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Avoiding information overload: banking
In our 2019 report Information overload: effective boards and committees in financial services we outlined what executives, management and non-executives can do to make board meetings and board packs more effective.
Strategy is the number one responsibility of the board, but often neglected and left last on the agenda. In order to properly fulfill their collective responsibility, boards must be able to discuss strategy, emerging risks and the wider environment.
The regulators have emphasised that operational resilience needs to be higher up the board agenda. Also, governance and culture have a key role in operational resilience. An FCA review found that a large number of boards can’t coherently discuss topics like cyber-risk, leaving them even more at risk. For non-executives this means they must demand the right level of information at the right time, and ask for teaching papers and education sessions when needed.