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CPD Webinar Series – Succession Planning: Developing Leadership for a Sustainable Future

ECSE-PBC Governance CPD Webinar Series

Succession Planning: Developing Leadership for a Sustainable Future

Summary/Purpose: One of the key challenges facing Caribbean organizations is ensuring that they have the human capital, to ensure effective performance that will support the Board to deliver ongoing sustainable success.

It is important to review your leadership team to assess whether you have the right all round capabilities, particularly for the CEO or equivalent, who is required to lead the organization in accordance with its strategic vision.

Creating a balanced, creative and entrepreneurial Board requires a considerable degree of forward planning and talent management. Equally the board of directors will need regular reviews and periodic refresh to ensure that the mix of skills and attributes reflects the strategic vision and the constantly changing environment in which business operates.

Effective performance of a board requires appropriate leadership, composition and independence to optimise its ability to deliver informed decision making and clarity on risks. An effective board can lead the organization forward into an uncertain future with confidence.

Content: In this engaging and interactive session, we will explore the factors for consideration when evaluating whether the CEO may need to be replaced, and the mechanics for doing so. A business will not be sustainable if it is saddled with a CEO that is no longer a good fit for the organization. We explore best practices for dealing with this extremely sensitive, people related problem.

The Nominating Committee is a key board committee, not a poor cousin, as it is tasked with ensuring that the board has the appropriate composition for leading the organization in a world of VUCA – volatility, uncertainty, complexity, and ambiguity.

We explore the role and function of the Nominating Committee in relation to board succession, and specifically areas they need to consider, such as independence of mind and behaviour, and ensuring the right mix of skills. We look at the purpose and value of the board skills matrix and consider how to determine what types of skills and attributes should be included.

We will also look at the mechanics of board director succession, such as how to replace a vacancy on the existing board, including adherence to term limits/fixed terms. Ideas on how to create a framework that ensures objective recruitment of individuals with the right skills and attributes and delivers all diversities, particularly cognitive diversity.

An effective Nominating Committee negates the need for and influence of shadow directors, which is problematic in relation to accountability and decision making.

Benefits: Participants will gain a strong appreciation of what succession planning should look like at the apex of their organization. Understand what the right questions are to ask to assess whether the existing leadership is fit for purpose, and what to do when changes are necessary.

Delegates will be better informed and more skilled regarding the role and value of the Board Nominating Committee and see the significance of creating a framework that ensures the right people are appointed at the right time.

All the learning will support every director and board to lead their organization forward to a sustainable future.

Who should attend: Board chairs, company directors, company secretaries, chief executives and any executive working with or supporting the board.

Registration Fees:
EC$295 (US$110) payable to the Eastern Caribbean Securities Exchange Ltd by Credit Card, Wire Transfer or Electronic Funds Transfer (EFT) on or before Friday 16 February 2024, to confirm participation.

Discounted Rate for ECSE Affiliates and CGIC Members – EC$270 (US$100)
(CGIC members must include their membership number to benefit from this discount)

Registration: The webinar will be delivered on February 21, 2024, at 9AM AST (UTC-4). To register click here

Your Facilitator:

Sharon Constançon

Sharon, who is based in the UK, is a Chartered Governance Professional and has been a Fellow or Associate of the UK Chartered Governance Institute for over 40 years.

Sharon is also a Chartered Director of the Institute of Directors and holds an MBA and several Financial Services and Regulatory qualifications.

She is on the Court of the Worshipful Company of Chartered Secretaries and has chaired their Membership Committee and is on the Court (NED). She is the Chairman and acting CEO of the South African Chamber of Commerce in the UK and Chairs the Council of Foreign Chambers in the UK.

She is CEO of the Genius Boards governance group of companies and runs foreign exchange risk management services to global corporates that trade internationally.

Sharon listed her first company on the Stock Exchange and is responsible for the creation of a number of complex “software as a service – SaaS” online products address forex risk, governance effectiveness, risk assessment and compliance evidence libraries.

She has lectured for four years for the final Master’s Level 7 exam for the Chartered Governance Institute on Boardroom Dynamics and lectures on Risk Management for the Corporate Governance Institute for their Non-Executive program.
Sharon has authored many pieces on governance focusing on the presence, impact and management of boardroom dynamics, speaks at international conferences, leads on governance webinars and runs workshops and case studies to support turnaround governance learning.

(27) Sharon Constançon CDir MBA FCG | LinkedIn
Genius Boards

CPD Webinar Series – Preparing Boards to Oversee Risk in 2023 and Beyond

ECSE-PBC Governance CPD Webinar Series

Preparing Boards to Oversee Risk in 2023 and Beyond

Summary/ Purpose/ Content: Looking to 2024, elevated levels of disruption which intensified in 2023 include dangers from digitalization, talent shortages, the war in Ukraine, high energy prices and inflation, technology and AI, geopolitical and economic uncertainty and other risks putting strains business models. The new war in Israel may further alter the geopolitical landscape. Climate Change may be the biggest risk the world has ever faced. 

Now is the time for boards to employ a best practices approach to overseeing risk. But Are boards equipped, and do they understand enterprise risk management, and are best practices in risk being implemented by management? Can boards oversee a risk program which has not yet been implemented by management? How can management assist boards in being more prepared? 

Attend this session to understand why boards fail in risk oversight, and learn Key Actions boards can take to implement and practice proper risk governance.

Outcomes and Benefits: Participants will receive a greater appreciation of the benefits of instigating an enterprise-wide risk management framework that will provides the holistic data that is needed to ensure that directors can meet their oversight duties in ensuring their organization continues to operate within its risk appetite. For executives, they will have the tools to understand how to develop and maintain an ERM framework and how to monitor ongoing risks in a fluid, constantly shifting risk environment. For directors they will be armed with the right questions to ask so that they can meet their oversight obligations. We look at specific risks as well as the threat of emerging risks and what the board and executive should be doing to proactively respond to as yet unseen threats.

Who Will Benefit by Attending: Corporate and board secretaries, board and committee chairs, individual directors, boards (as a collective), CEOs and any senior management team member or governance professional that is involved with risk identification and management, and who interacts with the board in their organization.

Registration Fees:
EC$295 (US$110) payable to the Eastern Caribbean Securities Exchange Ltd by Credit Card, Wire Transfer or Electronic Funds Transfer (EFT) on or before Friday 24 November 2023, to confirm participation.

Discounted Rate for ECSE Affiliates and CGIC Members – EC$270 (US$100)
(CGIC members must include their membership number to benefit from this discount)

Registration: The webinar will be delivered on Wednesday November 29th, 2023 at 9:00AM – 10:30AM (UTC-4). To register click here

Your Facilitator:

Bio: Stephen (“Steve”) Mallory has served on the boards of two Canadian government federal Crown Corporations. He served from 2012-2017 with VIA Rail, Canada’s national passenger railway where he was Chair of the GRS/Governance, Risk and Strategy Committee, and a member of the Pension Committee, and from 2008-2012 as a director and member of the Audit Committee with the Standards Council of Canada.

Steve is Principal, Directors Global Risk Consulting, providing Enterprise Risk Management (ERM) advice and training to boards and executive teams across Canada and elsewhere. Previously, he served as CEO and Region Head within two of Canada’s largest insurance firms and founded a third firm. He is a graduate of both the Canadian Institute of Corporate Directors (ICD.D program), and the Canadian Government School of Public Policy, Directors Program.

His teaching experience includes advising hundreds of directors, executives, and business students, including at the GPC (Governance Professionals of Canada), ICD (Institute of Corporate Directors), and with York University’s MFAC (Master’s in Financial Accountability) program. His papers have appeared in various best-selling business books including the “Handbook of Board Governance” (Wiley Press, 2016, 2020, and pending 2023 versions, LeBlanc Editor).

His charity work includes having led teams funding drilling of 27 water wells in Africa, supplying 27,000 people with fresh water www.directorsglobal.com/.

CPD Webinar Series: Regional Environmental and Social Governance: Cybersecurity – The Critical Questions for Boards to Ask

ECSE-PBC Governance CPD Webinar Series

Cybersecurity – The Critical Questions for Boards to Ask

Summary/Purpose: Board members need to be conversant in a range of topics, making decisions that have wide-ranging impact for their organizations and the wider stakeholders. It is critical that they make informed decisions, and nowhere is this more important than the growing field of cyber security. Failing to address an organization’s vulnerability to cyber-attacks can be catastrophic for an organization, resulting in lost productivity, probable regulatory fines, reputational damage, and significant loss of trust that will adversely impact future business growth. Regulators worldwide increasingly expect boards to oversee the IT infrastructure of their firms. A board that is not asking the right questions and insisting on evidence to get comfort from the Chief Information Officer or equivalent is derogating from their fiduciary duty. This session is designed to equip boards and those who work with them with an awareness and understanding of the importance of cyber security and the critical questions boards should ask to ensure proper oversight of this critical function to meet their governance accountability. Boards need to understand that the frequency and severity of attacks has never been so pronounced. It is no longer a case of IF your organization gets attacked but WHEN. Preparation is key.

Content: The session will cover the key questions boards need to ask management when assessing the organization’s cyber security arrangements. We consider how the IT infrastructure should contain robust defences and protection against cyber-attacks; we identify the key questions directors should ask to exercise their governance and fiduciary duty in a proactive way, and importantly be conversant enough with the subject matter to understand the answers, understanding that the board cannot assume that management has it covered, and that when data leaks occur, scrutiny inevitably falls on the board. We will briefly look at the regulatory regime that highlights the increased expectations of regulators in this area; we assess the importance of having cyber security insurance whilst recognizing its limitations and how it is a poor substitute for diligent oversight. We also consider the emergence of Artificial Intelligence and how AI represents both an opportunity and a threat to organizations as AI enables the perpetration of more sophisticated and sustained cyber-attacks, and organizational leaders need to be ready for this new reality. We also recognize that the issue of cyber security, while it is not new, is much more urgent than 20 years ago and that an attack on one organization is an attack on the wider industry.

Outcomes and Benefits: Participants will walk away with a renewed perspective and motivation to review their company’s cyber-security arrangements as well as a greater appreciation of their role in ensuring good governance. They will understand how technology and cyber-security form the foundation of the organization’s assets and ability to create value, and so there is a need to take a proactive risk-based approach to oversight of this area. Most importantly, they will leave with useful tools and ideas for educating themselves to ask the right questions and understand the answers. In doing so, they can make informed decisions that will help avoid potentially catastrophic attacks on their IT infrastructure with the subsequent financial, legal, and reputational fallout.

Who Will Benefit by Attending: Corporate and board secretaries, board and committee chairs, individual directors, boards (as a collective), and any senior management team member or governance professional that is involved with sustainability and who interacts with the governance function and/or the board in their organization.

Registration Fees:
EC$295 (US$110) payable to the Eastern Caribbean Securities Exchange Ltd by Credit Card, Wire Transfer or Electronic Funds Transfer (EFT) on or before Friday 8 September 2023, to confirm participation.

Discounted Rate for ECSE Affiliates and CGIC Members – EC$270 (US$100)
(CGIC members must include their membership number to benefit from this discount)

Registration: The webinar will be delivered on September 13, 2023 at 9:00AM to 10:30AM UTC-4.
Click HERE to register

Your Facilitator:

Bruno Soares

Mr. Bruno Soares
Senior Executive Advisor | Professor
Bruno is an experienced Information and Technology professional with over 20 years of experience in Audit, Consulting, and Advisory. He has expertise in Governance, Risk, Control, Audit, Information Security & Privacy, and Digital Transformation. He worked for KPMG and Deloitte and in 2012 he founded GOVaaS – Governance Advisors as-a-service, where he is currently Senior Executive Advisor, and he actively collaborates with an ecosystem of local and international partners, particularly IDC Portugal where since 2015 he is the Leading Executive Senior Advisor for Digital Transformation, Governance, Strategy, and Security related areas.

He is a certified PMP, CISA, CGEIT, CRISC, COBIT and a LEGO SERIOUS PLAY Facilitator. He teaches at various universities in Portugal and abroad and is the founder and president of the ISACA Lisbon Chapter. In 2019, he was awarded the ISACA John Kuyers Award for Best Speaker. In 2021, he ran for Mayor of Lisbon, Portugal.

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Shareholder Contact Update GESL

GRENLEC Shareholder Contact Update

CPD Webinar Series: Regional Environmental and Social Governance: A Challenge and an Opportunity for Caribbean Boards

ECSE-PBC Governance CPD Webinar Series

Regional Environmental and Social Governance: A Challenge and an Opportunity for Caribbean Boards

Summary/Purpose: The world is changing rapidly and recent events such as wars, political instability, pandemic, and climate change are placing greater emphasis on the role that business plays as part of the wider community. The obligations that businesses, and, by definition, the boards and executive management have to the wider community and stakeholders means that environmental and social governance (ESG) is no longer a compliance checklist or promotional activity (if it ever was). It is now a strategic imperative, and needs to be built into the company’s strategy, culture, and reporting systems. However, getting ESG right can become a source of competitive advantage. The purpose of this session is to provide boards with a better understanding of ESG principles and reporting obligations; and how they can ensure that their organization can integrate ESG into their strategy to become a good corporate citizen; and meet the needs of their stakeholders to become a truly successful and valuable part of the wider community from which they draw their resources.

Content: The session will describe the evolution of ESG from the old CSR model to the modern integrated ESG model of today, including an overview of the various bodies that oversee the reporting of non-financial metrics. We define ESG and its pillars, and what boards need to do to integrate ESG systems and thinking into the strategy, culture, and DNA of the company. We propose that this is not only necessary, but presents a significant opportunity for innovation, enhancing the reputation of the organization, attracting capital investment, and attracting the brightest and best talent to the company as a desirable place to work. Although sustainability oversight and integrated reporting is at the nascent stage in the Caribbean, there have been some pioneers in this space, and we look at one or two examples that other companies in the region can aspire to.

Outcomes and Benefits: Participants will walk away with a different perspective around ESG and be motivated to challenge management to develop ESG policies and practices that will position the company for growth in the future and meet its obligations to its various stakeholders. ESG represents an enormous opportunity for businesses, and attendees will not only understand the benefits, but leave with useful tools and ideas for integrating ESG into their boardroom and the wider organization.

Who Will Benefit by Attending: Corporate and board secretaries, board and committee chairs, individual directors, boards (as a collective), and any senior management team member or governance professional that is involved with sustainability and who interacts with the governance function and/or the board in their organization.

Registration Fees:
EC$295/US$110 payable to the Eastern Caribbean Securities Exchange Ltd by Credit Card, Wire Transfer or Electronic Funds Transfer (EFT) on or before Friday 30 June 2023, to confirm participation.

Discounted Rate for ECSE Affiliates and CGIC Members – EC$270/US$100
(CGIC members must include their membership number to benefit from this discount)

Registration: The webinar will be delivered on Wednesday July 5, 2023 at 9:00AM to 10:30AM UTC-4.
Click HERE to register

Your Facilitator:

Wendell Lawrence, OBE

MR WENDELL E LAWRENCE, OBE, MSc, CPA, CGMA
Wendell E Lawrence OBE has considerable experience in assisting clients in a range of matters including governance, finance, management, and taxation. His intimate knowledge of St. Kitts and Nevis and of the Caribbean region has helped to establish Caribbean Governance Consultants Inc, the company he founded, as one of the Caribbean’s leading providers of financial consultancy and governance services to clients in the region interested in improving corporate governance in their organizations and to international clients interested in establishing a presence, investing, or doing business in the Caribbean.

He has acquired first-hand knowledge of the legal and regulatory framework and business climate of various Caribbean Jurisdictions through the roles he played as the Financial Secretary of St. Kitts and Nevis, a Director of the Eastern Caribbean Central Bank (ECCB), Chairman of the Regional Debt Coordinating Committee (RDCC), a Director of the Caribbean Development Bank, a member of the Regional Judicial and Legal Services Commission (RJLSC) that plays a key role in the Governance of the Caribbean Court of Justice (CCJ), and St. Kitts and Nevis Ambassador Plenipotentiary and Extraordinary (with accreditation to the Caribbean Community (CARICOM), the Organization of Eastern Caribbean States (OECS) and the Association of Caribbean States (ACS). He was instrumental in the restructuring of the Caribbean Community in the role of Project Manager, and in reviewing the Governance structure of the Caribbean Court of Justice in a consultative role.

Panel Discussions on Creating Wealth in the ECCU

Panel Discussions on Creating Wealth in the ECCU

As part of the 21st Anniversary of the Eastern Caribbean Securities Market (ECSM), the Eastern Caribbean Securities Exchange (ECSE) and the Intermediary Working Group of licensed ECSE member broker-dealers (IWG), held two public panel discussions to promote participation in Eastern Caribbean Securities Market (ECSM) to potential corporate Issuers and Investors. The panel discussions were held on April 24th and 25th at the Harbor Club Hotel in Saint Lucia.

The panel held on Monday 24th April, which targeted businesses and business advisors, focused on Financing Business Growth via the ECSM. The discussion was moderated by Laurent Hadley, Manager, Treasury & Investments, Bank of St Vincent & the Grenadines Ltd and included the following panelists:
o Trevor Blake, Managing Director, Eastern Caribbean Securities Exchange Group
o Norlann Gabriel, Head – Regional Operations, First Citizens Investment Services Ltd
o Samantha Lewis, Analyst, Eastern Caribbean Securities Regulatory Commission
o Romario Sterling, Assistant Manager, Capital Market, VM Wealth Management Limited

The panel held on Tuesday 25th April targeted current and potential investors under the general theme of Investing on the Eastern Caribbean Securities Market (ECSM). The presentations focused on the role of the ECSM market institutions and provided insights on the process of building an investment portfolio.
The session was moderated by Aaron Logie, Executive Manager, Finance, Grenada Cooperative Bank Ltd and included the following panelists:
o Geron Burnett, Senior Manager, Operations Division, Eastern Caribbean Securities Exchange
o Francine Felicien, Analyst, Eastern Caribbean Securities Regulatory Commission,
o Gale Cumberbatch, Senior Investment Associate, First Citizens Investment Services Ltd, and
o Cedric Charles, Senior Manager, Investment Banking Services, Bank of Saint Lucia Ltd

Recordings of these panel discussions will be disseminated for the benefit of the wider regional public in the coming weeks via various media platforms and via the ECSE’s and member broker-dealers’ YouTube pages and social media channels.

Regional Schools Investment Competition 2023

VFCSS Invest wins Inaugural Regional Schools Investment Competition

VFCSS Invest of View Fort Comprehensive Secondary School, Saint Lucia is the Regional Champion of the Regional Schools Investment Competition. VFCSS won the Intra-Country segment of the competition held during February 2023 and went on to represent Saint Lucia in the Regional stage of the competition which ended on 24th March 2023.

Also competing in the regional stage of the competition were the following country winners:

  1. Anguilla: Rainbow City Investors, Albena Lake- Hodge Comprehensive School.
  2. Antigua and Barbuda: Green Magnates Ent., Irene B. Williams Secondary.
  3. Dominica: The Gifted Profits, Arthur Waldron Seventh Day Adventist Academy.
  4. Grenada: AHS Angel Investors, The Anglican High School.
  5. St. Kitts and Nevis: Financial Gems, Clarence Fitzroy Bryant College.
  6. St. Vincent and the Grenadines: SMSS Investors’ Group, St. Martin’s Secondary School.

AHS Angel Investors of Grenada were adjudged runners up in the regional competition.

The prize giving ceremony for the regional winner took place on 25th April, at the Harbor Club Hotel in Saint Lucia. The five-student team and teacher-guide were recognised for the team’s achievement and were presented with a plaque and the rotational Winner’s trophy. Vieux Fort Comprehensive Secondary was also awarded a cash prize of $5,000. The prize giving ceremonies for the other country winners of the Intra-Country stage of the competition will take place in the respective countries over the next few weeks.

The competition was created to be a dynamic learning experience for high school and first-year college students and introduces them to investing while providing the opportunity to experience securities market activity firsthand. The initiative, which is a collaborative effort of the Eastern Caribbean Securities Exchange (ECSE), the Eastern Caribbean Securities Regulatory Commission (ECSRC) and licensed broker-dealers, aims to stimulate an interest in investing among young persons and to create a pathway for young investors to become active market participants in the future.

Photos and videos of the Regional and Intra-Country prize giving ceremonies will shortly be available on the ECSE’s website ecseonline.com, and social media pages as well as via the broker-dealer pages. Contact details and web addresses for the six ECSE licensed member broker dealers can be found here: Broker Dealer – ECSE (ecseonline.com)

Caribbean Exchange Index

Caribbean Exchange Index

The Caribbean Exchange Index (CXNI) was launched in October 2022 and is designed to measure the performance of all securities listed on the Main Markets of the participating regional stock exchanges. Cross-listed securities are included in the market capitalization calculation of their domestic stock exchange only. Values for the CXNI is available from the base date of October 1st, 2022.

Participating Stock Exchanges:

The Barbados Stock Exchange Inc.

The Eastern Caribbean Securities Exchange

The Guyana Association of Securities Companies and Intermediaries Inc.

The Jamaica Stock Exchange

The Trinidad and Tobago Stock Exchange

Inaugural Regional Schools Investment Competition – 14 February, 2023

Inaugural Regional Schools Investment Competition

Intra-Country Winners Announced – Regional Schools Investment Competition

We are pleased to announce that the winners of the Intra-Country portion of the Regional Schools Investment Competition which took place over the period 27th February through 3rd March.  They are:

  1. Antigua and Barbuda: Irene B. Williams Secondary, Green Magnates Ent.
  2. Dominica: Arthur Waldron Seventh Day Adventist Academy, The Gifted Profits
  3. Grenada: The Anglican High School, AHS Angel Investors
  4. Saint Lucia: Vieux-Fort Comprehensive Secondary School, VFCSS Invest
  5. St. Kitts and Nevis: Clarence Fitzroy Bryant College, Financial Gems
  6. St. Vincent and the Grenadines: St. Martin’s Secondary School, SMSS Investors’ Group

These six winning schools will now progress to the next phase of the competition, in which eight schools, one school from each of the eight member countries of the Eastern Caribbean Currency Union, will vie for overall Regional Champion over the period 13th March to 21st March.  The six schools will be joined by the Albena Lake-Hodge Comprehensive School’s – Rainbow City Investors, out of Anguilla and the Montserrat Secondary School’s – MONEY G.R.R.A.M.S, in the Regional Championship stage of this inaugural Regional Schools Investment Competition.    

The competition was created to be a dynamic learning experience for high school and first-year college students and introduces them to investing via the Eastern Caribbean Securities Exchange (ECSE). The initiative which commenced on 16th February with an Education Webinar and Competition briefing, enables students to experience securities market activity firsthand. Participants have the opportunity to test their knowledge while gaining useful investing insights and skills.

The competition, which is a collaborative effort of the ECSE, the Eastern Caribbean Securities Regulatory Commission and licensed broker-dealers, aims to excite and inspire young people to learn more about investing and to create a pathway for young investors to become active market participants in the future.

Further updates on the competition can be found on the ECSE’s website ecseonline.com, and social media pages.

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