O2.1 DEFINE OVERSIGHT STRUCTURE & RESPONSIBILITIES
Establish a board of directors that is sufficiently independent of management to oversee the program.
Management and board members should ensure that there is specific responsibility and accountability for oversight of the program.
Key Responsibilities:
> Define mission, vision and values
> Define and evaluate performance against objectives
> Authorize and oversee a business model and strategy to achieve objectives
> Define key mandated and voluntary boundaries of business conduct
> Oversee the hiring, firing, evaluation and compensation of strategic personnel
> Oversee the quality and reliability of public disclosures
> Oversee the quality and reliability of systems to ensure compliance
> Set high-level policy