Board & Management

The IMI is governed by a 36-member Council (the policy-making body) elected by its members.

The Council has the power to co-opt up to 15 additional members and it elects eight of its own members to the Board to implement policy and oversee the day-to-day management of the Institute. The Council's Chairperson and Deputy Chairperson are ex-officio members of the Board. The Board may co-opt two additional members. The Board also appoints the Chief Executive (who is an ex-officio member of the Board) and the Company Secretary.

The board of IMI is responsible for the following:

• Deciding and implementing overall IMI strategy
• Planning the Institute's policy and practice on risk management
• Measuring and managing performance of Institute personnel

The board is also charged with evaluating the management of the Institute, communicating with Institute members and approving major transactions to which the Institute would be a party. In addition, the board assesses and monitors principles for best management practice and has the power to make, alter, and repeal bye-laws.

Corporate Governance

Corporate governance is the responsibility of the IMI Council, Board and Chief Executive. A number of business functions, which are charged with the operational aspects of the Institute’s activities, report to the Chief Executive. The IMI operates parallel structures dealing with its corporate and academic functions. The structures are integrated through the office of the Chief Executive, who has overall accountability for the commercial performance of the IMI and is also chairman of the Academic Council.