(SKNIS): The Caribbean Governance Training Institute (CGTT) in collaboration with the Financial Services Regulatory Commission (FSRC), St. Kitts Branch, is currently hosting a Chartered Director Programme which runs from Monday, April 11 to Wednesday, April 13, at the St. Kitts Marriott Resort.
In an interview with the St. Kitts and Nevis Information Service (SKNIS), Dr. Chris Bart, Chairman and Co-Founder of the CGTT in St. Lucia, praised the Federal Government for recognizing the importance of the programme.
“I think it is exceptionally forward-thinking of the Government of St. Kitts and Nevis to see and recognize the kind of work that we are doing here and its benefits to the many directors the government ultimately have to appoint to its own commission,” he said, while adding that the Government should be applauded.
The chairman explained that the team is currently in the Federation to assist in raising the governance literacy standards of directors from the Caribbean region including St. Kitts and Nevis, Antigua and Barbuda and the British Virgin Islands, to the 21st Century levels. Another objective is to give the directors “the knowledge, competence and the courage to take up the new found role which will basically guarantee that they will not fall prey to the bad practices that have caused so many well-known global corporations to fail in the past.”
Commenting on the morning’s opening proceedings, Dr. Bart stated that the sessions were designed to introduce the directors to the major principles of corporate governance and advise them as to the two major jobs that all great directors are ultimately called upon to carry out.
“One, is to make sure that the organization is making great decisions rather than satisficing or compromising decisions,” he said. “The second of course is to provide high level stewardship activities that will help protect the organization and protect them especially from what we like to call the four evil sisters of corporate governance.”
Dr. Bart said that the four evil sisters in reference are misallocation, misappropriation, misrepresentation and misconduct. He noted that the evil sisters are present in every organization and directors need to be very vigilant and do all in their power to keep them away.
He said that the Chartered Director Programme is a life changing method.
“It is a transformative process that we put our directors through,” said Dr. Bart. “They will never be able to enter a boardroom again with the same perspective and attitude and their job now will be to help their fellow directors begin the same transformation process that will help lift their governance practices up to 21st Century standards.”
Dr. Bart explained that on Wednesday night, the directors will sit a very difficult and challenging two hour examination. He stated that once they return passing grades they will earn the right to use the designation Chartered Director and insert the post-nominal “C.Dir.” after their names.
Fifteen directors representing all aspects of organizations including the public and private sector, government commissions, the education sector and universities are in attendance at the 3 day workshop.
Dr. Chris Bart is also the Founder of The Directors College in Canada. From its inception in 2003 to 2013, he served as its inaugural Principal and Lead Professor. The Directors College provides a diverse group of seasoned directors, experienced executives, and governance scholars who all offer practical and real-life examples through discussion, insights, and simulations.