Event Report : 9th ILA Forum for Directors of Credit Institutions
This October, the ILA Banking Committee successfully organized the 9th Annual Forum for Directors of Credit Institutions. One of ILA’s longest running flagship programs, the two-day event brought together board members and banking executives to discuss key corporate governance trends and challenges.
.Discussions highlighted existing areas of concern for directors but participants also exchanged on emerging topics in a pandemic context including banks’ real estate strategy, employee wellbeing, remote working, and ESG strategy. Representatives from the CSSF and the ECB also shared their views on the role of governance within financial institutions and provided an update on areas where progress is still required. The two-day session concluded with a live case study led by the CSSF.
The Forum’s moderator, Michael Schweiger, observed that “There is no shortage of issues for directors to consider, but a key theme which really cut across all of the discussions is talent. Whether recruiting independent directors, increasing diversity, or designing a remuneration policy to encourage sound risk-taking, talent is key. The human component remains critical to high-quality corporate governance.”
The ILA Banking Committee was also pleased to unveil the 2021 edition of its Guide for Bank Directors, which is Luxembourg’s only authoritative guide for board members of credit institutions and includes an inventory of all board agenda items which must be covered during the course of the annual board cycle. The guide provides insights on Luxembourg-specific legal requirements and highlights industry best practice. ILA members may access the guide here.
Planning is underway for the 10th anniversary edition of the Forum for Bank Directors which is tentatively scheduled for October 2022. We look forward to welcoming new participants as well as alumni. If your institution has already identified board members to register as part of your board’s training / succession planning strategy, please reach out to reserve a seat.