Members of the Board of UBA, Africa’s global bank, were recently taken through a comprehensive training in corporate governance in line with the bank’s desire to build the capacity of the board to adequately discharge its governance duties.
The two-day training organized by UBA Academy in collaboration with Euromoney, took the Board members through the latest thinking and insights on corporate governance.
The programme was designed to ensure that the board members are able to develop the forward thinking leadership skills required by today’s dynamic business environment and to improve their skills and competencies in making effective decisions that proactively impact the enterprise.
The CEO of Global Governance Limited, Mr. Chris Pierce, who was the lead facilitator, focused on the role and responsibility of the board regarding strategic leadership and stewardship.
According to him, board members are often criticized for failing to meet their governance responsibilities in organizations when detailed knowledge about the business process is lacking.
“These considerations are especially true for board members of financial institutions considering the complexity of the business, the high dynamism and volatility of the markets in recent years and the responsibility of banking boards in supervising and monitoring as a prerequisite for the sound and prudent management of financial intermediaries,” said.
Chuks Mokogwu, Director, UBA Academy, said that the training for UBA’s board of directors is continuous process designed to ensure that the Group’s board members are properly equipped to carry out their oversight role of the Group’s activities.
“The risks faced by the banking environment are highly dynamic. Training and re-training of board members is therefore very crucial to ensure that they are always ahead of the risk curve and challenge management to make the right decisions that are in the long term interest of the bank and shareholders” Mokogwu explained.