IoDSA FAQs Looking for non-executive director positions

Frequently Asked Questions

The Dissenting Director 1. Obtaining the necessary knowledge and skills

The IoDSA Director Competency FrameworkTM (DCF) contains 20 competences that epitomise the competent director. All IoDSA offerings are aligned to the DCF and we are therefore continuously striving to deliver relevant interventions – training, events, mentoring, assessment and certifications - that equip directors with the necessary knowledge and insights required to fulfil their duties and to appreciate the importance of good corporate governance.

For further information on IoDSA Director Development offerings, refer to http://www.iodsa.co.za/?page=DirectorDevelopment

In particular, the Being a DirectorTM Series (Part 1 – 4) is aimed at equipping the aspiring director with the broad technical knowledge required of a director (i.e. the functional competencies of the DCF), including:

• Corporate governance frameworks • Roles and responsibilities of key role players in corporate governance • Risk and strategy • Performance and sustainability • Integrated reporting and combined assurance • Effective boards and adding value

With regards to the social and personal competencies of the DCF, the IoDSA offers:

• The Board Simulation Programme, which is aimed at offering potential directors an opportunity to benchmark their ability in the board room whilst interacting with others.

• Mentoring Circles provide the opportunity for less experienced directors to engage with seasoned directors and experts in different areas of corporate governance.

• The IoDSA Leadership Development Programme provides insight into the leadership role of the director in setting strategy for the business.

2. Making your CV board ready

A Board Ready CV is unique in terms of tone, content and structure and can make the difference between a success application and an unsuccessful one.

For some tips on making your CV board ready, see below links:

• http://www.ehow.com/how_5876184_write-resume-nomination-board-directors.html • http://www.thetalentadvisors.com/board-director-cv-resume-ned-skills-templatenomination-application-

boardready-boardroom/a-list-executives/ • http://www.championboards.com/xpdf/D&B_Board_Resume_Article.pdf • http://www.womenonboards.co.uk/resource-centre/selected-reading/articles/boardcv.htm • http://women2boards.com/is-your-board-cv-ready-for-prime-time/

3. Building your personal brand

Networking is an essential tool in building your personal brand and profiling yourself for board positions.

All IoDSA events provide the opportunity for networking with peers, colleagues, decisionmakers and experienced board members. More specifically, the IoDSA offers business speed networking sessions. Keep an eye on your emails for invitations to book for these.

Some networking tips:

• Have your elevator pitch ready and mention what you would like to achieve or learn • Listen as well as talk • Even if the work of the person you are speaking with does not directly relate to your interest, they might know

someone who does • If you do not know of the other persons prior industry or organisation, then ask them to clarify, otherwise you may

miss an opportunity • Take notes (and don’t be offended if you see someone writing on the back of your business card, this practice can

be very good for jogging the memory) • Exchange business cards • If you know you want to speak with a particular person again, arrange to follow up with an email or telephone call

to ensure they remember you

In addition to networking events, consideration should also be given to becoming more visibly engaged on IoDSA social media channels and other IoDSA initiatives. 4. Vacancies

IoDSA CHANNEL 1 IoDSA CHANNEL 2 EXTERNAL CHANNEL

Name

IoDSA Vacancy Notifications

IoDSA CV searches

External search firms

Description

Board vacancy notifications emailed to IoDSA membership database. 4/5 advertised positions are filled by IoDSA members

Allows for companies to request for the IoDSA to perform a confidential search of the IoDSA membership CV portal for nonexecutive candidates

Some external search firms do recruitments for board positions, including: Odgers Berndtson Heidrick & Struggles

Action required

Monitor IoDSA emails for vacancy notifications and respond accordingly

Update CV on IoDSA website Contact external search firm

5. Interviews

It is vitally important to make a good first impression at an interview with a Nominations Committee. In person interviews usually yield better results than electronic communications. Preparation and knowledge of the company are critical.

For some tips on preparing for a board interview, see below links:

http://www.womenonboards.co.uk/resource-centre/selectedreading/articles/preparing-for-a-board-interview.htm

http://getonboardaustralia.com.au/wp/questions-to-ask-at-a-board-interview/

6. If you are short-listed

It is very important to be present at the AGM at which the position will be voted for. Some responsible lobbying beforehand may be appropriate, depending on the circumstances.

If you know of shareholders/members who would vote for you, but are unable to attend the AGM, requesting their proxy vote may be a good idea. 7. Acceptance

From a prospective non-executive director’s perspective, it is imperative that prior to accepting an appointment, he/she should undertake his/her own thorough examination of the company to satisfy himself/herself that it is a company in which he/she can have faith and in which he/she will be well suited to serving.

In terms of the Companies Act, 2008, a person becomes entitled to serve as a director of a company when that person has been appointed or elected in accordance with the Act and has delivered to the company a written consent to serve as its director. In considering whether to consent to serve on a board, there are a number of critical matters that a potential director should take into account.

Refer to Annexure B, Section 1 of the CGN paper on Director due diligence for specific guidance on what to consider.

http://c.ymcdn.com/sites/www.iodsa.co.za/resource/collection/05E93ACB-10BE-4507-9601307A66F34BD8/IoD_Due_Diligence_Brochure.pdf 8. Induction

Subsequent to being appointed as a director, there are further matters that a director would consider in order to familiarise himself/herself with the company. Refer to Annexure B, Section 2 of the CGN paper on Director due diligence for specific guidance on what to consider. http://c.ymcdn.com/sites/www.iodsa.co.za/resource/collection/05E93ACB-10BE-4507-9601307A66F34BD8/IoD_Due_Diligence_Brochure.pdf