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Overboard and overloaded: checklists for NEDs in banking, insurance and investment management
Non-executive directors need to manage their roles so they have the right amount of time for all the companies they serve, and time to develop themselves professionally. As board responsibilities increase in response to issues like cyber-security, disruptive technology, climate change and culture.
In August 2019 the European Central Bank shared research on the time commitments made by non-executive directors of intuitions within the single supervisory mechanism. It reinforced the message that being a non-executive director is not simply done in the boardroom and that NEDs need time for:
The research found a high number of roles, the high overall time commitment of those roles, and low time committed to the role mean time commitment is a concern. There are a number of factors NEDs need to consider when looking at appointments: