Accreditation

SID Director Accreditation Framework

On 28 July 2023, at SID’s 25th Anniversary Commemorative Event, Deputy Prime Minister and Minister for Finance Mr Lawrence Wong announced that the Singapore Institute of Directors will be launching the SID Director Accreditation framework.

Eligible SID members can choose to go through an accreditation process. Successful candidates will be able to add to their credentials “Accredited Director” or “Senior Accredited Director” if they have more than five years of directorship experience.

The SID’s Director Accreditation framework establishes standards for director competencies in the following ways:

• To provide directors with structured development pathways to acquire essential knowledge, proficiency, and attributes.
• To enable directors to stay relevant over time through continuous professional development.
• To communicate director competencies to boards looking to appoint directors.

SID Director Competency Model

The foundation of the Accreditation framework is the SID Director Competency model, which reflects eight competencies that directors need to exhibit in the boardroom. These are:

(a) Governance.
(b) Director duties and practices.
(c) Financial proficiency.
(d) Risk management.
(e) Strategy development.
(f) Digital proficiency.
(g) Human capital.
(h) Sustainability fundamentals.

Directorship Journey

The framework is designed to support directors of all organisations, whether listed entities, statutory boards, private companies, family firms, high-growth ventures or nonprofit organisations.

A director might start by going through a series of core modules covering each of the eight competencies. The director could subsequently earn badges by taking up supplementary modules to gain knowledge and proficiency specific to board roles, functional expertise and organisation type. 

For example, a director serving on nonprofit board might complement the core modules with badges in volunteer management or fundraising. Another director of a listed entity would need to acquire the badges that come with the completion of programmes mandated by Singapore Exchange Regulation for first-time directors.

The Accreditation framework also enables directors to chart their personal continuing education roadmap to ensure they stay current and relevant.

There are many paths to board directorship. This Accreditation framework is designed to enable leaders from diverse backgrounds to effectively serve as directors of the organisations they helm.

Acknowledgements

SID would like to thank the many Council and Committee members for their invaluable contribution over the years in the development of the Accreditation framework. They have collectively conducted research into certification programmes offered by professional bodies, studied competency models and frameworks of numerous institutes of directors around the world, and consulted with regulators, policymakers, academia, registrars, experts and practitioners. Their insights, expert advice and guidance were instrumental in the development process.

SID would also like to acknowledge representatives of third-party bodies including ACRA, Singapore Exchange Group and Charities Unit for reviewing and supporting the Accreditation framework. Their views are critical in ensuring that the Accreditation framework meets SID's objectives of developing a framework that is relevant to directors of all organisation types.