The Board of Governors, by Charter and By-laws, has legal and fiduciary responsibilities for the quality and integrity of the institution. It selects a Chief Executive Officer (President), approves and monitors the implementation of the mission of the institution, oversees the establishment of broad institutional policies, and exercises oversight to ensure compliance with policies. The Board delegates to the President the responsibility to implement and administer these policies as well as the responsibility to carry out the mission of the institution.