The Board consists of up to 13 Institute Members of which 7 are volunteers who must be a†Qualified Member, Certified, Member, Fellow or Honorary Fellow of the Institute. There are also up to 3 co-opted positions made up of volunteers who may or may not be a member of the BIFM. The make up of the board is as follows:
||up to 3|
||Up to 2|
Purpose of the Board
All members of the Board are registered directors of the Institute. The Board meets at least six times a year, drives the strategy of the Institute and is ultimately responsible for running the Institute. The maximum length of time a Board member other than an employee can serve is three years, after which they can be re-elected for a further three years [6 consecutive years] after they have a two year gap befre re-election. The Chairman's maximum term is two years, although after that they can be re-elected to an elected position.
The Board delegates the day to day running of the Institute to an Executive which is made up of the employed senior management team. The Membersí Council, and the Membership Advisory Group gives advice and guidance to the Board on the long term direction of the Institute and itís mission. Other standing committees are Audit & Risk, Constitution & Ethics, Nominations & Remumeration and Awarding Body.