The Department for the Economy has appointed Michael McKavanagh as Non-Executive Board Member (NEBM) to the Departmental Board.
He will also attend the Department’s Audit and Risk Assurance Committee.
The appointment is for a period of three years effective from 4 January 2022.
Notes to editors:
1. Michael McKavanagh is a Chartered Accountant who has held a wide range of leadership roles within the Financial Services sector. His leadership experience includes the formulation and execution of strategy, the development and implementation of organisational restructuring, and the delivery of substantial regulatory programmes. He has led significant recovery work during periods of challenging economic conditions. He also has operational experience of financial management, performance management, financial planning and budgeting, risk management and corporate governance.
2. Every government department in NI has a departmental board which supports the Accounting Officer in the discharge of his or her obligations as set out in Managing Public Money NI. The board also supports senior officials in directing the business of the department in as effective and efficient way as possible to ensure delivery of statutory responsibilities and ministerial priorities.
3. The primary role of a non-executive board member is to contribute to good governance of the organisation. They offer constructive challenge across the organisation’s business with a view to ensuring that all aspects of strategy and delivery of policy are scrutinised for effectiveness and efficiency.
4. Non-Executive Board Members are paid an attendance fee of £500 per day. The time commitment is approximately 18 days annually.
5. All appointments are made on merit. Political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity to be made public. Michael has declared no political activity.
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