The Importance of Policy, Regulation and Geopolitical Risks in Board Governance

On July 23, 2024, Odgers Berndtson hosted an exclusive interactive panel discussion at National League of Cities in Washington, DC on the importance of policy, regulation, and geopolitical risk competence on corporate boards. The discussion included the evolving responsibilities of governance expectations and decision making and brought together nearly 100 board members, CEOs, and industry leaders.

Conrad Woody, Managing Partner, Washington Office & Head of Odgers Berndtson’s Association and Corporate Affairs Practice, led the panel discussion where several key themes emerged such as Enterprise Risk Management, Environmental, Social and Governance (ESG) factors, and AI integration and implications. He was joined by panelists and public company board directors Kimberly Reed, former Chairman of the Board of Directors and President & CEO at Export-Import Bank of the United States; National League of Cities CEO Clarence Anthony; and Parsons Corporation CEO Carey Smith.

The session provided attendees with valuable insights and actionable strategies to enhance board value from legal, policy, and risk management perspectives. The panelists also offered guidance for aspiring directors on positioning themselves for future board opportunities. Discussion points included:

•          Board Governance and Oversight: Establishing a robust governance structure, defining roles and responsibilities, and ensuring accountability.
•           AI and Governance: Ensuring AI initiatives align with the organization’s strategic objectives and ethical standards. Staying ahead of emerging and international risks such as those related to national security, cyber threats, workforce skillset gaps, and worldwide environmental & sustainability concerns.
•           Proactive Risk Identification: Staying ahead of emerging and international risks such as those related to national security, cyber threats, workforce skillset gaps, and worldwide environmental & sustainability concerns. 
•          Tackling Threats: Staying abreast of the latest trends, technological advancements, and governmental regulatory changes that could impact the organization’s commercial success.
•           Board Readiness: Preparing executives in the Association, Policy, and Corporate Affairs/ESG verticals for corporate directorship opportunities by enhancing governance skillset, displaying a sophisticated understanding of enterprise and geopolitical risk, and aligning strategic business knowledge with corporate executive and not-for-profit board leadership.
•          Securing a Board Directorship: Establishing a unique value proposition by identifying sector-specific expertise, governance competencies, and industry knowledge.

The event’s engaging discussion, punctuated by the personal stories shared by the panelists, was well received by attendees. This broad exchange of ideas and information between CEOs and industry leaders underscores Odgers Berndtson’s firmwide commitment to elevating the organizational performance of its clients.

The event was closed by Odgers Berndtson US CEO Kennon Kincaid, who expressed gratitude to all panelists and participants, emphasizing the firm’s dedication to helping clients build and develop exceptional leaders and teams.