Paul’s, let alone at the side of Kester. It really was an opportunity which I never expected to gain when submitting my application six months prior.

It was a brilliant opportunity to see Kester in action, as well as understand how Odgers Berndtson operates in a vast range of different faculties and on such a detailed level

The first of the morning meetings set the tone for the rest of what was an incredible day: breakfast with Jeremy Gilley, founder and creator of Peace One Day, which is a fixed calendar date of “global ceasefire and non-violence”. From the outset, Kester drove direction but with consideration, praise and interest in both Jeremy as an individual and what he had accomplished. Even I was given the time to contribute, to speak passionately about my own core values and my vision for a future of shared experiences, harmony and sustainability.

It is largely Kester’s strong respect for others that will stay with me. One of the reasons I applied for the CEOx1day opportunity in the first place was the hope to see this very trait in action. And, with such personal views on the importance of showcasing ideas within a leadership role I was certainly not disappointed. Without collaboration, without views that evolve with time, we cannot help innovate the traditional workplace or create an atmosphere where everyone feels they have a role to play.

After Jeremy completed his presentation to a wider audience of Odgers employees, we dived straight into a collective of back-to-back meetings including those with all the practice leaders and Asia-Pacific management teams. For me, it was a brilliant opportunity to see Kester in action, as well as understand how Odgers Berndtson operates in a vast range of different faculties and on such a detailed level.

Despite the busy schedule, Kester still made time and effort to connect with his colleagues both personally and professionally. This surprised me from someone of his position and taught me that everything comes back to how you communicate with others.

It seems CEOs don’t even have time for lunch, Kester poring over his emails as we both tuck into a tasty sandwich; it was a masterclass of multitasking, his dedication on full display. My appetite for asking questions didn’t seem to disrupt the flow either—I was amazed but also incredibly grateful that he took the time to answer, reflect and then even respond with an interest in my own career ambitions.

Despite the busy schedule, Kester still made time and effort to connect with his colleagues both personally and professionally

Some rather exciting PR shots later and after another detailed meeting, I got to oversee the work of one very remarkable lady: Baroness Virginia Bottomley, chair of the Odgers Berndtson board and CEO practice. Conducting searches for some of highest positions in public and private organisations, Virginia demonstrates how companies would simply fall apart it wasn’t for the dedication of individuals on every single level. Businesses are a complex puzzle of people and both Virginia and Kester are those critical corner pieces. It is their wealth of experience that forms the foundation to build upon. In short, leadership is exactly that; linkage, communication and direction.

Before I knew it this amazing day had drawn to a close and I couldn’t quite believe the pace at which it had flown by. I had learnt so much and yet there were still so many aspects of the CEO role left to explore.

My personal ambition is to lead the way in making memorable moments the key feature in our everyday lives as well as bring innovation into a workplace. In all, my CEOx1day has taught me that this is really is possible if you are able to lead with passion and responsibility.

Thank you to Kester Scrope and Odgers Berndtson for making this happen. It really was a remarkable insight and one that I would totally recommend. I hope this is the first of many fantastic experiences to come for myself and many others.

For more information about the scheme visit www.odgersberndtson.com/en-gb/ceox1day

The post CEOx1Day: Giving future leaders a taste of the top job appeared first on Board Agenda.

[…]