Board Member Criteria
Board candidates must meet the following minimum criteria:
- A Benefit Member of the Society.
- Other than the President, who is an ex officio voting member of the Board, no other Officer or employee, or spouse or significant other of an Officer or employee, or persons who are under contract with the Society as licensed agents or brokers may be a member of the Board.
- No conflict of interest that might impair the independence of judgment or adversely influence the decisions or actions of the nominee if he/she is elected as a director.
- A commitment to expend the necessary time to the work of the Board and its committees, including preparation and attendance at meetings.
- Travel may be required for up to four Board meetings per year.
- Shall not serve beyond December 31 of the calendar year in which age 80 is attained.
Board Member Qualifications
The Election Committee, a Committee of the Board, identifies, investigates, recruits, and recommends candidates for membership on the Board of Directors to the existing Benefit Members. Nominees must have the appropriate background, experience and integrity to fulfill their prospective roles such as the education, experience, intelligence, independence, fairness, character, reasoning and judgment to lead the Society. The Election Committee will also assure that the qualifications, expertise and experience of a nominee includes such qualities as integrity, accountability, informed judgment, financial literacy, mature confidence, and high-performance standards.
The following qualifications for nominees for Director should be considered when reviewing the background of potential candidates:
- Proven integrity and a record of substantial achievement.
- A high degree of leadership experience in a complex organization such as a corporation, university, foundation, professional organization or governmental unit, or commensurate non-profit experience.
- A reputation for sound business judgment. It is important that a candidate understands the role of the Board and the workings of the Society in the current business environment. A candidate should be able to objectively appraise management’s plans, programs, achievements and shortcomings while working as part of a team in an environment of collegiality and trust.
- The financial and subject matter expertise required to provide effective oversight of a diversified and heavily regulated financial services or insurance business.
- Willingness to devote the necessary time to the work of the Board and its committees.
- Demonstrated record of community support and involvement.
The Election Committee will assess a nominee’s independence and evaluate whether the nominee’s skills are complementary to the existing Directors’ skills and the Board’s and Society’s needs. As the Election Committee reviews nominees, it will take into consideration that the Board as a whole possesses the various core competencies needed to oversee the Society.