The Board’s Role Overseeing Risk
By Henry Stoever, AGB President and CEO
Effective boards have always been mindful of risks facing the enterprises they serve, and as I wrote in an article in early 2020 just before the onset of the COVID-19 pandemic, risk oversight is an essential aspect of strategic board leadership. Since then, however, it has become even more imperative that board members understand not only the most important risks facing their institution, but also the processes by which the board will assess its appetite and tolerance for risk and remain informed regarding the management of these risks.
In this update, I highlight three specific risks (governance, cyber, and business model risk) affecting institutions and describe how boards can fulfill their fiduciary duty to oversee management of these risks.
Although governance risk cannot be quantified on a balance sheet, a consequential governing board is intrinsic to the institution’s capacity to carry out its mission. To oversee and help mitigate your board’s governance risk, we suggest …
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Meet our president and CEO.
AGB President and CEO
Henry is focused on establishing college, university and foundation board members as indispensable, strategic partners with institutions to fulfill their unique commitments to society, advance student success and well-being, and enhance institutional vitality. He brings to AGB a deep understanding of the importance of citizen governance and a wealth of experience in building on the strengths of a member-focused organization.
Read Henry’s full bio
As AGB’s president and CEO, Henry is responsible for the leadership and operations of the AGB enterprise spanning AGB and AGB Search serving more than 1,300 boards, and representing more than 40,000 individual trustees, across more than 2,000 member institutions, systems, and foundations. Prior to joining AGB, Henry spent nearly 10 years at the National Association of Corporate Directors (NACD) – the largest association of corporate directors in the United States. Prior to NACD, Henry spent five years at Brazos Higher Education Service Corporation as SVP StudentLoans.com. He has also held several marketing leadership positions for CoStar Group, Inc., Sprint-Nextel Corporation, LexisNexis Group Inc., and Kraft Foods, Inc. Henry also served for five years in the United States Marine Corps, resigning at the rank of captain.
In addition to his service as a trustee for the United States Naval Academy Foundation’s Academic and Scholarship Programs board, Henry is a member of the board of directors for the Boulder Crest Retreat for Wounded Warriors, and previously held positions on the board of directors of the Chesapeake Bayhawks and Bethesda Lacrosse. He was also a visiting professor at American University’s Kogod School of Business from 2010 to 2014.
Henry holds a BS in economics from the United States Naval Academy and an MBA in marketing and strategy from the Kellogg Graduate School of Management at Northwestern University.