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Erschienen in:

2022 | OriginalPaper | Buchkapitel

23. Board Characteristics for Australian Major Banks

verfasst von : Francesco de Zwart

Erschienen in: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia

Verlag: Springer Nature Singapore

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Abstract

Chapter 23 examines the board characteristics for Australian major banks including board and senior management requirements. This begins with an overview of the governance failings of boards of directors including board of director, executive and management turnover, governance variable failings, the ‘challenge’ step in major risk and strategic issues, the board’s role in risk management and board diversity.

For board size, composition and qualification, we look to Turnbull and Pirson and the Walker Review 2009 recommendations including a governance variable for board size and information and task ‘overload’ – the [BankBrdInfoTask] (+/−) variable.

We then consider governance variables for non-executive director (NED) induction, training, development programs, ‘dedicated support’ and financial industry awareness and conclude with the time commitment of NEDs.

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Vorheriges Kapitel Governance of Banks in the GFC and Beyond Key Field No. 5 (Part 5): Boards and Committees, Independence, Expertise and Bank and Risk Culture

Nächstes Kapitel Functioning of the Board and Monitoring and Evaluation of Performance

Australian Prudential Regulation Authority, Prudential Standard CPS 510 Governance, July 2019, accessed 22 September 2019, available at:

https://www.legislation.gov.au/Details/F2019L00662/Download (‘CPS 510’), sections 16–22, p 8.

Francesco de Zwart, Enhancing Firm Sustainability Through Governance, The Relational Corporate Governance Approach, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, Corporations, Globalisation and the Law Series, July 2015, (‘Stage 1’). See discussion in section 7.3.1.2.1 of Stage 1, pp 198–199.

For Stage 1, see also, Francesco de Zwart, “Enhancing firm sustainability through governance – Part 1: The challenge of corporate governance” (2018) 33(2) Aust Jnl of Corp Law 144 and Francesco de Zwart, “Enhancing firm sustainability through governance – Part 2: The framework of the relational corporate governance approach” (2019) 34(1) Aust Jnl of Corp Law 27.

See discussion in section 2.6.2 of Stage 1, ibid., pp 41–43.

CPS 510, above n 1, section 16, p 8.

Ibid, section 17, p 8.

Ibid, section 18, p 8.

Ibid, section 19, p 8.

Ibid, section 20, p 8.

Ibid, section 21, p 8.

Ibid, section 22, p 8.

Brian R Cheffins, “Did Corporate Governance ‘Fail’ During the 2008 Stock Market Meltdown? The Case of the S&P 500” ECGI - Law Working Paper No. 124/2009, (1 May 2009), accessed 13 June 2017 at SSRN: http://ssrn.com/abstract=1396126, 24.

Ibid.

Ibid, 27 (footnote omitted).

Ibid, 28.

David Walker, A review of corporate governance in UK Banks and other financial industry entities, Final recommendations, 26 November 2009, The Walker Review secretariat, accessed 14 March 2017 at http://www.http://webarchive.nationalarchives.gov.uk/+/http:/www.hm-treasury.gov.uk/d/walker_review_261109.pdf (‘Walker Review 2009’), Executive summary and recommendations, p 12.

Ibid.

European Commission, Green Paper, Corporate Governance in Financial Institutions and Remuneration Policies, COM(2010) 284 final, Brussels, 2 June 2010, accessed 23 March 2017 at http://www.ecgi.org/commission/documents/green_paper_com2010_284_en.pdf (‘EC Green Paper 2010’), sect. 3.3, p 6.

Ibid, section 3.3, pp 6–7.

Australian Prudential Regulation Authority (APRA), Prudential Inquiry into the Commonwealth Bank of Australia, Final Report, 30 April 2018, (APRA Final Report), accessed 1 June 2018 at www.apra.gov.au/AboutAPRA/.../CBA-Prudential-Inquiry_Final-Report_30042018.pdf, section 2.2.1, pp 13–15.

Ibid, pp 13–14.

EC Green Paper 2010, above n 17, section 3.3, pp 6–7.

Shann Turnbull and Michael Pirson, “The Future of Corporate Governance: Network Governance – A Lesson from the Financial Crisis”, Fordham University Schools of Business Research Paper No. 2010–010, (15 March 2010), accessed 5 April 2017 at SSRN: http://ssrn.com/abstract=1570924, 3.

Ibid, 4.

Ibid, 8.

Ibid.

Walker Review 2009, above n 15, Recommendation 1, p 14.

Ibid, Recommendation 2, p 14.

Ibid, Recommendation 3, p 14.

Ibid, Recommendation 4, p 14.

See discussion in section 8.28.2.2.2 of Stage 1, above n 2, pp 223–229.

See discussion in section 8.2.2.1 of Stage 1, above n 2, pp 225–226.

See discussion in section 8.2.2.2 of Stage 1, above n 2, pp 227–228.

Ibid.

See discussion in section 7.3.2 of Stage 1, above n 2, pp 206–207.

See discussion in section 7.3.2.1.2 of Stage 1, above n 2, p 211.

Titel: Board Characteristics for Australian Major Banks
verfasst von: Francesco de Zwart
Verlag: Springer Nature Singapore
Buch: The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia
Print ISBN: 978-981-16-1709-6

Electronic ISBN: 978-981-16-1710-2

Copyright-Jahr: 2022
DOI: https://doi.org/10.1007/978-981-16-1710-2_23

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