Sigal Zarmi
DIRECTOR: GoDaddy, ADT, Global Atlantic Financial Group
What was your first board?
My first board was a technology private equity portfolio company called Alfresco. My first public board was ADT, the home security company. Prior to that, I was on two nonprofit boards.
What do you look for in a board?
In addition to a collaborative and collegial board that respects and appreciates everyone's opinions, I am looking for a company and management team that values technology and innovation. Being a chief information officer at a few large, complex companies, I truly believe technology can be a differentiator for customers, drive product innovation and turbocharge revenue growth.
How does your professional experience affect your board service?
As a technology and operations C-Suite executive, I usually serve on the audit committee. The audit committee is responsible for overseeing the company's financial reporting, compliance functions and risk management. I am a Qualified Risk Director, certified in enterprise risk management, including cyber risk and operational risk. My experience leading large-scale, global organizations that have expanded organically and through M&As also helps in talent and workforce planning, outsourcing opportunities, acquisition integrations, global expansions and third-party risk management.
Do you have any key principles as to what makes for ideal board composition?
The key principles that make an ideal board composition are:
- A mix of experiences, skills and diversity of thoughts and backgrounds. That fosters rich conversations and different points of view that lead to effective decision-making and strategic oversight.
- Independent directors, which ensure objective oversight and reduces conflicts of interest as the board is governing the company.
- Clear board structures and roles, the proper size and regular evaluation of board effectiveness. A well-organized board has clear charters outlining responsibilities for each committee, an independent board chair or a lead director and a robust annual evaluation process to assess board effectiveness, identify gaps and refresh members when necessary.
What do you think a board's best approach is as it pertains to risk?
As a Qualified Risk Director, I believe in the positive governance of risk-taking. Risk should not only be discussed but embraced, strategically aligning risk governance with opportunity. The board should approve a clearly defined risk appetite statement of how much risk the company is willing to take to achieve its goals and monitor the alignment of business decisions with this risk tolerance. Especially at times of uncertainty and change, the board provides strategic oversight of risk and actively monitors key risk factors. They help the company think and plan for diverse risk scenarios and be better prepared to leverage new opportunities.
To be considered for “My Board Journey,” contact Bill Hayes at [email protected].