MutualFundWire.com: Fund Directors Group Launches Candidate Database

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Monday, October 7, 2013

Fund Directors Group Launches Candidate Database

Finding competent mutual fund directors is no joke nowadays, what with the fallout from the SEC charges against and subsequent settlement involving eight former directors of five Morgan Keegan funds.

Indeed, during a recent regulatory panel discussion at the NICSA GMM conference in Boston, assistant director of the asset management unit of the SEC's enforcement division Kevin Kelcourse told the audience that whenever he polls his colleagues on suggested enforcement actions, the first question they all ask is "Where was the board?"

But how do you find qualified directors who can help keep you out of trouble?

Well, the Mutual Fund Directors Forum has launched a new online database of potential independent director candidates. The Director Candidate Database will feature a collection of résumés and background information from prospective candidates that will be accessible by Forum member boards seeking to recruit new directors, allowing boards to connect with compelling candidates as they seek out new independent members.

“We’re very excited to offer this new service, solidifying the Forum’s role in helping to match fund boards with high-quality candidates,” stated Susan Ferris Wyderko, president & chief executive of The Mutual Fund Directors Forum. “As more boards have approached us for help in identifying talented, dedicated prospective board members, we felt the time was right to formalize the process and make it available online.”

Users of the Director Candidate Database will be provided online access to a set of up-to-date candidate profiles that meet criteria identified by the interested board, including subject matter expertise, experience, and location.

Boards that are interested in searching the database or candidates that wish to submit their résumés can contact the Forum at candidate@mfdf.org.

Here is the press release:

THE MUTUAL FUND DIRECTORS FORUM LAUNCHES ONLINE DATABASE OF INDEPENDENT DIRECTOR CANDIDATES
New "Director Candidate Database” will help match candidates with fund boards

Washington, DC (October 4, 2013) – The Mutual Fund Directors Forum, the independent membership organization for fund independent directors, has launched a new online database of potential independent director candidates, it was announced today.

The Director Candidate Database will feature a collection of résumés and background information from prospective candidates that will be accessible by Forum member boards seeking to recruit new directors, allowing boards to connect with compelling candidates as they seek out new independent members.

“We’re very excited to offer this new service, solidifying the Forum’s role in helping to match fund boards with high-quality candidates,” said Susan Ferris Wyderko, President & CEO of The Mutual Fund Directors Forum. “As more boards have approached us for help in identifying talented, dedicated prospective board members, we felt the time was right to formalize the process and make it available online.”

Users of the Director Candidate Database will be provided online access to a set of up-to-date candidate profiles that meet criteria identified by the interested board, including subject matter expertise, experience, and location. Boards that are interested in searching the database or candidates that wish to submit their résumés can contact the Forum at candidate@mfdf.org.

About the Mutual Fund Directors Forum

Formally organized in 2002, the Mutual Fund Directors Forum is an independent, nonprofit organization that serves the independent directors of U.S. mutual funds by providing educational and outreach programs as well as the opportunity for directors to exchange views with one another, other industry participants, and with industry regulators. For more information, please visit www.mfdf.org.