America's Community Bankers has updated its guide to organizing board committees.
"Effective Bank Board Committees," published at the end of July, looks at best practices and key components for 16 types of bank board committees. It focuses on the Big Four - the audit, loan, compensation, and corporate governance committees.
The book, an expanded version of a 1998 publication, is one of several the trade group has published in the last two years to help guide bank boards.
The editor of the new version is Debra Cope, the group's senior vice president of publishing. Pressure on boards has been mounting since Congress passed the Sarbanes-Oxley Act three years ago, she said; the book is designed to help them define their roles.
"Banks are pretty much hungry for more information and guidance, and this is very much in response to that," said Ms. Cope, a former senior editor at American Banker.
She said that the trade group decided to create a special book on board committees because they are crucial to bank oversight. Also, she said, board members tend to be more engaged if they are on key committees.
"Committees are one of the best ways to get work out of board members," she said.
The 186-page book looks at each committee's responsibilities and discusses setting compensation for directors and executive pay and benefits. It includes outlines of different committee structures and samples of committee charters and board evaluation forms.
Ms. Cope said the book has been so well received that another press run will probably be needed to meet the demand for copies.
"Effective Bank Board Committees" is sold in sets of five for $250 per set.
