“Long-range planning does not deal with future decisions, but with the future of present decisions.” – Peter Drucker
In the incredibly fast-paced environment our world has embraced, staying relevant and profitable has become a challenge for all industries—banking included.
In an increasingly competitive digital age, community banks still play a very important role in supporting their communities and the local business owners, students, entrepreneurs and families who live there—all of whom depend on you to meet their unique banking needs. To remain relevant and competitive, your bank needs to embrace a strategy that is both sustainable and enduring.
This may mean keeping many of your current business practices in place, but it will also undoubtedly require important changes and a new approach in others. How can your bank’s board and executives make an informed decision on the best way forward? Answer: Conduct a third-party board and management self-assessment.
This tried-and-true corporate governance tool is like an executive’s annual physical checkup; it’s a process that results in an actionable report. It informs you where your bank is, so you know where it needs to get to and what it will take to get there. Good corporate governance is essential to long-term sustainability, value creation and risk mitigation.
The Center for Board Excellence’s proprietary online assessment solutions elevate corporate governance and leadership standards while saving your community bank time, effort and money.
Today’s most successful banks pursue governance excellence that inspires:
- strategic alignment between the bank’s board and management
- maximum support for the CEO
- a culture of continuous improvement and success
- leadership that is relevant, purposeful and effective
- board agility, development and diversity
- social and environmental responsibility (ESG)
- total ownership (shareholder) value and growth
Our platform, process and reporting capture and establish important metrics to transform board governance from ad hoc, one-time initiatives into a strategic process for continuous improvement. They exceed the assessment standards required by publicly listed companies on the NYSE and Nasdaq.
Our clients include many members of the Fortune 500 and Forbes’ 100 Most Trustworthy Companies, as well as smaller public and private companies and organizations, all of whom know the value of CBE’s unique performance assessment reporting. Board members, CEOs, general counsel, corporate secretaries and governance professionals we’ve worked with tell us that CBE’s tools equip them to be more effective in their respective roles.
Explore how CBE’s fully customizable governance solutions can help your community bank sustain its relevance and profitability over the long haul.
This article was originally published in the Independent Bankers magazine