Non-Executive Director Role Profile
Background to Role
Savvi Credit Union (the ‘credit union’) management oversees the day-to-day operation of the credit union whilst the board of directors provides guidance on long-range objectives, determines policy and monitors the credit union’s overall progress. It’s a job that demands investment in time, energy and expertise. The board of directors is responsible and accountable to the membership for the general control, direction and management of the credit union.
Leadership – Level 3
Strategic & Performance Focus – Level 3
Innovation and Marketing – Level 3
Financial Expertise– Level 3
Corporate Governance – Level 3
Strategic Collaboration – Level 3
See Appendix 1 attached for Competency descriptions and Appendix 2 for Commitment Indicators.
Specific responsibilities of Directors include:
Fulfilment of a number of statutory duties specified in the 1997-2012 Credit Union Acts:
1.1 setting, monitoring and reviewing the strategy for the credit union;
1.2 operating a comprehensive decision-making process, ensuring that decisions are documented and can be explained;
1.3 appoint a CEO, risk management officer and compliance officer, and ensure there is an effective management team in place;
1.4 ensure there is an effective Internal Audit function operating and reporting to the Board;
1.5 ensure there is an appropriate succession plan for Board and management;
1.6 ensure compliance with all requirements imposed by legislation;
1.7 remove non-director officers where duly determined that there has been a failure to perform duties or responsibilities;
1.8 approve all plans, policies and procedures;
1.9 ensure accounts submitted for audit, presented to the members at AGM, and recommend dividend to members
Perform certain reviews and appraisals, at least annually, including:
performance evaluation of the role of the manager
all elements of the risk management system
all plans, policies and procedures
the effectiveness of the internal audit function
credit union’s overall performance
Acquire and continually upgrade knowledge about the financial services industry, all aspects of the credit union’s business, regulatory issues and the business environment in general.
Attend all meetings (10-12 regular meetings per annum as well as special board meetings to deal with strategic planning and other matters as required, unless there are significant extenuating circumstances. Meetings are usually held on last Tuesday of each month from 5.45pm for two to three hours approximately;
Prepare thoroughly for board and committee meetings and make a positive contribution to those meetings;
Keep informed about activities occurring within the areas served by the credit union;
Serve on committees of the board;
Undertake all required director training and keep up to date on evolving governance standards and practices;
Act as an ambassador of the credit union.
1 - Leadership
- Demonstrates a level of vision, wisdom, agility and personal example that inspires others to achieve stretching organisational goals.
- Secures the appropriate level of support and engages with all board members and staff to enhance the culture and performance of the organisation.
- Ensures there are appropriate development and succession plans in place.
2 - Strategic & Performance Focus
- Actively contributes to the development and ongoing renewal of the strategic direction and goals of the credit union.
- Regularly takes stock of the emerging needs of customers, staff and regulator and observes market trends and interprets implications for organisation.
3 - Innovation and Marketing
- Demonstrates a knowledge of emerging market developments and customer needs and how best to respond to these to secure first mover advantage for the credit union.
- Leads and supports various initiatives in key areas such as new product development and exploitation of modern technology to meet changing needs of members and grow brand of the credit union. Also seek cost saving initiatives.
4 - Financial Expertise
- Understands the relationship between business drivers, their financial impact and overall value to the credit union.
- Evaluates plans and performance and insures corrective action is taken where appropriate.
- Understands financial reports and regulatory requirements and insure the accuracy and integrity of financial information
5 - Corporate Governance
- Influences the development of emerging regulatory guidelines and ensures compliance with regulatory requirements. Performs responsibilities in a prudent and objective manner with due regard for the best interests of the credit union.
- Understands and oversees the management of risk.
6 - Strategic Collaboration
- Demonstrates the required communication, consensus building and negotiation skills to proactively align all key stakeholders with the strategic objectives and plans of the credit union.
1 - Understands the Role and Complies with Fitness and Probity
- Complies with the Director’s Code of Conduct and role and responsibilities.
- Provides all the necessary information for the maintenance of an accurate, up-to-date Fitness and Probity file.
2 - Demonstrates Commitment to Continuing Professional Development (CPD)
- Participates in board training sessions and in the CPD necessary to discharge director responsibilities in an effective way.
3 - Preparatory Work
- Is fully prepared for board and other assigned meetings.
4 - Attends and Contributes at Board Meetings
- Is punctual and reliable in attending all meetings.
- Contributes constructively and knowledgeably to board discussions.
- Accepts collective decision making.
- Considers appropriate risk tolerance for key decisions.
5 - Displays a Professional Work Ethic
- Is member focused.
- Demonstrates flexibility and reliability.
- Upholds credit union confidentiality.
- Communicates effectively with all stakeholders.
- Manages conflicts of interest.
6 - Undertakes Appropriate Sub-Committee Work and Additional Duties
- Actively participates in the work of sub-committees and takes on additional duties where appropriate.
Non-Executive Director Vacancies
Applications are now closed
Savvi Credit Union invites applications from suitably qualified candidates who would be interested in volunteering as non-executive directors.