Sebastian AvercombeChief Strategy Officer

The boardroom

A director should be able to question the connection between evidence and commitment.

The board contribution I could make would begin with the relationship between an observation and the institutional commitment proposed around it. Management may have strong evidence that a market is relevant, a relationship exists or a programme is desirable. The next question is whether that evidence supports the particular undertaking the institution is being asked to accept. My strategic experience would help me examine the connection, while the collective board and the relevant professionals retain their responsibilities for the decision.

The regional expansion account illustrates that distinction. Four potentially relevant regions did not establish equal readiness to support four new business-service teams. In an executive role I recommended a sequence that began with two. As a director I would ask management to explain the service and recruitment evidence, the commercial cost of waiting and the basis on which the other two could be reconsidered. I would not attempt to run the regional mobilisation from the boardroom or infer that one fictional sequence supplies a rule for another bank.

The acquisition account raises a different question about the meaning of reach. Of 180 proposed relationships, 112 matched existing bank customers. A board should be able to distinguish an argument for deeper existing relationships from an argument for wholly additional ones. The sixty-eight unmatched names would still need an honest account of uncertainty. I could help scrutinise the strategic interpretation, but I would not let that role replace valuation, legal or risk expertise. The C$740, 000 assessment expense belongs in the history without becoming a reason to accept a conclusion the evidence no longer supports.

I would also bring an example in which the weak inference was my own. In 2008 I allowed 240 expressions of interest to support a stronger growth assumption than they justified. Follow-up separated willingness to enter an assessment from interest without available effort and general curiosity. The correction cost C$520, 000. That experience should make me more receptive when another director challenges the reasoning I find persuasive. An executive record is useful to oversight when it supplies questions and humility as well as familiarity.

The strategy portfolio offers a further connection between direction and consequence. Nine individually approved initiatives called repeatedly on six accountable leaders. A board might reasonably ask whether management has examined the combined demands, not merely approved each proposal on its own merits. The response would need to respect required specialist work and the executive authority over implementation. I would look for an intelligible account of what was deferred, who accepted the consequence and what replanning cost. A director's interest in capacity should not become an informal attempt to allocate individual employees.

A change of direction also leaves inherited responsibilities. In the segment review, ending pursuit of new business did not decide the treatment of 4500 existing accounts. The planned C$3.2 million support expense made part of the continuing undertaking visible. I would want the board to understand how the responsible customer, contract, conduct and risk owners had examined that work. The word exit cannot itself provide authority to alter an arrangement. Equally, continuing obligations should not prevent scrutiny of whether the intended change in future activity has occurred.

My preparation for a first statutory role would have to go beyond these executive analogies. I would need to understand the institution's governance arrangements, financial reporting, director responsibilities and the evidence reaching its committees. I have presented to the board since October 2018 but have not served as a statutory director. My earlier strategy-director title does not change that position. Participation in a suitably defined strategy committee might fit the experience; committee-chair competence would require an assessment not established by this profile.

Time and connections would require equally specific examination. The initial twenty-day annual availability is conditional on the actual calendar, employer agreement and exceptional demands. I would disclose relevant employment, customer, advisory and personal interests for the appointing institution's assessment rather than declare independence from a distance. Indian databank registration is not completed in this fictional record, and an Indian opportunity would need a current review of applicable preparation. All examples here are invented. They describe the scrutiny I might contribute, without treating a persuasive narrative as evidence of a real appointment or qualification.

On governance

I look for the consequence of a choice in the work the organisation stops adding. A plan can describe attractive opportunities without resolving which ones the bank can responsibly undertake. I want the excluded alternative, the continuing obligation and the cost of reconsidering an assumption to remain in the decision record. Otherwise agreement on a strategy can conceal disagreement about what happens next.

Formation

Education & credentials

  • Bachelor of arts in economicsVeyford School of Economics1990

An invitation

Contact

I would consider a strategy conversation or a first non-executive opportunity where experience of institutional choice complements the existing team. The fit would depend on the actual mandate, preparation, employer agreement and competing commitments. This demonstration has no real banking service or enquiry channel. An actual profile should identify an authorised way to approach its owner and publish only information that the leader has permission to share.

Open to
  • Board appointments
  • Speaking invitations

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