Launch Curriculum Governance of Innovation in Banking

 

Effective supervision of innovation in Banking: Exploring and deepening knowledge and insights inextricably linked.

In close cooperation with Hemingway Professional Governance, the Dutch Banking Association launches the Curriculum Governance of Innovation in Banking. In this way, the NVB wishes to support Supervisory Board members of NVB member banks in increasing their knowledge and insight in the field of innovation so that they can make an explicit, impactful and sustainable contribution to the effectiveness of the innovation governance of the banking sector and the bank on which they supervise in particular.

Increase innovation capacity

Due to various factors – ranging from changing regulations to an increase of potentially disruptive technologies and the challenging transition to a more sustainable growing economy - the urgency to increase the innovation capacity of European enterprises and sectors, including the banking sector, is apparent.

The challenge for non-executives is to recognise and understand the focus, attention and knowledge that is required to ensure the development of a ‘safe innovation zone’ within enterprises they supervise. As a result, through their efforts the innovation capacity and focus on sustainability can flourish within financial organisations and the Banking sector.

Why is this necessary ?

Although changing, non-executive boards tend to focus primarily on the more traditional themes of governance. Innovation ability and capacity is not always part of the regular portfolio of the non-executive board. Supervision on innovation sometimes resembles ‘Reshuffling the deck chairs on the Titanic.’ Are we really looking at the rights things?

Global and European innovation landscapes are changing rapidly resulting in changing EU regulations (e.g. changes in data protection legislation in 2018), an increase of potentially disruptive technologies and the challenging transition to a more sustainable growing European economy. These developments have profound effects on EU enterprises, their strategies and supervision and require supervisory bodies to focus more on the innovation capabilities and capacities of European enterprises.

The recent revision of the Dutch Corporate Governance Code explicitly implies: a focus on the long term strategic value creation of the enterprise and the required knowledge and competencies of (Non) Executive Boards in the field of innovation, new business models and technology. In short: a call for action for both executives an non executives.

Curriculum occasion

During 2017 the NVB (Nederlandse Vereniging van Banken) organised, in close cooperation with Hemingway Professional Governance, a successful launch of the Forum Series Governance of Innovation - Innovation in Banking, targeted primarily at non-executives of the Dutch banking community and relevant stakeholders in the sector. The key goal of the Forum was to enable non-executives to develop an higher level insights in the innovation strategy of banks.

Participating non-executives and other members of the banking sector indicated the need and desire to further broaden and deepen their innovation knowledge. In order to enable this the NVB and Hemingway Professional Governance decided to jointly develop the Curriculum Governance of Innovation in Banking.

Curriculum programme and deliverables

The Curriculum focusses at two major developments in innovation impacting the strategic direction of Banks and the role and responsibility of their Non-Executive Boards: Digitalisation and Energy Transition. The key theme of the Curriculum is: The role of the non-executive with respect to the innovativeness of the enterprise.’

As a result of their participation in the Curriculum Governance of Innovation in Banking non-executive board members will be able to identify, assess & prioritise innovation themes and to engage in a Board dialogue about specific relevant innovation themes.

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Hemingway

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