EisnerAmper Ireland | Board Support and Training | Financial Services Training and Consulting

Board Support and Training

We deliver bespoke Board Support and Training services that helps you to fulfil your duties as a Board (and individual members) and achieve effective demonstrable compliance with regulatory requirements and expectations.

In our experience the developmental needs of Boards of Directors fall outside corporate HR structures and so our dedicated Board Support and Training team, led by Frank Keane, Partner, fulfil this roll and provide Board Support and Training courses that are tailored to your Board’s needs.

Our tailored Board Support and Training services provide a secure and private forum to:

Identify and address your Board’s needs and requirements;

Clarify regulatory expectations for Board members in all regulated entities including banks, insurance companies and MiFID firms;

Align Board of Directors, Company and relevant individual (e.g. the Company Secretary) objectives and expectations;

Demonstrate “good practice” in relation to formal support and training for Board members in the area of regulatory reporting, e.g. the Dear CEO letter on Solvency II Regulatory Reporting; and

Help Boards and Board members to enhance their organisational effectiveness in a pragmatic fashion.

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Our Board Support and Training programmes typically include:

Identification, review and discussion of specific topics of interest to the Board of Directors (e.g. a communication from a regulator);

Assessment of relevant regulatory landscape knowledge and Board training in relation to specific regulations and regulatory expectations (e.g. the Central Bank of Ireland’s expectations of Directors of (Re)Insurance companies);

Creation of a regular Support and Training programme (e.g. quarterly) aligned to your Board meeting schedule to provide a robust audit trail on materials and attendance, in compliance with regulatory Board training expectations;

Ongoing facilitator-led workshops onsite on topics agreed by the Board, e.g. regulatory hot topics; and

Working with your management team to access and distil required materials to reduce the workload on Board participants.

Board Support and Training Case studies

Below are some examples of how we have helped our clients:

(Re)Insurance Company Board Support and Training

A (Re)Insurance Company received the “Dear CEO” letter from the Central Bank of Ireland sharing their observations from analysis into regulatory reporting within the relevant regulated market. The Board of the (Re)Insurance Company took this opportunity to ensure that they had up to date knowledge of their obligations under relevant, and recently changed, regulations.

The EisnerAmper Ireland Training & Consulting team completed an initial consultation and a Board-wide needs assessment to create a bespoke Board Support and Training programme. This Board Support and Training programme is being delivered on-site over 3 sessions per annum that coincide with Board meetings in Ireland.

After engaging with EisnerAmper Ireland, the Board of the (Re)Insurance Company efficiently enhanced their knowledge of relevant obligations, are now in a better position to demonstrate compliance and displayed “good practice” in relation to their approach to Board training. Additionally, Board member roles and duties were clarified and better aligned with Board, Company and Regulator expectations.

Insurance Company Board Support and Training

The Board of Directors of an Insurance Company was seeking to develop, and commence, an approach to enhance their ongoing knowledge development via training. The EisnerAmper Ireland Training & Consulting team completed an initial consultation and skills gap assessment with each Board member and created a detailed Board Support and Training programme. The training programme commenced and the initial session focused on enhancing Board-wide knowledge to better enable them to:

Explain conceptually the contents of statutory financial statements and the Directors’ responsibilities in relation to approving them;
Discuss the basis of industry and company specific matters contained in the financial statements; and
Explain the process and contents of the QRT returns and the Director responsibilities in relation to their approval.

As a result of the tailored Board Support and Training programme, the Board enhanced their knowledge of relevant obligations efficiently and are now in a better position to demonstrate compliance with CBI expectations, company law and company expectations.

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