FOCUS - BOARD ADVISORY
Even great boards encounter complex governance issues.
We can review an organisation’s governance and guide them through issues. We help boards focus on what matters and have the right conversations. We understand ownership complexities and the intricacies of board composition and relationships in and out of the boardroom.
Our exceptional understanding of governance principles combined with more than 25 years’ hands-on board practice means we have the skills, experience and insights to help chairs and boards focus on the strategic, navigate the blind spots and fine-tune their performance. What sets us apart is we take time to understand your business, your board and your challenges... and we’ve probably been there ourselves. Our approach means we’ve become a trusted adviser to many board chairs and a sounding board on complex issues.
Some examples of what we do
Governance advice and review
Governance structures and composition
- Board operations, meeting agendas and board packs
- Overall governance effectiveness
- Board skills, succession plans and development needs
Strategic sounding board
We act as a trusted advisor for your board on strategic issues. We help:
- Develop the organisation’s strategic direction
- Clarify the board’s role and scope
- Enhance board dynamics
- Help boards and management understand how their roles complement each other
Expert governance input where it’s needed
We can help in a variety of areas where an independent governance expert is required:
- Provide expert witness evidence for complex corporate governance cases
- Mentor chairs and new directors
- Act as a member on a director selection panel
Boards have five core functions which we describe in our pioneering FICKS framework. Together these ensure that value is created, preserved and future proofed. Effective boards need to focus on what matters.
Westlake Governance has developed and continues to refine the FICKS™ framework, as a practical guide or check on how a board works and spends its time. FICKS™ describes the 5 key functions of a board:
F – Future focus – Working with management on strategy development and execution, making sure you have the right CEO for future success. About 30% of your time.
I – Issues identification – understanding your environment, spotting the trends, identifying and monitoring opportunities and risks, and communicating with your owners and other stakeholders. Another 30%.
C – Compliance – ensuring you adhere to the law, regulations and best practices, and keep the organisation solvent and able to meet its obligations. 15% of your time.
K – KPI (Key Performance Indicator) monitoring – analysing trends and forecasts against budgets, as well as current performance, while avoiding repetitive discussions or questions. 15% of your time.
S – Succession, skills and governance structures – making sure at all times that you have the right people in the right roles at the board table and committees, and in top management. 10% of your time.
