The Board’s primary functions include:

• Developing the Association’s long-term vision and conducting the long-term planning and strategic thinking needed to realize the vision
• Determining policy matters, periodically reviewing operations and being informed of the fulfillment of objectives, goals and performance
• Working with management in the regular review, identification and prioritization of risks; in establishing risk tolerance levels; and in monitoring actual performance. This includes oversight and active participation in the Enterprise Risk Management function.
• Understanding the Association’s primary and other lines of business, including:
  • The key business opportunities that may exist and the strategies to pursue them
  • The significant related risk areas presented and the tools to manage them
• Putting effective management in place to conduct operations through strong hiring, compensation, evaluation, and succession planning programs
• Delegating authority to management and holding management accountable for results
• Overseeing the Association’s financial reporting and disclosure, compliance with laws and regulations and audit programs
• Addressing the Association’s need to grow