Enter the Boardroom with Nurole
98. Jenny Knott - Compensation, breaking into new sectors and adding value as a board member
Dec 4, 2024
Jenny Knott, a Non-Executive Director at the British Business Bank and founder of FinTech Strategic Advisors Ltd, shares her journey into various boardrooms. She discusses the transition from internal to independent boards, emphasizing the need for effective communication and trust. The conversation delves into the nuances of board incentivization, advocating for simpler compensation structures. Jenny also addresses regulatory challenges in fintech and the unique dynamics of startup boards, along with essential insights into enhancing board member value beyond expertise.
44:44
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Quick takeaways
- Effective board management relies on building trust and efficiency among members, with most value emerging from discussions outside formal meetings.
- Startups must balance innovation with regulatory compliance by leveraging diverse advisory expertise to guide strategic decision-making and growth.
Deep dives
Importance of Risk Management in Finance
Managing risks effectively in financial forecasting and budgeting is crucial for companies, especially in the context of foreign exchange exposure. Even small fluctuations can severely impact an organization's investment budget and credibility. Highlighting the complexities of financial forecasting, it is emphasized that understanding risks requires transparency and robust systems to navigate potential pitfalls. Companies must prioritize risk assessment to safeguard their financial integrity against unforeseen market movements.
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