Over 200 directors and senior executives are currently attending either Certificate or Diploma courses organised by the GCC BDI. As a result of a very high level of interest and participation amongst board directors in the region and the success of the Certificate and Diploma programmes, the GCC BDI has now launched the Chartered Director Programme.
The Chartered Director Programme is one of three director development programmes within the GCC BDI Board & Director Development framework:
1. The World of Directorship – Certificate in Board Directorship
This programme was launched in 2019 and it provides participants with the knowledge and understanding required to be an effective company director. It comprises four two-day modules and a multiple choice question examination and successful completion of the Certificate gives Certified Director status.
2. Diploma in Board Directorship
This programme was launched in 2020 and it develops participants’ boardroom skills and behaviours required to be an effective company director. It comprises two x two-day core modules and a one x two-day elective module. Only Certified Directors can enrol for the Diploma level. The Diploma assessment comprises: a multiple-choice question examination, participation in a board simulation and a reflective presentation to a panel of experienced directors.
3. Chartered Director
This programme has just been launched in December 2021 for those Directors who have successfully completed the Diploma in Board Directorship. The designation of Chartered Director is awarded to individual board directors who have successfully led a change activity within their organisation and made an individual presentation to a panel of experienced and distinguished directors providing evidence of their ability to apply their board knowledge and skills in the development and oversight of the change activity they have chosen. Examples of change projects that participants may initiate or contribute to include:
i. Revising a company’s code of conduct / ethics
A board member may wish to oversee and input to revising the company’s code of conduct / ethics
ii. A Board Evaluation for board and the board committees
A board member may wish to oversee and input to an internal board evaluation and development and implementation of a board development plan.
iii. Implementing a family or corporate governance framework
A board member within a family business may wish to oversee and input to developing the company’s corporate governance framework
iv. Developing a director attributes / skills and competency framework and designing a newly appointed directors induction programme
A member of the Nominations and Renumeration Committee may wish to oversee and input to the development of a competency matrix for use when selecting and appointing new directors to the board. The project could also focus upon developing the on-boarding procedures associated with developing a directors induction programme.
v. Reorganizing a company to become a holding company structure
A board member may wish to oversee and input to the development of a holding company structure
vi. Setting up a joint venture or special purpose vehicle
A board member may wish to oversee and input to the development of a joint venture or special purpose vehicle
vii. Determining risk appetite and risk tolerance parameters
A board member may wish to oversee and input to the development of risk appetite and risk tolerance parameters and make stronger links with strategy, organisational performance and the control environment.
A Chartered Director is a person who has gained a high level of skill and competence in being a member of a board of directors and has been recognised by the award of a formal professional designation by the programme partners, namely the GCC Board Directors Institute and the Financial Academy. The Programme is also endorsed by the Capital Market Authority (CMA) of Saudi Arabia.
Chartered Director status is considered a mark of professional competency and is awarded in many countries around the World including the UK, South Africa and Canada.
The Chartered Director Programme encourages participants to develop their skills and to fulfil their role as board directors through the active implementation of change within their organisation. The board is a strategic asset and the best boards make a material contribution to their companies, so it is essential for board directors to undertake professional development to equip them with the knowledge and skills to play their role effectively. Chartered Director is the top professional qualification for directors in the GCC region that demands both knowledge and experience of how to make boards effective.
The Chartered Director Programme puts into practice the learning the participant has acquired from both the Certificate and Diploma in Board Directorship through the application of a single or group of projects. The Chartered Director status is a life time award. However, the award will be revoked if the GCC BDI Professional Code of Conduct has been contravened.
What are the benefits of becoming a Chartered Director?
Achieving the award of Chartered Director means that a director has demonstrated the leadership skills to execute change within their organisation. A Director with an award of Chartered Director is equipped to make a valuable contribution to any Board. The benefits of becoming a Chartered Director are many, but research results from established Chartered Director programmes around the World has found that Chartered Directors demonstrate:
– Higher levels of professionalism
– Keeping up to date on corporate governance matters and business trends
– Greater levels of self-confidence
– Having a “moral compass” associated with higher levels of integrity
– An increased focus upon the long term
– A focus on oversight activities rather than getting involved in operational matters
– Maintaining better relationships with key stakeholders
A Chartered Director is also able to provide evidence that they have personal experience of:
– Providing a vital leadership role within a board
– Using appropriate key board leadership skills and behaviours relating to board matters
– Managing the impact of board culture upon organisational performance and key stakeholders
– Recognising the importance of reputation, ethics and integrity at the level of the board.
– Contributing to effective board dynamics.
What are the eligibility requirements for Chartered Director?
In order to register for the Chartered Director candidates will be required to:
– Be a full Member or Fellow of the GCC BDI
– Have successfully completed the “Diploma in Board Directorship” including passing all of the assessments (i.e. passing the examination, the board simulation and the reflective practice presentation)
– Currently hold either an executive or non-executive director seat on a board for at least one year. This board should have at least 4 members and meet at least quarterly.
– Provide clear evidence of directorial experience and history with details of board(s) and organisation(s).