As Vice Chair Trust Solutions Co-Leader at PwC , Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues
As Vice Chair Trust Solutions Co-Leader at PwC , Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues
One of the constants throughout the many roles Kathryn Kaminsky has held during her 30-year career at PwC has been serving clients .
“ I work across boardrooms and with executives to help them achieve their strategic goals , as well as solve their biggest problems ,” Kathryn tells Business Chief .
“ I love the ability to connect with clients while also continually learning something new . No day is ever the same because the opportunities are always changing , especially now !” This can also prove challenging as Kathryn and her team must stay ahead of the trends and help clients plan ahead in order to thrive .
“ Doing this while working to instill the confidence and knowledge across others on the team to lead client engagements can be a lot , but also is what makes it fun .”
As Vice Chair – US Trust Solutions Co-Leader for the last 18 months , Kathryn oversees one one of PwC ’ s core businesses , the Trust Solutions segment , which brings together the firm ’ s audit , other assurance services , ESG , digital assets and tax reporting & compliance capabilities . She is also responsible for overseeing the quality of service and excellence in the work performed by more than 21,000 partners and staff .
“ PwC is in the people business and a big part of my responsibilities is to help our people come together in new ways – in diverse and inclusive teams – to better serve our clients . By supporting our people , we ’ re better supporting our clients !”
We talk to Kathryn about the importance boards play in helping businesses take action on social issues and how to do that effectively .
Q . What factors are putting pressure on boards to make social change and purpose ?
» Boards are navigating more stakeholders than before , and the demands are increasing ! This presents an added challenge for boards to find a way to balance the pressures from stakeholders , especially when these demands are conflicting .
In this multi-stakeholder environment , boards play an important role in helping businesses take action on social issues including ESG and DEI initiatives . The multistakeholder pressure has definitely grown given the continual challenges boards have been facing , from the pandemic to the war in Ukraine . It ’ s challenge after challenge . During the pandemic , business became one of the most trusted institutions . With that increased trust , stakeholders began to look for companies to get involved in social issues in new ways .
Q . Given this , why then are just 39 % of boards discussing the company ’ s stance on social issues ?
» Consumers , employees and suppliers are oftentimes expecting corporations to take a stand on social issues . Boards and their directors are working in the right direction to respond to these stakeholder expectations .
As a 2022 PwC survey found , 39 % of directors say their board has discussed the company ’ s stance on social issues in the
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