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CEO Memo — The future of the governance professional is right here, right now

The world of the governance professional is changing faster than ever before.

Boards are increasingly under the microscope from regulators, investors, proxy advisers, staff, customers and activists. Social media also gives every stakeholder a voice.

This scrutiny escalated following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry and the lessons learned have relevance to all Australian organisations, not only banks and insurers.

The pressures of operating in the face of growing complexity and uncertainty are being felt across Australia’s boardrooms, raising the importance of governance professionals’ input and strengthening their valued ‘trusted adviser’ status within every organisation.

That’s why Governance Institute has made it our key strategic focus this year. We have most recently released a new report ‘The future of the governance professional’, which attempts to understand why governance professionals’ roles are shifting, what future skills they require, and the resources and support they will need from their executive leaders.

As Australia’s largest dedicated governance association, we too will use this research to support our members with the most relevant and up-to-date professional development, courses, events, networks and resources.

I too was personally involved in the Future of the Governance Professional report, chairing the final roundtable back in May where the data points were analysed with other governance experts.

We also made this a key session at National Conference earlier this week, where we pulled apart those findings with TK Kerstetter, from Inside America’s Boardrooms, and Julie McPherson, Cosec and General Counsel at Amcor. Thank you both so much for making this such an engaging session, and of course helping me out with the Q&A.

The future is hard to predict. I want Governance Institute to continue to lead the debate on what that future will look like, and how governance professionals can futureproof themselves to ensure they continue adding value to the board and their organisation.

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