Corporate Governance – Investment Fund Structures
Corporate Governance has been described as ‘The Management of Management’.
It is measured by the quality of the decision making structures at the top of every organisation together with the clarity and completeness of communication between the ‘governance level’ of the organisation and the ‘management level’.
Communication ensures that expectations and decisions are clearly articulated from the Board to management and that outcomes and achievements are clearly reported back to the Board.
The Irish Funds Industry Association (IFIA) has issued a Code entitled ‘Corporate Governance Code for Collective Investment Schemes and Management Companies’. While the code is voluntary, its adoption by Irish authorised CIS and Management Companies is strongly recommended by the IFIA.
In addition, the IFIA has issued a ‘Corporate Governance Code for Fund Service Providers’ This is also a voluntary code, the adoption of which is strongly recommended by the IFIA and indeed by the Central Bank of Ireland.
At Governance Matters we advise Insurance / Reinsurance Boards and Senior Management on all aspects of Corporate Governance including:
- Appropriate Board and Committee Structures
- Roles and Responsibilities of Boards, and individual Board members
- Documentation and clear communication of Board policies and values
- Board and Management Fitness and Probity Framework
- Definition of Board reports required from Management
- Delegation of authorities to the Management
- Board Training needs and delivery
- Board and individual Directors’ effectiveness assessment
- Effectiveness of meetings and decision making processes
We are also in a position to recommend individuals who can act as independent non-executive members of the Board of a CIS, Management Company, or Fund Service Provider.