HC-4.5 HC-4.5 Induction and Training of Directors
HC-4.5.1
The chairman of the board must ensure that each new director receives a formal and tailored induction to ensure his contribution to the board from the beginning of his term. The induction must include meetings with senior management, visits to the
conventional bank licensee's facilities, presentations regarding strategic plans, significant financial, accounting and risk management issues, compliance programs, its internal and external auditors and legal counsel.October 2010HC-4.5.2
All continuing directors must be invited to attend orientation meetings and all directors must continually educate themselves as to the
conventional bank licensee's business and corporate governance.October 2010HC-4.5.3
Management, in consultation with the chairman of the board, should hold programs and presentations to directors respecting the
conventional bank licensee's business and industry, which may include periodic attendance at conferences and management meetings. The Nominating Committee shall oversee directors' corporate governance educational activities.October 2010
