IoD Ireland Members' Update
November 2023
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Dear Anne,
I hope this finds you well.
Thank you to the over 400 IoD Ireland members who attended our flagship event, 'Leading in Governance: Supporting Ireland to be an Exemplar of Corporate Governance' last week. Our dedicated website page below summarises the main talking points which included the real economy, regulation, director due diligence, hybrid working, company culture and more.
The event also marked the launch of the IoD Ireland Continuing Professional Development (CPD) Framework for Directors. This Framework empowers directors to respond to the ever-evolving policy, regulatory, macro-economic and governance environment in which they operate. I would like to thank Minister Simon Coveney TD for launching this on our behalf. For more information, visit our Framework website page.
One key area that was discussed through the event, was that of emerging technologies, including AI. New IoD Ireland research found that over 75% of directors and executives were not aware of the extensive scope of the proposed landmark EU legislation on AI. We will be tailoring guidance, education and learning with the aim of supporting the integration of best-in-class AI governance into the overall governance architecture of companies. See our dedicated AI panel below with some information around this.
This ezine's issue includes the latest director education programmes, upcoming events, director factsheets, exclusive content and benefits available to members, all outlined below.
Caroline Spillane CDir
Chief Executive Officer
Institute of Directors (IoD) in Ireland
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Leading in Governance: Supporting Ireland
to be an Exemplar of Corporate Governance
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Our flagship event, 'Leading in Governance: Supporting Ireland to be an Exemplar of Corporate Governance' took place on 24th October 2023, at the Aviva Stadium with over 400 members in attendance.
The event, marking 30 years since IoD Ireland’s foundation, and took a forward-looking focus, addressing the crucial elements that all directors and business leaders need to be considering. It featured an expert line-up of thought leaders offering key governance and leadership insights and knowledge, to support directors and leaders on their professional development journey.
For more detail around the event, including pictures and videos, visit our website page.
Pictured L to R: Leo Cullen, Leinster Rugby Head Coach; Caroline Spillane CDir, Chief Executive Officer, IoD Ireland; and Simon Coveney TD, Minister for Enterprise, Trade and Employment; and John Reynolds CDir, President, IoD Ireland.
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IoD Ireland Continuing Professional
Development (CPD) Framework for Directors
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The new Framework has been designed to empower directors to respond to the ever-evolving policy, regulatory, macro-economic and governance environment in which they operate.
IoD Ireland is committed to supporting directors and boards in leveraging the CPD Framework through the delivery of best-in-class executive education. In addition to its flagship Chartered Director Programme, which is mapped to the IoD Ireland CPD Framework for Directors, IoD Ireland has designed a suite of short programmes and workshops which are mapped to the specific competencies within the CPD Framework. This suite of programmes are agile in terms of learning objectives, content and delivery, designed to evolve with the economic, regulatory and business environment within which directors and boards operate.
The IoD Ireland CPD Framework for Directors is designed around four dimensions of competency: Governance Framework; Technical Knowledge and Skills; Creative Strategy Formulation; and Psychology of the Boardroom.
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Artificial Intelligence: Technical Knowledge and Skills | |
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IoD Research Reveals 75% of Members are Not Aware of Scope of New Landmark Proposed EU Legislation on Artificial Intelligence
In a recent IoD Ireland survey, it was found that over 75% of directors/senior executives surveyed are not aware of the extensive scope of the proposed landmark EU legislation on AI which is the first comprehensive set of regulations for the industry, while more than half do not have a board-approved AI and cyber security strategy in place.
From this new research, we can see there is a clear desire from members to learn more about this technology and how it will affect Irish business in the future, but also the ethical consequences that must be considered when adopting this technology. IoD Ireland will be using this new research to tailor guidance, education and learning with the aim of supporting the integration of best-in-class AI governance into the overall governance architecture of companies.
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EU AI Act: First Regulation on Artificial Intelligence
Under the EU AI Act, the use of artificial intelligence in the European Union will be regulated. This AI Act will be the world's first comprehensive AI law outlining established obligations for providers and users depending on the level of risk posed from artificial intelligence.
The aim of regulating artificial intelligence is to ensure that AI systems used in the EU are safe, traceable, transparent, environmentally-friendly and non-discriminatory.
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Artificial Intelligence Essentials for Directors
Thursday, 9th November 2023 | 12:00 PM - 1:00 PM | Davenport Hotel, Dublin 2
To foster wider understanding about AI, we are delighted that our next Lunch Bites event will be with Diane Nolan, Strategic Advisor to C-Level at Technology and Financial Services Companies, on this key area. This event will provide an overview of what's happening in the AI sphere and will outline essentials directors should be aware of including upcoming regulatory implications, such as the Draft EU AI Act.
The Lunch Bites @ the IoD Series is kindly sponsored by IQ-EQ.
This event fits under the Technical Knowledge and Skills Dimension of the IoD Ireland Continuing Professional Development Framework for Directors. It is eligible for 1 hour of Chartered Director CPD. This session may also be eligible for other professional body CPD, please check with your relevant professional body.
This event is now fully booked and a waiting list is in operation.
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The EU AI Act: Understanding the Implications for Irish Businesses | Blog
Read this new blog by Aidan Connolly, Chief Executive Officer, Idiro Analytics, which discusses how AI is changing the business landscape in Ireland and what implications the EU's drafted AI Act may have on Irish businesses.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more blogs, please visit our website.
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IoD Ireland Christmas Lunch 2023
Friday, 8th December 2023 | 12:30 PM - 3:30 PM | InterContinental Hotel, Dublin 4
Booking is open for the popular IoD Ireland Christmas Lunch 2023. The Lunch will be held at the InterContinental Hotel, Dublin 4, on Friday, 8th December 2023.
Impressionist and broadcaster Conor Moore will provide the entertainment for the Lunch, which is set to be a key networking event for business leaders and directors.
For our Christmas appeal this year, we are delighted to announce that we will be supporting the Children's Health Foundation, who raise vital funds to support sick children and their families in Children's Health Ireland hospitals and urgent care centres in Crumlin, Temple Street, Tallaght, and Connolly. To donate to this worthy appeal, please visit this dedicated donation website page.
The IoD Ireland Christmas Lunch 2023 is kindly sponsored by Mason Hayes & Curran. To book and for more information, please see below.
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Grow Your Corporate Governance Expertise: Director Learning and Development | |
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Chartered Director Programme | Enrolling for January 2024
Places for the January 2024 Chartered Director Programme are now open. The Chartered Director Programme is a unique qualification for directors and strategic business leaders combining learning and professional experience. This sought-after programme has been running in Ireland since September 2008 and is delivered exclusively by IoD Ireland.
It is the gold standard of director training, and the IoD is the only body in Ireland that provides the full designation and recognition as a professional Chartered Director (CDir). By joining the programme, participants can build relationships with peer business and public service leaders in Ireland.
IoD Ireland is committed to supporting directors and boards in leveraging the IoD Ireland Continuing Professional Development (CPD) Framework for Directors through the delivery of best-in-class executive education, such as the Chartered Director Programme.
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Joining an Audit and Risk Committee | Workshop
Governance Framework Dimension:
IoD Ireland CPD Framework for Directors
Tuesday, 21st November 2023 | 9:00am - 4:30pm
Understand the critical role that audit and risk committees play in governing an organisation in our upcoming in-person workshop, 'Joining an Audit and Risk Committee'.
It will be led by Chartered Director, Martina Maher CDir. This workshop will take place in-person and covers key elements, including: risk management and internal control; internal and external auditing; financial reporting; compliance and more.
This workshop fits under the Governance Framework Dimension of the IoD Ireland Continuing Professional Development Framework for Directors. It is eligible for 6 hours of Chartered Director CPD. This session may also be eligible for other professional body CPD, please check with your relevant professional body.
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Leadership and Governance for Charities in Ireland | Workshop
Governance Framework Dimension:
IoD Ireland CPD Framework for Directors
Thursday, 23rd November 2023 | 9:00am - 4:30pm
Understand the key governance frameworks for Irish charities in our upcoming in-person workshop, 'Leadership and Governance for Charities in Ireland'.
The workshop will be led by Chartered Director, Marie Collins CDir. This workshop will take place in-person and covers key elements, including: the role and responsibilities as directors/trustees; key governance frameworks for charitable organisations; board effectiveness; boardroom culture and more.
This 'Leadership and Governance for Charities in Ireland' workshop fits under the Governance Framework Dimension of the IoD Ireland Continuing Professional Development Framework for Directors. It is eligible for 6 hours of Chartered Director CPD. This session may also be eligible for other professional body CPD, please check with your relevant professional body.
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IoD Ireland CPD Framework for Directors Workshops | November 2023
Grow and expand your corporate governance expertise by booking your place on one of our IoD Ireland CPD Framework for Directors workshops this Autumn.
This series of workshops and short programmes is delivered by corporate governance experts, such as: Dr Margaret Cullen, Caroline Kirrane CFA Charterholder, and chartered directors; Carol Bolger, Marie Collins, Simon Haslam, John Smyth and Martina Maher.
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Latest Qualified Chartered Directors Announced
We are delighted to publish the latest list of recently qualified Chartered Directors. As part of this qualification, newly qualified Chartered Directors may also use the designation CDir after their name.
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The Competition (Amendment) Act 2022: A New Administrative Enforcement Regime for Competition Law | Director Factsheet
Read this Director Factsheet, courtesy of McCann Fitzgerald LLP, which focuses on the introduction of a new administrative enforcement regime for breaches of Irish competition law.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more factsheets, please visit our website.
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The Responsibilities of Being a Director | Webcast
Watch our webcast with Ian Drennan, Chief Executive Officer, Corporate Enforcement Authority, who presented a session titled, 'The Responsibilities of Being a Director'.
In this session, Ian highlights the expectations and responsibilities that can assist with ensuring the best corporate governance practices, a director's duties in the day-to-day management of a company and much more.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more webcasts, please visit our website.
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HR Strategy and the Board | Webcast
Watch our webcast with Caroline Reidy, Managing Director, The HR Suite who presented a session titled, 'HR Strategy and the Board'.
In this session, Caroline discusses hybrid working as part of an attraction and retention strategy. She also covers equality, diversity and inclusion, compliance, and how to manage your top talent and succession planning.
Please note: To view this members’ only content, you must be logged into the members' area of our website. For more webcasts, please visit our website.
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Meet a Member
Jacinta Lambert, FCCA
Jacinta Lambert has been the Senior Director of Finance for Medtronic plc since 2015. She qualified as a chartered accountant in 1998, with operational finance and corporate finance experience in several industries including manufacturing, retail, media and marketing, software development, reinsurance, healthcare technology.
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Welcome to Our Newest Members
A warm welcome to some of our newest members:
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| Brian Bailey, CEO, Harmony Medical Ltd | Alma Moran, Engineering Co-ordinator/Director, Shannon Foynes Port Co | | Matthew Browne, Director, Ayrton Group | Aoife O'Mahony, Partner, Morgan McKinley Executive Search | | Garrett Cassidy, Managing Director, Abarta Consulting Limited | Mairéad Ní Cheóinín B.Sc, Non-executive Director, Irish Heritage Trust, Formerly NED on Bord TG4 | | Adrian Doyle, Managing Director, Investments, Renaissance Reinsurance | Connor O'Sullivan, Chief Financial Officer, BFree Foods | | Janet Ivers, Senior Community Officer, Fingal County Council | Sinead Phelan, Finance Director, Aerie Pharmaceuticals Ireland Ltd (An Alcon company) | | Cormac Leonard MSc, Channel Director, Sanofi Consumer Health | Shane Relihan, Chief Operating Officer, Norbrook Laboratories Ltd | | Martin Mc Grath, Group Managing Director, O'Connor Sutton Cronin Multidisciplinary Consulting Engineers |
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Featured Member Benefit
Discounted Rates at Fitzpatrick Hotels in New York
IoD Ireland members can avail of a 10% discount on the best available rate for bookings at the following New York hotels: The Fitzpatrick Manhattan and The Fitzpatrick Grand Central Hotel.
Please note: To view this member offer, you must be logged into the members' area of our website.
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Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Bill 2023
The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Bill 2023 will further enhance the protection of employees in a collective redundancy in a way that does not unduly impede enterprises in the conduct of their business.
UCD and Eversheds Sutherland Conference: The New Individual Accountability Framework in Financial Services Ireland
UCD are hosting an Individual Accountability Framework conference, sponsored by Eversheds Sutherland on Friday, 10th November 2023. IoD Ireland Governance Advisor, Dr Margaret Cullen will be speaking at this event. Registration is now open. If you wish to book a place, visit the UCD website.
European Commission Adopts 2024 Work Programme
On Tuesday, 17th October 2023 the European Commission adopted its 2024 work programme, in line with their strategy to boost the EU's long-term competitiveness and to provide relief for SMEs. Examples of the simplification proposals include postponing the deadlines for sector-specific standards set out in the Corporate Sustainability Reporting Directive.
The European Financial Reporting Advisory Group (EFRAG) Launches Q&A Platform
EFRAG, the independent technical advisory group responsible for the development of the European Sustainability Reporting Standards has launched a Q&A platform in which interested parties can seek technical advice and guidance on the implementation of the reporting standards.
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The IoD Ireland Board Evaluation Service allows your organisation to learn how effectively your board is executing its roles and responsibilities. The service is efficient, robust, and completely confidential. | |
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IoD Ireland's Boardroom Centre is the leading independent source of non-executive directors and chairpersons in Ireland, and supports IoD members on their non-executive journey.
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IoD Ireland's Bespoke Board Training in corporate governance delivers, in a confidential setting, effective solutions for the development needs of your board.
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General Queries
Should you have any queries relating to anything in this newsletter please get in touch with the IOD Communications Team.
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