PROTAGION
  • Proteges
    • Now What?
    • Career Support Guide
    • Career Goals >
      • Promotion / Raise
      • New Skills
      • Further Qualifications
      • Moving Countries
      • Switching: Consult/Contract/Startup
      • Transition: Specialism/Profession
      • Managing a Business
      • Portfolio Career
      • Purpose & Meaning
      • CPD
      • (Conference 1-5 Mar '21)
    • Example Professions >
      • Accounting
      • Actuarial
      • Asset & Investment Management
      • Risk Management
      • And more... >
        • Talent Management for Professionals
    • Our Services
    • Courses
  • Mentors
    • Encore Mentor
    • Featured Subset >
      • Anne - Australia
      • Boniswa - S Africa
      • Bradley - UK
      • Cherise - Nigeria
      • Hafsa - S Africa
      • Lee - Hong Kong
      • Lusani - S Africa
      • Margaret - S Africa
      • Michael - S Africa
      • Natasha - UK
      • Nikki - UK
      • Sumit - India
      • Trevor - UK
      • And More on our Protege Platform...
  • Subscribe
  • Platform Login
    • Login
    • Sign Up: Free
  • Stories
    • Our Stories & Articles
    • Our Principles
    • Books
We help professionals achieve their career goals
OUR STORIES
Over 150 career-related articles and counting... Scroll down to read
NEED MORE CAREER SUPPORT? Our professional mentors & coaches are here to help
Join our in-a-group facilitated sessions & explore your career questions with us​
SUBSCRIBE TO JOIN OUR
IN-A-GROUP SESSIONS

Non-Executive Director (NED) roles - questions to ask

28/11/2018

0 Comments

 
A number of our members have expressed an interest in Non-Executive Director roles as part of their longer-term career development, particularly as the composition of boards is changing over time to become more diverse across many dimensions including gender, background, and age. ​​
In support of these members’ ambitions, this post shares some questions individuals can ask before considering a non-executive directorship. ​
Picture
Boards of organisations (companies and other) consist of two main types of directors. The first is those who work for the organisation on a day-to-day basis, making decisions, leading the organisation, and implementing the organisation’s strategy. They are executive directors, and we’ve previously written about lessons learnt from shadowing executives. Executive assistant / business manager roles are a great way for ambitious talent to gain exposure to executive decision-making at an earlier stage in their careers.
​The second is those who are appointed by the organisation on a non-executive basis i.e. they don’t work within the organisation, and instead provide guidance and challenge from an external perspective. Via board meetings, they participate in the strategic decisions of the organisation, holding the executive directors responsible for execution. Often, non-executive directors perform this role for a few days a year (as part of a portfolio career), and hold multiple non-executive director positions across non-competing organisations. They use their stakeholder management skills to steer the organisation over time. As David Duffy, founder of The Governance Company based in Dublin, describes it on LinkedIn: “A NED role is a shift from the day-to-day corporate responsibilities to leveraging one’s own skills and experience in the boardroom environment”. In that way, they are almost like a mentor for the business, except that they have a regulatory responsibility too (as they are officially directors of the organisation, rather than consultants or advisors).
David further expands on the role of NEDs in the boardroom:
  • challenging accepted board wisdom
  • asking the right questions
  • utilising the board’s collective knowledge, experience and diversity of thoughts, including industry-specific knowledge, emotional intelligence and common sense
Above all, a NED needs to ensure that they know what the role entails and the duties, obligations, liabilities and risk that go with it. David counsels: “Becoming a NED is not for the ill-informed.”
​David’s LinkedIn post describes a number of questions individuals should ask when considering a specific Non-Executive Director role. We feel they are also helpful for others preparing themselves to take on these roles over the medium-to-long term.
1) What do I need to know about the company and its industry, including:
  • Future company strategy?
  • The company’s marketplace and key trends?
  • Regulations governing the industry?
  • Accounting and reporting methods used within the industry?
  • Risks within the industry?

2) How has the company performed over the last three years and what are its plans for the future (in the context of its past performance)?

3) Can I speak to previous members of the board and management team to ensure that I understand the ethics, values and culture of the organisation and to ensure that they are in line with my own?

4) What is the company’s record in relation to corporate governance?

5) What are the competencies, capabilities and weaknesses of the board, and how can I complement them?

6) Why, specifically, am I being asked to join the board and can I add value to the company?

7) What time commitment will the position require and can I meet it?

8) What risks am I potentially exposing myself to?

9) What information do I need to satisfy myself that this organisation is being properly managed, e.g. management accounts, internal audit reports, external audit post-audit memos, staff turnover, legal cases, risk management reports, etc.

10) How are the members of the board and the executive management team perceived by the business community?
While these would be specific to a given company and NED opportunity, we find it useful to consider David’s questions in the abstract to guide our members’ thinking about the types of companies and industries that would suit them, and how they can prepare for future opportunities. For example:
  • What you would be able to add to an industry/organisation in future given your unique experiences (past and desired)?
  • What can you do now to improve your understanding of the key trends affecting the industries of interest (including their regulations and standards)?
  • How can you practise the competencies and capabilities necessary to succeed as a NED, including volunteering for opportunities to provide external input and challenge to a group? e.g. a community organisation or a charity
David’s original LinkedIn article can be found here:
https://www.linkedin.com/pulse/10-questions-individual-should-ask-before-considering-david-w-duffy/

A range of Protagion’s mentors have done both executive and non-executive roles, and have experience in managing the transition, including preparing themselves for NED opportunities. Please do make contact if you’d like to discuss with us.
Picture
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.


    Follow @Protagion

    Author

    Bradley Shearer
    ​Founder of Protagion
    My Personal Journey
    I'd love to hear your stories

    SHARE YOUR
    STORY WITH ME

    Categories

    All
    Active Career Management
    Branching Out
    Connection
    Consulting
    Contracting
    Future Of Work
    Inspiration
    Leadership
    Learning
    Mentoring
    Non Executive Directors (NEDs)
    Personal Journeys
    Professions
    Psychology
    Real Life Examples
    Role Options
    Routes To The Top

    Tweets by protagion

    Archives

    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017

    RSS Feed

"NOW WHAT?" - a common question our visitors ask...
​WE CAN HELP!
Examples of common career goals, with resources for each: promotion, new skills, further study/qualifications, moving countries, switching into consulting / contracting / startup, transition to new specialism or profession, managing a business, portfolio career, purpose & meaning, CPD, and more... 


Follow @Protagion
Home / Proteges
> ​Services
> Subscribe
> CPD
​​

​Mentors

Our Stories / Blog

Sign Up to use our System
​
​
Privacy Policy​
Career Development and Talent Management for professionals: accountants, actuaries, analysts, asset managers, bankers, CFAs, data scientists, engineers, investment managers, risk managers, and more...
Protagion currently offers services in English, although some of our mentors & coaches speak other languages too. ​Please email us if you have any questions.
Picture

​© 2017-2023 PROTAGION LIMITED (10721032) is a company registered in England and Wales.
Registered Address: 128 City Road, London, United Kingdom, EC1V 2NX
Photos used under Creative Commons from Pjposullivan1, paul.horsefield, flazingo_photos, SURF&ROCK (Miguel Navaza), symphony of love, timo_w2s, ksunderman, Pjposullivan1, www.ilkkajukarainen.fi, Official U.S. Navy Imagery, Pjposullivan1, Kuruman, Pricenfees, Tennis-Bargains.com, wuestenigel
  • Proteges
    • Now What?
    • Career Support Guide
    • Career Goals >
      • Promotion / Raise
      • New Skills
      • Further Qualifications
      • Moving Countries
      • Switching: Consult/Contract/Startup
      • Transition: Specialism/Profession
      • Managing a Business
      • Portfolio Career
      • Purpose & Meaning
      • CPD
      • (Conference 1-5 Mar '21)
    • Example Professions >
      • Accounting
      • Actuarial
      • Asset & Investment Management
      • Risk Management
      • And more... >
        • Talent Management for Professionals
    • Our Services
    • Courses
  • Mentors
    • Encore Mentor
    • Featured Subset >
      • Anne - Australia
      • Boniswa - S Africa
      • Bradley - UK
      • Cherise - Nigeria
      • Hafsa - S Africa
      • Lee - Hong Kong
      • Lusani - S Africa
      • Margaret - S Africa
      • Michael - S Africa
      • Natasha - UK
      • Nikki - UK
      • Sumit - India
      • Trevor - UK
      • And More on our Protege Platform...
  • Subscribe
  • Platform Login
    • Login
    • Sign Up: Free
  • Stories
    • Our Stories & Articles
    • Our Principles
    • Books