Role of the Board
The Board is the governing body of the IMFO and is responsible to the members for managing the business and affairs of the Institute. Its role is essentially strategic, and operational and day-to-day management of the organisation is delegated to the Chief Executive Officer. In summary, the Board is responsible for:
- Determining the IMFO’s vision, values and goals
- Determining the IMFO’s strategic objectives and strategic policies
- Setting the pace for the IMFO's current operations and future development
- Ensuring that the IMFO’s organisational structure and capability are appropriate for implementing the chosen strategies
- Appointing the IMFO’s Chief Executive and delegating authority to him / her for the implementation of strategies, policies and business plans.
- Monitoring and evaluating the implementation of strategies, policies and business plans.
- Ensuring that internal controls Governance and performance management process, are effective.
- Ensuring accountability to its members.
The IMFO Board members have overall responsibility for the affairs of the Institute. Directors are expected to:
- Regularly attend and participate in Board meetings.
- Be members of various IMFO committees.
- Contribute to the Board performance.
- Acquaint themselves with the activities of the Institute and be aware of the external pressures and stakeholders seeking to influence it.
- Represent Institute and promote the its interests.
- Contribute to the development of the strategic direction of the Institute
- Constructively challenge and help develop the proposals put forward by the IMFO management team.
- Oversee the implementation of the agreed strategy and the effective operation of the day-to-day affairs of the IMFO.
- Work with the management team to help communicate key IMFO activities or initiatives
- Abide by the IMFO's Board Code of Conduct, MOI and Board Charter.