Asking the Right Questions: How a Board Should Approach Credible Challenge

July 28th, 2015

A well thought out decision making process is key to the success of the board and the financial institution as a whole. Regulators and auditors are looking to see that the board is thorough and educated with their actions. In this video, Lynn McKenzie of KPMG LLP lays out the importance of the credible challenge to management and how to best approach the process in the boardroom.

  • Why is it important for the board to provide a credible challenge?
  • Could credible challenge sour the relationship between the CEO and the board?
  • How should the board provide evidence of oversight?
  • What is the right level of detail in the minutes?

Lynn McKenzie is a partner with KPMG LLP’s advisory services practice, with more than 30 years of business experience working for financial services organizations. Ms. McKenzie’s experience includes providing risk management and advisory services for the last twenty plus years and prior to that, ten years of line and administrative experience at a large regional bank.