Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

It is aligned with the broad changes for the distinction between the board and the professional management. Procedures themselves are a question for day-to-day management and the CEO of the credit union and are not really a question for the board, which has more of a governance and strategic policy function. Our view was the area of procedures was too granular for the board in any case and that is properly dealt with by a professional CEO, their credit team, etc. and that the board’s work would be focused on more strategic issues, plans and policy, ESG and how that is working. This broad proposal was raised by CUAC at an earlier stage and it is on foot of its recommendation that we are doing this. It is aligned to other amendments where we are trying to separate out in some way the professional role of the CEO and the operational responsibility they have on a day-to-day basis and a more strategic function for the board in the future.