![Page 1: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/1.jpg)
Linda BoundsVice President of Financial Services
GOVERNANCE
![Page 2: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/2.jpg)
GOVERNANCE ?
![Page 3: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/3.jpg)
WHAT IS GOVERNANCE?• Provides guidance for authority (Who)• Communicates accountability and authority
for important decisions. (What)• Empowers employees to do the right things• Protects the interest of stakeholders
![Page 4: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/4.jpg)
1. Allows for quicker decision-making2. Fewer embarrassments – “unauthorized” 3. Increases transparency4. Lesson in delegation of authority5. Creates sense of trust – well defined and fair
treatment - empowerment
WHY IS GOVERNANCE IMPORTANT?
![Page 5: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/5.jpg)
WHAT IS OUR MIDWAYUSA’S APPROACH?• Formal Organizational Governance• Formal Departmental Governance• Does not replace Company policy or
job descriptions• Part of overall Leadership System
![Page 6: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/6.jpg)
![Page 7: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/7.jpg)
![Page 8: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/8.jpg)
![Page 9: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/9.jpg)
WHO SHOULD KNOW ABOUTGOVERNANCE?
• All employees in the organization• Used every day in decision process• Posted on “Great Wall” and on
departmental intranet site
![Page 10: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/10.jpg)
![Page 11: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/11.jpg)
HOW ARE THEY USED?
• All Organizational Governance items are part of the Board Agenda
![Page 12: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/12.jpg)
![Page 13: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/13.jpg)
HOW ARE THEY USED?• Provides transparency
– Legal, Ethical, Regulatory Report – Audit Report– Risk Management Report– Compensation Review
“Corporate governance is about shining a light
throughout the whole organization.”
![Page 14: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/14.jpg)
![Page 15: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/15.jpg)
Effectiveness of Governance Documents themselves is not measured. However,
various measures are aligned as they relate to processes and reporting.
How are they effective?
![Page 16: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/16.jpg)
RESULTS• Performance improvement
– Profitability • Efficiency• Effectiveness
– Reputation• Creating Value
– Employee Satisfaction– Sustainability
![Page 17: Linda Bounds Vice President of Financial Services](https://reader036.vdocuments.mx/reader036/viewer/2022062410/56815f5d550346895dce3fbc/html5/thumbnails/17.jpg)
Linda BoundsVice President of Finance
GOVERNANCEQuestions?