Common use of ROLE AND DUTIES Clause in Contracts

ROLE AND DUTIES. 5.1. You acknowledge you have the same general legal responsibilities to the Organisation as any other Board Member. 5.2. The Board as a whole is collectively responsible for ensuring the success of the Organisation and its compliance with all legal and regulatory obligations. 5.3. It does this by directing and supervising the Organisation’s affairs. In particular, the Board: 5.3.1. provides entrepreneurial leadership of the Organisation within a framework of prudent and effective controls that enable risk to be assessed and managed; 5.3.2. sets the Organisation’s strategic aims, values and standards; 5.3.3. ensures the necessary financial and human resources are in place for the Organisation to meets its objectives; 5.3.4. reviews management performance; and 5.3.5. ensures the legal and regulatory obligations of the Organisation are understood and met. 5.4. Your role as a Board Member encompasses the following key elements: 5.4.1. Strategy: you should challenge and contribute constructively to the development of the strategy of the Organisation; 5.4.2. Performance: you should scrutinise the performance of the Organisation in meeting agreed goals and objectives, and monitor the reporting of performance; 5.4.3. Risk: you should satisfy yourself that financial information is accurate, and that financial controls and systems of risk management are robust and defensible; and