Granted by the Institute of Corporate Directors, the ICD.D designation is a clear demonstration of a director's commitment to practice and build on the skills and knowledge acquired through the Directors Education Program (DEP) at U of T. The DEP program is delivered in four three-day modules in cities across Canada. Modules are taught by leading faculty of prominent business schools, some of Canada’s most experienced directors, and leading governance experts.
MODULE 1 – Guiding Strategic Direction and Risks
Module I provides a comprehensive overview of the fundamental board tasks and processes including director legal duties and responsibilities, overseeing strategic decisions, as well as managing group dynamics and decision-making in the boardroom.
MODULE II – Monitoring Financial Strategy, Risks and Disclosure
Module II focuses on the board’s responsibility to oversee and monitor financial performance, health, and disclosure. Participants take part in group exercises that illustrate how to effectively organize and run audit committees, as well as improve their personal effectiveness in the board meeting context.
MODULE III – Guiding Human Performance
Module III focuses on the board’s role in enhancing human performance, including the appointing, evaluation, compensation and renewal of the executive team. This module also examines how to structure boards with the appropriate set of director skills and experiences.
MODULE IV – Assessing Enterprise Risk and Directing Extreme and Unique Events
In Module IV, participants integrate their learning across the four modules by employing an enterprise risk management framework that helps directors identify and prioritize the wide range of issues influencing their organizations. Some of the specific risks and issues include mergers and acquisitions, technology investments, operations crises, finance irregularities, human capital failures and governance breakdowns.
The ICD.D certification examinations evaluate the ICD Key Competencies deemed necessary to be an effective director. The knowledge-based competencies are assessed through a multiple-choice written examination. The skills and behavioural competencies are assessed through an oral exam, where a group of up to four candidates are given a case by a panel of Canada’s most experienced directors, in a simulated boardroom environment. Following the board simulation, each candidate receives a one-on-one interview with one of the examiners.
ICD.D certified candidates have met the following criteria:
- Be a member in good standing with the Institute of Corporate Directors, having signed the ICD’s Member Code of Conduct;
- Meet the admitting criteria for the ICD / Rotman Directors Education Program (DEP) at U of T;
- Graduate from the ICD / Rotman DEP at U of T;
- Successfully pass the ICD.D written examination;
- Serve as a director for two of the past five years, on a board that meets at least four times per year, has a minimum of three directors, and is focused on governance;
- Successfully pass the ICD.D oral peer examination given by two ICD-appointed examiners; and
- Sign the ICD.D Certification Agreement, which requires certified directors to commit to a minimum of 14 hours ongoing governance education annually.
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