Accredited courses from leading Australian universities, TAFEs and colleges

StudySelect branding logo with stylized graduation cap

Select Industry

Courses by Study Type

Providers

Career Advice

​
career-vectorStep-by-step guide to starting a career as a Board Member

How to Become a Board Member in Australia: careers in Business Management

Icon representing Board Member career
Sorry, we don't have any courses leading to a career as a Board Member for you at the moment. Please try searching again.

Definition of a Board Member

The role of a Board Member is a prestigious and impactful position within an organisation, offering individuals the opportunity to influence strategic decisions and drive the direction of a company. Board Members are typically responsible for overseeing the management of the organisation, ensuring that it operates in the best interests of its stakeholders. This role requires a blend of leadership, strategic thinking, and a deep understanding of the industry in which the organisation operates. Board Members play a crucial role in shaping policies, setting objectives, and ensuring compliance with legal and ethical standards.

In their capacity, Board Members engage in a variety of responsibilities that include reviewing and approving budgets, monitoring organisational performance, and providing guidance to senior management. They are often involved in high-level discussions regarding the organisation’s long-term strategy, risk management, and resource allocation. Additionally, Board Members are tasked with evaluating the performance of the CEO and other senior executives, ensuring that the leadership team is aligned with the organisation’s goals and values.

Common tasks for Board Members include attending regular board meetings, participating in committee work, and engaging with stakeholders to gather insights and feedback. They must stay informed about industry trends, regulatory changes, and emerging challenges that could impact the organisation. This proactive approach not only enhances their effectiveness but also contributes to the overall success of the organisation. The collaborative nature of the role fosters a sense of community among Board Members, as they work together to navigate complex issues and drive positive change.

Ultimately, a career as a Board Member is not only rewarding but also offers the chance to make a significant difference within an organisation and the broader community. It is a role that demands integrity, commitment, and a passion for leadership, making it an ideal path for those looking to elevate their professional journey while contributing to meaningful outcomes.

On this Page

What Will I Do

What Skills Do I Need

Career Snapshot

Resources

What does a Board Member do?

A Board Member plays a crucial role in guiding the strategic direction and governance of an organisation. They are responsible for ensuring that the organisation operates within legal and ethical boundaries while also fulfilling its mission and objectives. Board Members bring diverse perspectives and expertise to the table, contributing to informed decision-making and effective oversight. Their day-to-day tasks involve collaboration with fellow board members and executive management to foster a culture of accountability and transparency.

  • Setting Strategic Direction – Collaborating with other board members to define the organisation’s mission, vision, and long-term goals.
  • Governance Oversight – Ensuring that the organisation adheres to legal and regulatory requirements, as well as ethical standards.
  • Financial Stewardship – Reviewing and approving budgets, financial statements, and funding proposals to ensure financial health.
  • Performance Monitoring – Evaluating the performance of the organisation and its leadership against established objectives and benchmarks.
  • Stakeholder Engagement – Representing the organisation at public events, meetings, and in negotiations with stakeholders.
  • Policy Development – Contributing to the formulation and review of policies that guide the organisation’s operations.
  • Risk Management – Identifying and assessing potential risks to the organisation and ensuring appropriate mitigation strategies are in place.
  • Board Development – Participating in the recruitment and evaluation of board members to ensure a diverse and effective board composition.
  • Committee Participation – Serving on various committees (e.g., audit, governance, compensation) to address specific organisational needs.
  • Continuous Learning – Staying informed about industry trends, best practices, and changes in legislation that may impact the organisation.

What skills do I need to be a Board Member?

A career as a Board Member requires a diverse set of skills that are essential for effective governance and strategic oversight. Key competencies include strong leadership abilities, as Board Members must guide the organisation’s vision and ensure alignment with its mission. Financial acumen is also crucial, as they are responsible for approving budgets and monitoring financial performance. Additionally, excellent communication skills are necessary to facilitate discussions among board members and stakeholders, ensuring that all voices are heard and considered in decision-making processes.

Moreover, a deep understanding of the industry in which the organisation operates is vital for providing relevant insights and guidance. Board Members should also possess critical thinking and analytical skills to evaluate complex issues and develop strategic solutions. Finally, a commitment to ethical governance and compliance with legal standards is paramount, as Board Members play a key role in upholding the integrity and accountability of the organisation. Together, these skills enable Board Members to contribute effectively to the success and sustainability of their organisations.

Skills/attributes

  • Strategic Thinking
  • Financial Acumen
  • Leadership Skills
  • Effective Communication
  • Risk Management
  • Governance Knowledge
  • Networking Ability
  • Analytical Skills
  • Commitment to Diversity and Inclusion
  • Problem-Solving Skills
  • Understanding of Regulatory Frameworks
  • Experience in Stakeholder Engagement
  • Ability to Work Collaboratively
  • Visionary Leadership
  • Ethical Judgement

Does this sound like you?

Career Snapshot for a Board Member

The role of Chief Executives and Managing Directors is pivotal in shaping the strategic direction of organisations across various sectors. These leaders are responsible for determining objectives, strategies, and policies, while also managing resources and ensuring compliance with relevant legislation.

  • Average Age: 51 years
  • Gender Distribution: 30% female
  • Average Hours Worked: 50 hours per week (84% work full-time)
  • Employment Numbers: Approximately 58,300 individuals are employed in this role
  • Projected Growth: An annual increase of 4,600 positions is expected
  • Unemployment Rate: Specific unemployment rates for this role are not detailed, but the overall demand suggests a stable employment outlook

Chief Executives and Managing Directors typically work in industries such as Professional, Scientific and Technical Services, Manufacturing, and Health Care and Social Assistance. Their leadership is crucial for organisational success, making this a highly respected and sought-after position in the workforce.

Source: Australian Bureau of Statistics (ABS), Labour Force Survey, 2023.

Business Management Career resources

NATIONAL

QLD

VIC

WA

SA

NT

ACT

TAS

StudySelect makes every effort to ensure the information we provide is correct at the time of publication. We welcome your input to help keep our career profiles as accurate and up to date as possible. All queries and feedback will be taken into consideration as we conduct periodic reviews of our content. Add your voice to the conversation!