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Board Report: 2017-FMIC-B-020 December 11, 2017

The Board’s Organizational Governance System Can Be Strengthened

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An organization's governance system determines how decisionmaking, accountability, controls, and behaviors help accomplish its objectives. We assessed how the Board's organizational governance system aligns with selected governance principles and benchmark organizations.

Although in alignment with benchmark organizations and selected governance principles, the Board's core governance structures could be strengthened by

  • codifying and regularly reviewing standing committee expectations
  • preparing Governors for their roles through an enhanced orientation and a formal process to select dedicated advisors
  • improving communication with Governors and information sharing among Governors
  • clarifying the role of the Chief Operating Officer
  • codifying and regularly reviewing Executive Committee expectations

This report contains recommendations to address these findings.