Aspida Insights

Wayne Bulpitt

Wayne Bulpitt

Joint Chair

Insights on the Governance Guernsey Annual Convention

The Aspida team was out in force at the Annual Governance Guernsey conference yesterday where we were proud to be sponsors.

Our Head of Company Secretarial Services Lezanne Kretschmer had some positive insights from the conference;

  • The increasing importance of the role of the CoSec and the relationship with the Chair;
  • The utilization of digital solutions by the CoSec to improve efficiencies and to allow the CoSec as a governance professional to add more value to boards; and
  • Horizon scanning and the focus on responsibilities and opportunities relating to ESG and specifically the recent change in the Guernsey Financial Services Commission (GFSC) which asks boards of companies to consider the impact of climate change on their strategy and risk profile and, where they judge it appropriate, make climate change related disclosures.

Speaking as a panelist in a discussion on the Dynamics in the Virtual Boardroom, our Joint Chair, Wayne Bulpitt shared a number of his experiences and observations;

  • International boards had fared better than domestic boards over the Covid period as they have been operating in a hybrid manner for some time, with the added complexity of time zones, accents and cultures to overcome.
  • This has been made easier in some respects with the prominence of video solutions which have replaced many telephone calls, making meetings a little easier to manage.
  • His experience is that boards have been able to do what they have needed to, but requiring more time involvement from the Chair and Co Sec in preparing, talking with members to understand areas of concern so that discussions can be focused and all voices heard effectively.
  • The value of earlier investment in the characters of board members to ensure a more effective board has paved dividends, as has a permanent chair, rather than a policy of rotating at each meeting.
  • At a time of conflicting pressures of Economic and Regulatory Substance versus ESG and pressure to reduce air travel etc. the future model of hybrid meetings, calendars and a whole new world advocated by some, isn’t certain. Physical meetings will remain key for some time to come.
  • In closing, Wayne felt that the relationship between Chair and Co Sec had been proven to be vital to the effective running of a board, and thus organisation. Co Sec and the Governance sector has a great opportunity to build on this, utilising automation and digital solutions to focus energy on value added advice and support.

It was a great day with brilliant and insightful speakers and panellists all round, ranging from the Director General of the GFSC, ESG and Cyber experts, to Wellbeing and Mindfulness champions. All key components and ingredients for a sustainable future for Guernsey on the global stage and also for the people on the ground making it all happen.

Get in touch with us to learn more about how Aspida can assist, and you sign up to our newsletter below.

Aspida Insights is where we draw on our knowledge, experience and expertise in key business areas such as compliance and risk management, regulation and corporate governance to offer our thoughts, forecasts and advice on a range of topical issues or areas of client concern.

Demystifying the ICT Questionnaire

Following the publication by the Malta Financial Services Authority ( ‘MFSA’) in December 2020 of its Guidance on Technology Arrangements, ICT and Security Management, and Outsourcing Arrangements (the ‘MFSA ICT Guidance’), and the issuance of a number of related circulars (the ‘ICT Circulars’), more recently, the MFSA sent to all Maltese regulated firms a questionnaire (the ‘ICT Questionnaire).

Read More »

Anti-money laundering, finding a better way

Not your average holiday read, but our Joint Chair, Wayne Bulpitt, took time during his recent holidays to read the Financial Intelligence Service (FIS) Annual Report 2020 and was struck by how little impact evidence is reported.

Read More »

Getting the right compliance culture

Culture is made up of values, beliefs and behaviours which are shared by a group of people and driven by leaders. Everyone in the Financial Services is concerned by it, from junior to senior employee, senior management, the Board of Directors, to shareholders and other key stakeholders. When the workplace is so driven by the bottom line, it is important that a good culture is deeply embedded within an organisation to motivate employees to do right even when no one is looking.

Read More »

Your partner in protecting and growing your business

Subscribe to receive our latest news, views and event information