Our board assessment process identifies governance best practices to mitigate company risks. Are you and your board following governance best practices?

Do you regularly have board meetings?
Do you follow a process?
Do you know and understand your company's By-Laws?
Do you have a long range plan?
Do you have a management succession plan?
Is your board wearing too many fiduciary hats?
Is the majority of your directors internal managers?
Are your ESOP trustees also your directors?
Have you been trained and tested in fiduciary and governance best practices?
Is your board ready to have an "outside advisor" assess your board and governance processes?

Following Governance Best Practices can mitigate company risks! To learn more, call us at 860-232-9858!

a. DOL Scrutiny

Today there is increased scrutiny from the DOL on ESOP company fiduciaries. For insurance underwriters, insuring ESOP Fiduciaries and Directors is becoming a very risky hazard. As a result, insurance premiums are rising. It is now beneficial to demonstrate to your underwriters and DOL auditors your fiduciaries and directors can document they are "Best in Class."

b. Measure & Benchmark

We have several assessment tools to identify strengths and weaknesses in your governance system. By identifying those elements, we can benchmark them for future comparison. With our follow-up services, we can help your board address those conditions that expose your company to DOL scrutiny and insurance claims.

c. Our Process

With board approval, we start with a LONG checklist of items including the last 3-5 board meeting minutes, the company's by-laws & long range plan, and financial statements. We will attend a board meeting to observe. When done we share our results and observations, in executive session. A written report will be provided, if requested.

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