The number of qualified candidates applying for a position as a board of director of a bank is often greater than the number of open seats at a time. Use the following steps to increase your chances of being selected for the board:
1. Demonstrate Expertise
Regardless of your career stage, you can get a position on a bank board if you demonstrate that you qualify for the role. An excellent way to show the board the value you will bring is displaying your expertise, such as:
- Industry expertise: Financial industries in which you have worked and excelled in
- Functional expertise: Specific expertise being sought by the board for that position
- Personal skills: Soft and hard skills that make you suitable for the role
2. Build a Network
Leverage new and existing relationships with people who can increase your chances of landing the position on the board. Recruiters, past colleagues, and attorneys may know of open positions within bank or credit union boards.
On top of that, cultivate relationships with some of the current board directors of the bank. The current board members might help put in a good word for you during recruitment, increasing your chances of getting the position.
3. Ask Good Questions
Ask current bank directors about the observations, experiences, and challenges of being a board director at that bank. Doing this shows your interest in the position and organization.
4. Focus on Solving Problems
Most boardroom discussions revolve around how to improve performance and overcome challenges that a bank faces. As a potential board director, you must demonstrate that you have critical problem-solving skills.