CFP Board’s Board of Directors is accountable for CFP Board’s success and responsible for its governance. The Board is composed of individuals with varied backgrounds, a majority of whom hold CFP® certification.
The Board's Responsibilities
The Board establishes policies through CFP Board’s Bylaws, Mission and Objectives, and charges CFP Board’s staff to conduct activities within the parameters set by those policies.
The Board is responsible for oversight of the organization’s activities and the performance of the Chief Executive Officer, who is accountable for ensuring the business plan is implemented within the prudent and ethical limitations set by the Board.
CFP Board governance policies outline the dynamics of the Board’s relationship to staff and the Board’s delegation and monitoring responsibilities. The Board determines what authority it will hold and what authority it will delegate. The method of delegation is a formal, circular process that includes clear roles and accountabilities:
- The Board defines outcomes to be achieved.
- The Board defines the boundaries of ethical and prudent operational behaviors and conditions in policy, which serve as the Executive Limitations.
- The Board assigns these expectations (outcomes and boundaries as defined in policy) to the CEO and formally and rigorously monitors the CEO’s performance against those expectations.