Non-executive Director Programme Session 2 | What is the Role of the NXD in assessing Risk

The role of an NXD in assessing risk is critical in ensuring effective governance and decision-making within an organization. NXDs should bring an independent perspective to the boardroom, offering insights and expertise that may differ from those of executive management. In assessing risk therefore, NXDs can perform a number of key functions such as monitoring independent oversight, risk appetite and strategy alignment, risk metrics, specialist expertise, stakeholder communication and crisis management.

This independent perspective and oversight help to foster a culture of risk awareness and responsible decision-making which should then extend across the organisation.

But in addition to this, boards must also assess and interpret geopolitical risk to help protect the organisation and make informed decisions. This type of risk refers to the potential for political events, decisions or conditions to adversely impact an organisation and can arise from a variety of sources such as government actions, international conflicts, terrorism and regulatory changes.

This interactive session will explore organisations facing a number of serious risk issues and examine the role of the NXD in each to ensure the board comes to the right decisions in steering the organisation in the appropriate direction.

Guest speakers' bios

Angus Cockburn

Angus is the Non-Executive Chairman of the shipping, oil and gas services business, James Fisher and Sons plc, having started in the role in May 2021. He is also Senior Independent Director of plant rental FTSE 250 business, Ashtead Groupplc, and Senior Independent Director of the privately owned Edrington Group Limited, which is a global drinks business with brands such as Macallan, Highland Park, No.3 Gin and Brugal rum.

Additionally, Angus is an NXD of Securities Trust of Scotland plc. Prior to James Fisher, Angus was the Group CFO at Serco Plc, a position he held from 2014. His previous roles have included CFO and Interim CEO of Aggreko plc, Managing Director of Pringle of Scotland, and senior finance positions at PepsiCo Inc. He was also previously an NXD of Howdens Joinery Group plc and GKN plc.

Angus is a chartered accountant with an MBA from the IMD Business School in Switzerland. He has an Honorary Professorship from the University of Edinburgh and is a member of ICAS.

Bill McCall

Bill is an experienced Company Director, Investor and Advisor and has worked with and for a range of private equity organisations. He has chaired a number of businesses in the UK & mainland Europe, US and the Nordic Countries and has considerable knowledge of international energy markets. He has chaired public and private boards with complex dynamics and multiple shareholder objectives, keeping clean lines of fiduciary duty, conflict and dispute resolution. He is the Principal of McCall & Partners, a strategic corporate finance advisory business, and Editor of Coffee House Economics.

Bill was elected an individual member of the London Stock Exchange in 1990, is a Chartered Banker and Fellow of the Chartered Banker Institute, where he is past President. A Fellow of CISI and RSA, Bill is a Liveryman of the Worshipful Company of International Bankers (London) and Freeman of the City of London.

For more information on the Programme including the other sessions in the series, please visit the Non-executive Director Programme overview.