Photo independent directors

Independent directors

The appointment of independent directors is becoming increasingly important as closer scrutiny is applied to board composition and retaining directors from outside of the group is a sign of good corporate governance

PWC-ILA Luxembourg Fund Governance Survey 2014

More than a responsibility, a profession

Directors are expected to master an increasing range of skills: strategy, marketing, finance, IT, legal, compliance, asset management, valuation and pricing, risk management, distribution, international and local regulations, liquidity management...; and to allocate more and more time to their function.

None of the core dimensions of good corporate governance is underestimated, even when regulatory obligations are driving the agenda.

Being and acting as an independent director

This role and responsibility includes:

  • Board meeting chairing and organisation: agenda preparation, board pack coordination

  • Comprehensive risk management oversight

  • Business strategy design

  • Marketing activities monitoring

  • Human resources casting

  • Oversight of the delegated functions

  • Regulatory watch

  • Conflict of Interests identification and monitoring

  • Adherence to the industry code of conduct and organising board self-assessment

Sanction regime awareness

Structuring appropriate agenda, ensuring proper oversight, avoiding violations, sponsoring sound management.