Part of this process should involve a rigorous assessment of the skill mix of the board as a whole, so there is both sufficient technical knowledge of finance, sectoral issues, risk management and regulation, as well as broader skill sets.
But also important is ensuring that the mix of backgrounds and personalities provides a safeguard against group think by self-perpetuation of the same “type” of board member. Is your current board composition providing the right degree of management challenge and a willingness to ask the awkward questions? Do you have the right gender diversity? Do you have the right international experience?