Every Board member has a financial oversight role. Even if you don’t have financial expertise, you are still expected to have a level of financial literacy. This means that you need to have an understanding of the fundamental concepts, conventions and principles underlying financial statements. Top 5 tips to help you become financially literate for corporate boards: Develop a plan and begin the work. Begin by reviewing the annual filings of TSX listed companies that you are interested in. Look for a mentor or someone who has financial expertise. Ask someone you know that has financial expertise if you can spend time with them over the next year [...]

Getting started on your board journey includes building a board profile. So, how does one go about it?  It starts with asking yourself what your value proposition is, and what unique skills and experience you bring to a board. Here are my 3 tips for helping you build your board profile: 1. Define your unique value proposition Boards are made up of a diversity of thought with members bringing different culture, experience, gender, ethnicity, age and geographic representation. So, what is it that you can bring to an already diverse board? What is your unique board value proposition? Think of it like an "elevator pitch" where you have [...]

You have been asked to a board interview. Congratulations!  Now that you have landed the interview what do you need to do to prepare? A board interview is similar to job interview in that you want to put your best foot forward. Where board interviews differ is the preparation from a governance point of view rather than from a management viewpoint. Top ten tips to help you prepare for a board interview Understand conflicts. Ask for their corporate calendar and make sure it doesn’t conflict with your other current boards — also ensure that you have the time to commit to this board. Are there other conflicts that [...]

Understanding financials for a non-finance person can be challenging and even overwhelming. A not-for-profit board role includes a financial oversight role, which means not-for-profit directors need to be financially literate. You do not need to be a financial expert, but you do need to have a fundamental understanding of the financial statements of the organization in order to determine its financial viability. 10 tips to help you become financially literate on a not-for-profit board Understand what it means to be financially literate. Maintain your objectivity by being independent minded, and if you don’t know, ask; ensure you fully understand the financial issues of the organization. Develop a plan [...]

A Board resume is an ongoing, dynamic document. When preparing your Board resume you need to keep it current and keep it fresh. To do this, you need to ask for honest and candid feedback from your own personal advisory board. Next, you need to decide on whether you will prepare your Board resume on your own or if you will engage a firm to help. Having an outsider’s input can help you hone in on your unique value proposition and help develop what skills you want to highlight. Putting together a Board resume is an important step in any Board journey, and that’s why at Women Get [...]

Getting started on your board journey includes building a board profile. So, how does one go about it?  It starts with asking yourself what your value proposition is, and what unique skills and experience you bring to a board. (Learn more about How to prepare yourself for Board roles with Women Get On Board’s Getting Board-ready workshops!) What is your unique value proposition? Boards are made up of a diversity of thought with members bringing different culture, experience, gender, ethnicity, age and geographic representation. So, what is it that you can bring to an already diverse board? What is your unique board value proposition? Think of it like [...]