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Responsibilities and duties of a governance practitioner
A governance practitioner's responsibilities and duties can cover a broad spectrum of activity. These can include:
Governance, risk management and compliance policy and practice
- Advising directors and officers on director duties, the Corporations Act, the organisation’s constitution, stock exchange and other regulatory and statutory requirements (both within Australia and in other jurisdictions, where appropriate).
- Advising the board (or governing body) on corporate governance principles and the implementation of governance programs and risk management frameworks.
- Developing, implementing, communicating and maintaining governance, risk and compliance policies, processes and procedures.
- Maintaining the corporate structure, including subsidiaries and associated administration.
Corporate strategy and board management-administration
- Carrying out the instructions of the board (or governing body).
- Implementing the corporate strategy (especially giving effect to board decisions).
- Monitoring compliance by management with standing delegations from the board (or governing body) and reporting any breaches.
- Ensuring corporate accountability by communicating with the organisation's stakeholders and broader community.
- Ensuring effective information flows within the board (or governing body) and with and between board committees, and between non-executive directors and management.
- Acting as a conduit between members (especially major and institutional investors in listed companies) and non-executive directors.
- Managing board and committee administration.
- Preparing minutes and meetings (for example AGMs, other general meetings, director and committee meetings).
Board performance, remuneration and evaluation
- Assisting with the recruitment and induction of directors.
- Facilitating professional development programs for the board.
- Assisting with board (or governing body) evaluations.
- Overseeing director fees and entitlements.
- Managing the director handbook/manual.
- Managing directors’ and officers’ (D&O) insurance.
Human resources, legal and finance
- Advising (where appropriate) on employee benefits and employee incentive plans.
- Advising on intellectual property asset management (for example patents, trademarks, business & domain names) and trade practices legislation.
- Providing broader legal advice and guidance (for example powers of attorney, work health and safety, employment law, anti-money laundering requirements).
- Advising on relevant financial issues (accounting, finance, taxation, dividend reinvestment plans, superannuation).
- Monitoring organisational investments.
- Advising (where required) on environmental issues.
- Advising on privacy legislation.
External adviser communication-liaison
- Communicating with external advisers (legal, accounting etc) and corporate representatives.
- Liaising and coordinating activity with share registries.
- Managing seals and document execution.
- Undertaking general administration and property management functions.
- Overseeing document retention and management.
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