Executes board oversight responsibilities.
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[column 12 layout="standard"]ANALYTICAL THINKING & DECISION MAKING
Thinks systematically, conceptually, and analytically to determine effective solutions.[/column]
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[column 12]
Key Behaviors: Board -
Performs due diligence on issues important to the long-term success of the cooperative.
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Demonstrates ability to analyze reports and formulate questions on information provided to the board.
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Maintains awareness of the organization’s values and goals while engaged in discussion regarding actions or decisions.
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Listens to the perspectives of others in the analysis of options.
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Exercises prudent business judgment in making decisions, that is, acts on an informed basis, in good faith and with the honest belief that the decision is in the best interests of the cooperative.
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Avoids jumping to conclusions or making snap judgements based on personal bias, historical solutions, or narrow perspectives.
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[column 12]
Key Behaviors: Board Chairman
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Moves the board towards consensus.
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Holds self and others accountable to the same standards of analysis, results, and consequences.
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Focuses on arriving at a specific, actionable, clearly formulated decisions.
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Ensures each director has opportunity to contribute his/her ideas andalysis, wisdom and experience to discussion.
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Ensures discussions are made in a timely manner.
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[column 12 layout="standard"]STRATEGIC PLANNING
Engages in strategic planning that contributes to the direction, core values and goals of the cooperative.[/column]
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[column 12]
Key Behaviors: Board -
Recognizes the difference between strategic and tactical decisions.
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Actively engages in the strategic planning process.
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Formulates specific, measurable, achievable, results-focused, and time-bound strategic goals.
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Seeks to understand the cooperative’s business and operating environment to contribute to the strategic discussions.
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Brings independent and objective thinking to strategic decisions.
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Demonstrates the ability to understand issues from different perspectives.
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Recognizes the board’s role in thinking strategically about the cooperative’s future.
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Analyzes the cooperative’s strengths, weaknesses, opportunities, and threats.
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Balances short-term needs with focus on long-term and changes to industry, technology and membership demographics.
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[column 12]
Key Behaviors: Board Chair -
Keeps board work focused on the cooperative’s mission, vision, and strategic direction.
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Keeps the board in focusing on strategy and risks.
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Leads the board in the identification and common understanding of measures of success for each strategic initiative.
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Ensures participation in the strategic planning process by all directors.
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[column 12 layout="standard"]RISK MANAGEMENT & OVERSIGHT
Forecasts and evaluates a variety of risks and identifies strategies to avoid or mitigate their impact.[/column]
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[column 12]
Key Behaviors: Board -
Distinguishes the board’s oversight role from management’s role in enterprise risk management.
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Takes a long-term view (5-7 years) of risks that lie ahead for the cooperative and develops strategies to address top priorities.
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Recognizes the key areas of risk to the cooperative and determines strategies to avoid, reduce, transfer, or accept the risk.
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Applies the steps in enterprise risk management (ERM) and how to prioritize risks.
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Provides prudent, independent and objective oversight to effectively guide and monitor the implementation of strategic initiatives.
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Recognizes the value and benefits of enterprise risk management.
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Defines risk appetite and risk tolerance.
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Formulates questions on the pros, cons, and costs of various courses of action proposed by management.
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[column 12]
Key Behaviors: Board Chair -
Ensures the board's fulfillment of its risk oversight responsibilities.
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Ensures the board has established and communicated to management clear risk appetite and tolerance.
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Leads the board to come to consensus on a risk oversight model
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Ensures that enterprise risk management is linked with the board’s strategic planning process.
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[column 12 layout="standard"]FINANCIAL OVERSIGHT
Demonstrates an appropriate level of financial knowledge and understanding and can interpret financial reports and statements, and monitor corrective action to ensure financial goals.[/column]
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[column 12]
Key Behaviors: Board -
Demonstrates an understanding of basic financial terms and concepts and how to analyze reports, balance sheets, statements of cash flows, and income statements.
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Recognizes the board's financial oversight responsibilities.
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Demonstrates ability to use the cooperative’s strategic plan, annual budget and other business plans to effectively monitor results and variances.
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Recognizes the factors that must be balanced when developing rate design philosophy.
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Understand the foundations of equity management, capital credits, and debt structures.
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[column 12]
Key Behaviors: Board Chair -
Monitors and assesses the board’s understanding and use of or application of key financial ratios and/or financial reports and seeks education and clarification for the board where appropriate.
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Ensures that the board conducts sufficient oversight and discussion on recommended strategies to address and material variances.
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Lead the board in coming to consensus on a capital credit policy.
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