The role of a bank's board of directors in the profitable, safe and sound operation of a bank is crucial. The board, while it depends upon management to run a commercial bank’s day-to-day operations, is ultimately responsible for a bank's success (and also for answers to the regulators). What is essential for the role of the board is to provide oversight of management, assist in generating business, enhance the profitability of the bank's business to please customers, satisfy board duties to stockholders, and last, but by no means least, to make sure the bank is operated in compliance with banking regulations. Continue reading >