The Constitution requires that the Board comprises a majority of independent Directors, in line with accepted governance best practices. Distinctive Options’ Board has a majority of independent members and it generally meets each month on the fourth Tuesday. Since the pandemic outbreak, Board and Committee Meetings use the on-line Zoom platform for meetings.
As part of its governance role, the Board utilises a number of Committees to review and recommend on specific matters as per each Committee’s adopted terms of reference. Committees currently comprise:
Audit & Finance Committee
Governance & Risk Committee
Business Development Committee
These Committees meet on a rolling pattern as required.
In addition, the Board monitors the organisation’s performance against strategic goals using a Balanced Scorecard. The Scorecard is scrutinised and reviewed on a quarterly basis by the Board.