Red Lake Inc. Board of Directors Job Description

Red Lake Inc. Board of Directors Job Description

Open: December 12, 2023

Close: December 26, 2023 @12:00 p.m.

Minimum Requirements

• High School Diploma

• Business/Managerial Experience

• Willingness and Capable of working in a team

• Willing to attend training (financial statements, etc.)

• Ability to abide by code of ethics standards and conflict of interest policies

• No felony convictions

Preferences

• Enrolled Red Lake Member preferred (Non band members can be on the board but cannot hold an officer position)

• 4 year or advanced degree in Business and/or Experience in Business or related fields

Job Duties

• Availability for scheduled board meetings, work sessions and committee meetings.

• Fiduciary Duties including but not limited to:

• Duty of Loyalty: This duty requires fiduciaries to act in the best interests of their beneficiaries or clients, putting their interests before their own. It means avoiding conflicts of interest and refraining from personal gain that could come at the expense of those they serve.

• Duty of Care: Fiduciaries must exercise a high level of care, skill, and diligence in carrying out their responsibilities. This duty involves making informed and prudent decisions, conducting thorough research, and seeking expert advice when necessary.

• Duty of Disclosure: Fiduciaries are obligated to provide accurate and complete information to their beneficiaries or clients. This includes disclosing any material facts that could influence their decisions.

• Duty of Confidentiality: Fiduciaries must maintain confidentiality regarding sensitive information provided by their beneficiaries or clients, only sharing such information when required by law or with explicit consent.

• Duty to Avoid Conflicts of Interest: Fiduciaries must identify and manage potential conflicts of interest that could compromise their ability to act impartially. If a conflict arises, fiduciaries should disclose it to the affected parties and seek appropriate solutions.

• Duty to Act Prudently: Fiduciaries are expected to manage assets, resources, or responsibilities with a reasonable level of prudence, considering the potential risks and benefits of their decisions.

• Duty to Preserve and Protect Assets: Fiduciaries must take steps to safeguard and preserve the assets and interests entrusted to them

• Review, engage and amend company strategic planning and goals; to ensure such planning matches company's mission and vision.

• Ability to make decisions and vote

TO APPLY: Applications (w/resumes attached) are being accepted at the Red Lake Human Resources Department, P.O. Box 546, Red Lake, MN 56671 Phone (218) 679-1847 *Fax (218) 679-4176.