GOVERNANCE
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GOVERNANCE. Linda Bounds Vice President of Financial Services. GOVERNANCE ?. WHAT IS GOVERNANCE?. Provides guidance for authority (Who) Communicates accountability and authority for important decisions. (What) Empowers employees to do the right things Protects the interest of

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Linda Bounds Vice President of Financial Services

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Linda bounds vice president of financial services

GOVERNANCE

Linda Bounds

Vice President of Financial Services


Governance

GOVERNANCE ?


What is governance

WHAT IS GOVERNANCE?

  • Provides guidance for authority (Who)

  • Communicates accountability and authority for important decisions. (What)

  • Empowers employees to do the right things

  • Protects the interest of

    stakeholders


Why is governance important

WHY IS GOVERNANCE IMPORTANT?

  • Allows for quicker decision-making

  • Fewer embarrassments – “unauthorized”

  • Increases transparency

  • Lesson in delegation of authority

  • Creates sense of trust – well defined and fair treatment - empowerment


What is our midwayusa s approach

WHAT IS OUR MIDWAYUSA’S APPROACH?

  • Formal Organizational Governance

  • Formal Departmental Governance

  • Does not replace Company policy or job descriptions

  • Part of overall Leadership System


Who should know about governance

WHO SHOULD KNOW ABOUTGOVERNANCE?

  • All employees in the organization

  • Used every day in decision process

  • Posted on “Great Wall” and on departmental intranet site


How are they used

HOW ARE THEY USED?

  • All Organizational Governance items are part of the Board Agenda


How are they used1

HOW ARE THEY USED?

  • Provides transparency

    • Legal, Ethical, Regulatory Report

    • Audit Report

    • Risk Management Report

    • Compensation Review

“Corporate governance is about shining a light throughout the whole organization.”


Linda bounds vice president of financial services

How are they effective?

Effectiveness of Governance Documents themselves is not measured. However, various measures are aligned as they relate to processes and reporting.


Results

RESULTS

  • Performance improvement

    • Profitability

      • Efficiency

      • Effectiveness

    • Reputation

    • Creating Value

    • Employee Satisfaction

    • Sustainability


Linda bounds vice president of financial services

GOVERNANCE

Questions?

Linda Bounds

Vice President of Finance


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