Board of Directors Job Description

by Publishing Team on March 12, 2011

One of the most fulfilling parts of being an employee in a corporation is the thought that you are being trusted by majority of your colleagues or fellow shareholders to handle the legal responsibilities and issues of the company. This is reflected if you are being elected as one of the members of the Board of Directors.

They are elected individuals who oversee the management of the corporation. Its main purpose is to assist with the leadership and the promotion of the organization to the community. They create set of policies for the corporation to ensure that it is operated by honest and vision-oriented professionals and that the business is in systematic order. Generally, they have a forthright authority over the chief executive officer who carries out the policies and programs being set and approved by the Board. They serve mainly as representatives of the whole organization as elected personnel.

The Board of Directors is composed of a minimum of 9 members up to a maximum of 15. Each member of the Board will serve at least three years in the organization which can be renewed up to three terms. The Board are to receive cash incentives as their salary.

Main responsibilities of the Board of Directors

  • They govern the company by setting rules and policies to be followed by all employees.
  • They select or appoint, as well as review the capacity and performance of the chief executive officer of the corporation.
  • They ensure that there are adequate and available financial resources for the company to be consumed. It is part of their job to create the annual budget.
  • They oversee the planning and evaluation of programs being implemented as well as making of fundraising and outreach events.
  • They organize the officers and committees of the company.

Board of Directors – Duties of each officer

The Board of Directors has also set of officers for proper distribution of tasks. They are composed of the Chairman, Committee Chair, Secretary and Treasurer.

The Chair of the Board is the one who leads the team. He communicates with the Chief Executive and discusses issues of the company then relay it to the rest of the members. He monitors the planning and status of the financial aspect of the company. He evaluates the performance of the organization in achieving its mission and vision. He also evaluates the effectiveness of the members of the Board.

The Committee Chair sets the committee works of the corporation. He manages the logistics of the committee’s operations. He reports the plans, recommendations and decisions of the committees to the Chair of the Board and works closely with the Chief executive.

The Board secretary organizes and keeps all important documents of the board. He manages the minutes of every meeting and makes sure that this will be distributed to all members.

The Board treasurer manages the financial status of the organization. He also updates the development of financial policies and procedures.

The Board members are active participants of planning and setting of policies and the evaluation of the committees. They are familiar to the concerns and problem matters of the company.

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