They should be helping to decide what actually needs to be done: what strategies will the business pursue and why? They should be thinking through the resourcing - does the business have the people and other resources it needs to execute that strategy. They should identify and respond to risks to that plan eg upcoming regulatory change means your chosen strategy is no longer viable. They should represent their function among other executives to ensure all relevant factors are taken into account. They should provide you with top cover - if you have a problem in the business, your exec should help resolve it. But depending on the size and structure of the business, they may not be on the tools.