Videos

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In the third episode of “Setting the Board Agenda,” Brian Stafford, President & CEO of Diligent, speaks with Dr. Dambisa Moyo, board member of Chevron and Condé Nast to discuss the way boards evaluate and prioritize geopolitical risks during an election year. Highlights of their conversation include:

• The uncertainty in geopolitics, the macro economy, and the general operating model is at the top of board agendas. Previously, boards would plan their investments for the next three to five years. However, now, the planning period has been reduced, with the primary concern being how the organization is going to survive the year ahead.
• The role of the board in overseeing an organization’s risks is crucial. The board should never be caught off guard. If there’s a surprise in the direction or magnitude of the risk, it should be manageable for the board to help the company weather the storm.
• No organization is immune to risk. Risk mitigation involves anticipating potential issues to ensure they don’t incapacitate an organization once identified. Risks should also be used to strategize and adjust future investments accordingly.
• Dr. Moyo’s recommendation for those attending their first board meeting: listen and observe. Attending your first board meeting is like showing up in the middle of a movie. You need to figure out the plot and characters before asking questions.

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Brian Stafford and Maggie Wilderotter discuss the evolution of the board and its role in managing and overseeing risks, talent development and CEO succession planning.

In this episode of Inside Today’s Boardrooms, Matt Seto, Principal at Meridian Compensation Partners, discusses how boards and compensation committees can design resilient executive compensation programs in the current macroeconomic climate. He talks through the benefits and challenges of diversifying incentive plans, the best practices for setting effective targets, and the types of analysis and data that compensation committees should request from management.

• How can diversification help compensation committees align executive pay with long-term performance and shareholder interests?
• What are the key factors and considerations for setting realistic and motivating targets in incentive plans?

In this inaugural episode of "Setting the Board Agenda," Brian Stafford, President & CEO of Diligent, sits down with Steve Hasker, President & CEO of Thomson Reuters, to discuss the intricacies of AI, its monumental influence on ane organization and the inherent risks it presents.

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Teachers Mutual Bank Limited (TMBL) is one of the largest customer-owned banks in Australia, servicing over 234,000 members across the education, emergency services and healthcare sectors. TMBL’s purpose is to be a force for good, for those who do good.

Sara Nguyen, Chief Internal Auditor at TMBL, says her team found that traditional audit methods could not keep pace with today’s elevated business expectations, rapidly shifting business landscape and resources.

To continue supporting the organisation and help it stay true to its purpose, the internal audit team needed to evolve. They knew they had to move away from manual tasks and their heavy reliance on spreadsheets if they wanted to be more efficient and effective.

TMBL found its “all-encompassing solution” in Diligent products. The company adopted Diligent’s Audit Management and ACL Analytics solutions — part of the Diligent One Platform — to manage and optimise its internal audit practice. TMBL also employs Diligent Boards to streamline and secure its board and committee management.

The results?

With Diligent, the internal audit team is achieving its goal of being more efficient. Diligent’s tools help advance the bank’s automation aims, increasing efficiency and innovation. The TMBL audit team uses Diligent to gain better insights, formulate strategic advice for the organisation, improve transparency and collaboration, and foster better relationships between various stakeholders.

Download the full case study to learn more about how TMBL streamlined their audit processes and improved transparency and communication by implementing the Diligent One Platform.

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