Keys to Planning D&O Questionnaires & Board Assessments
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Your annual D&O questionnaire or board assessment is no longer a reason to groan because OnBoard has a stress-free solution. In our upcoming webinar, you’ll discover how to streamline your process for annual questionnaires and assessments. Whether you need to distribute Directors & Officers (D&O) Questionnaires, conflicts of interest questionnaires, financial disclosures, or other governance questionnaires, your organization relies on you. But are you relying on outdated, inefficient processes to get your directors to 100-percent completion? Board assessments and evaluations create the opportunity for boards to evaluate their performance against the ever-growing list of board responsibilities and obligations. But, what’s the most effective way to deploy a board assessment?
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Keys to Planning D&O Questionnaires & Board Assessments
- 1. Keys to Planning D&O Questionnaires & Board Assessments September 29 | 3:00 p.m.ET Karen Griffin, Head of Product & Customer Marketing AndrewSompels,CustomerEducationManager
- 2. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. Housekeeping 2 Please ask questions at any time using the Q&A Button Chat or ”raise your hand” if you need anything Attendee Mics are muted by default
- 3. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. About our Audience Today Industries • Arts & Entertainment • Associations • Financial Institutions • Healthcare Organizations • Manufacturing • Nonprofits • Technology Types of Boards • Public Companies • Private Companies • Non-profits Roles • Board Secretaries • CEOs, CFOs, Executives • Executive Assistants • Paralegals • General Counsel • Vice Presidents
- 4. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. About Today's Webinar • Purpose of D&O Questionnaires • Purpose of Board Assessments • Key Differences • Capabilities Demo • Wrap-Up & Q/A Andrew Sompels Customer Education Manager Karen Griffin Head of Product & Customer Marketing
- 5. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. What we do: Inspire and enable organizations to do their best work in a digital world. 5
- 6. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved.
- 7. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. How do you conduct D&O or Conflict of Interest Questionnaires today? • OnBoard Questionnaires • Survey tool (e.g. Google forms, Survey Moneky) • Excel/Word • Other • We don’t currently use questionnaires Polling Question
- 8. 1 2 3 OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. D&O Questionnaires for Public Corporations Ensure Independence & Disclosure Failure to disclose information can do a lot of harm Required by the SEC – Exchange Act of 1934
- 9. 1 2 3 OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. Conflict of Interest Questionnaires for Private Organizations & Nonprofit Boards Identify possible conflicts of interest – competing interests & loyalties Conflict of Interest Policies Example: Self-dealing
- 10. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. Why move to a digital solution? Time savings Reducing errors or inconsistencies Streamlined processes to create and review Better tracking More secure & easily accessible
- 11. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. How do you perform board assessments today? • Word/Excel • Individual Interviews • Survey Tools (Google forms/Survey Monkey) • Other • We don’t perform assessments today Polling Question
- 12. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. Board Assessments (Evaluations) • Types Include: • Board Assessments • Director Assessments • CEO Assessments • Typically conducted during end of year • Helps prepare for upcoming year – what changes need to be made? • Part of organization’s bylaws or required by stock exchange listing standards
- 13. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. How are Board Assessments different than D&O Questionnaires in OnBoard? 13 Board Assessments • Purpose-built to analyze board feedback for continuous improvement • Templates for both Board Assessments or Director Self-Assessments • Encourages open, honest feedback with ability to respond anonymously • Analyze results and look for trends and differences of opinions • View and share results – overall and individual question results D&O Questionnaires • Purpose-built for D&O conflicts of interest questionnaires or other complex forms • Ability to pre-fill director responses • Submit with e-signature • Ability to clone last year’s questionnaire and directors’ data from previous year • Export individual reports or aggregate responses into a single spreadsheet • Manage responses using a dedicated dashboard
- 14. D&O Questionnaires & Board Assessments Features Demo 14
- 15. OnBoard | ©2021 Passageways, Inc. Confidential. All rights reserved. Poll Question: Are you interested in learning more about OnBoard’s Board Assessment, D&O, and/or Skills Tracking feature? 15
- 17. Contact & Help OnBoardSales Team 765.535.1882 More@onboardmeetings.com OnBoardCustomerSuccessTeam OBpros@onboardmeetings.com TechnicalSupport:(765) 535-1880, option1 help@onboardmeetings.com Onlineknowledgebase onboardmeetings.com
- 18. Indianapolis Lafayette London Sydney
Editor's Notes
- Karen: Just a few housekeeping tips before I introduce today's speakers. All phone lines have been muted to eliminate any background noise. If you have any technical challenges, please use the chat feature and we'll help you troubleshoot any issues you're having. If during the presentation you have a question, please use the Q&A button and we'll try to respond to as many questions as we can during the presentation. For questions that don't get answered, we will follow up via email after the webinar.
- Introductions – Karen, Andrew say a couple things about themselves Karen overview agenda
- Karen – since a few prospects on the line today...quick overview of OB Today talk about meeting minutes which is a critical part of your meetings and there are many more capabilities in OB that the platform does that allows your org to transform the way your board meetings are run.
- Sections 13 and 15 of the Exchange Act of 1934 describe the periodic requirements for registered and unregistered companies to make public disclosures of material information for shareholders. The statements on the D&O questionnaires are designed to fully capture all business relationships that board directors, officers and principal shareholders have. D&O questionnaires ensure independence and require pertinent parties to disclose conflicts of interest. D&O questionnaires can take various forms and they can be very detailed. The General Counsel usually takes the lead in reviewing D&O questionnaires because of the potential for liability of directors, officers or shareholders if they make misstatements or fail to provide all relevant information. Penalties for not complying with D&O questionnaires and not fully reporting can be steep and harsh. These are good reasons for boards to switch from paper D&O questionnaires to software solutions, which are more accurate and efficient.
- Doug
- Mike