Training your employees
You need your employees to be able to recognise risk when it comes from other people using social media. And you need them to understand when their own behaviour with social media puts themselves, their colleagues and their company at risk.
You need your employees to understand your social media policy, and to accept the constraints it puts on their behaviour at work, and even at home. Without appropriate staff training you won't have the ability to manage your social media risks.
Coaching the Board
As a Director you need to understand how social media works and the effects that social media can have on your organisation. You need to be able to question the managers who are responsible for social media, or who may be impacted by social media.
Whether or not you use social media yourself, you need a deep knowledge of the potential risks, as well as the rewards, of social media and an understanding of what your organisation can do to lessen those risks.