How OnBoard Tools Can Boost Your Finance Committee's Performance

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Finance teams play a central role in ensuring an organization’s stability, growth, and strategic alignment. For boards, the need for clear, effective, and accountable financial governance has never been greater. That’s why many institutions are turning to board committees — particularly those focused on finance — to drive oversight, manage risk, and accelerate decision-making.

But here’s the challenge: Committees often encounter significant operational roadblocks. From inconsistent processes to scattered resources, these inefficiencies can dilute their impact. Fortunately, OnBoard offers purpose-built solutions to empower finance-focused committees—ensuring they not only meet but exceed governance expectations.

Why Committees Are Indispensable to Financial Governance

Committees such as ALCO (Asset-Liability Committee), Risk, Loan, and IT Steering are more than organizational structures. They bring deep expertise, dedicated focus, and strategic rigor to critical areas of financial oversight. Key benefits of these committees include:

Specialized Insight: Leverage deep expertise to guide high-stakes decisions like capital strategy, liquidity management, and loan policy.
Time Efficiency: Delegate complex financial matters to specialized groups, freeing full board meetings for strategic discussions.
Focused Risk Oversight: Financial committees deliver sharper focus on risk, compliance, and technology — a must in today’s rapidly evolving regulatory environment.
Scalable Governance: Standing and ad-hoc committees adapt as governance maturity evolves, from basic oversight to sophisticated financial stewardship.

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Common Committee Pain Points — and How OnBoard Solves Them

Despite their importance, finance committees frequently struggle with inefficiencies that undermine their effectiveness. OnBoard addresses 4 of the most pressing challenges:

1. Inefficient, Manual Processes

Manual note-taking, time-consuming minutes creation, and fragmented approval workflows slow down even the most capable committees.

The Solutions:

Minutes AI: AI-generated meeting transcripts and draft minutes delivered in minutes — uniformly formatted and ready for review.
Embedded Docusign Integration: Secure, in-platform eSignatures without app-switching or login friction.
Mobile-Ready Voting & Approvals: Fast-track decision-making with secure, anytime voting on key issues.

2. Low Committee Engagement

Keeping finance directors informed, involved, and responsive across multiple meetings is no small task.

The Solutions:

Collaborative Agenda Building: Members contribute directly to draft agendas with comments and suggestions.
Board Assessments: Gather feedback and track engagement trends across individuals and committees.
Diversity & Skills Reporting: Ensure a balanced mix of financial and strategic expertise across key committees.

3. Inconsistency Across Committees

Disparate tools and workflows across committees introduce complexity and hinder cross-functional alignment.

The Solutions:

Standardized Meeting Templates: Easily duplicate recurring meetings — same agenda structure, same permissions, streamlined scheduling.
Centralized Settings & Reporting: Get uniform insights across finance, risk, and audit committees for a clearer big-picture view.

4. Too Many Tools, Not Enough Cohesion

Scattered documents and disjointed platforms erode efficiency and increase the risk of oversight gaps.

The Solutions:

Unified Document Repository: Secure, permission-based file storage for each committee. No more lost files or endless email chains.
All-in-One Hub: Integrate agenda building, task tracking, communications, and surveys in a single, user-friendly platform.

Committee Support That Scales with Financial Governance Maturity

As boards evolve, so do their governance needs. OnBoard supports finance committees across all 4 tiers of financial maturity:

1. Comprehensive Governance: Support for advanced committees like ALCO, Risk, and IT Steering with robust permissions, reporting, and oversight tools.
2. Robust Oversight
Empower Board and Loan Committees with secure document sharing, approval workflows, and audit trails.
3 & 4. Foundational to Basic Governance
Build engagement and consistency as governance structures develop, with templates and onboarding resources to scale over time.

Empower Your Finance Committee to Deliver More

With OnBoard, finance committees gain the clarity, consistency, and control they need to guide organizations through complexity. When equipped with the right tools, these committees become catalysts for strategic growth, regulatory compliance, and stakeholder confidence.

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About The Author

Adam Wire: Adam Wire is a Content Marketing Manager at OnBoard who joined the company in 2021. A Ball State University graduate, Adam worked in various content marketing roles at Angi, USA Football, and Adult & Child Health following a 12-year career in newspapers. His favorite part of the job is problem-solving and helping teammates achieve their goals. He lives in Indianapolis with his wife and two dogs. He’s an avid sports fan and foodie who also enjoys lawn and yard work and running.