Like clockwork, business planning season is here. In line with the Society Operating Model and as an extension of our Business Planning & Operating Standards (BPOS) process, we are also reinvigorating our awareness and governance around the policies societies have in place.
Below, we share more about this year’s BPOS process, and several resources we have to help societies with governance, including a new easy-to-use platform to serve as a repository for current society policies.
WHAT TO EXPECT WITH THE FY23 BPOS PROCESS
In May, we will launch the FY23 Business Plan template on Society Center and communicate more about the process and timeline, which will be similar to last year’s. Last year’s template enabled societies to align their activities and planning with the CFA Institute strategy, which gave the Society Relations team a powerful tool in showcasing the scale of impact societies are having to the CFA Institute Board.
This year, we’ve kept much of the template the same but have streamlined the set of asks we make of each society and made the template easier to navigate overall. Having learned from last year’s process, we would like to remind you as you work through the template that the best way to navigate is to choose the areas of focus based on the opportunities to add value in your market and where your board expertise and passions lie. We appreciate you investing your time in business planning every year and know it is not always easy! We do hope the templates are useful tools for your planning and budgeting processes locally.
Getting ready for the BPOS process reminds us each year how critical society business plans are for CFA Institute, especially for our Society Relations team. Taken together, they provide us with information about goals, trends, and activities across societies that we are increasingly able to leverage for the benefit of society community and that help us tell the story of the impact of the network on our mission and members. As part of the BPOS process, in May we’ll share both the FY23 Business Plan template as well as the template for your society’s FY22 Year-End Report. As a reminder, the Year-End Report is due within four months of your society’s fiscal year-end, and the FY23 Business Plan templates will be due by Friday, 29 July.
BETTER GOVERNANCE STARTS WITH BETTER POLICIES
As a good governance practice, every three years CFA Institute gathers information about the policies societies have in place. Some are standard that we expect every society to have, such as current bylaws and Board Manuals. Others may be less familiar, like an Anti-Bribery and Corruption Policy. Gathering this information helps us ensure all societies are creating a safe environment for staff, volunteers, and members, minimize the risk of legal action, and put our values into practice.
We last collected society policy information in FY19, so this year, as part of the BPOS process, we’ll provide a platform that societies can use to easily upload their current policies. More on that below.
CREATING A REPOSITORY FOR YOUR SOCIETY’S POLICIES
To manage our own compliance obligations, CFA Institute is using a new platform called Riskonnect. Going forward, societies will also have access to this easy-to-use platform. The Riskonnect platform can also serve as a one-stop repository and source of truth for current society policies. This should make it easier for leaders and staff who search for such information and in the onboarding of new board members.
Previously designated points-of-contact (Policy Administrators) will receive a link to a survey where they can answer questions and upload relevant policies. We’ll share more information with these individuals the week of 18 April, including more detail about the policies we are requesting as well as templates for any policies your society does not currently have today. We will request certain policies from societies in CY2022 and others in CY2023. Your Society Relationship Manager can support you as you update policies and upload them onto the Riskonnect platform.
FURTHER EQUIPPING YOUR GOVERNANCE EFFORTS
Over the past few years, we’ve invested in a resource called BoardSource, which supports societies in your governance and board activities. The platform has several useful services, including an email service where you can share any challenge directly with an expert and get support, educational webinars and live trainings, papers on a range of governance topics, downloadable templates and tools, and more. The most popular resources societies access are example bylaws and policies, and information about non-profit governance. More information about BoardSource can be found within Society Center (Society Management tile > Governance Page) alongside other governance-related resources.
You’ll see additional efforts to support better governance later this calendar year. Based on our understanding of current needs within the society network, we are putting together training modules for new society leaders, which focus on data privacy and risk management. We are also developing an HR Playbook, which shares best practices for hiring, onboarding, performance management, and other key HR responsibilities so it is easier for societies to mitigate reputational and legal risks. We’ll share more as we finalize these resources.
THANK YOU FOR DOING YOUR PART
Ensuring good governance and planning for the year ahead takes work. Thank you for your commitment to building solid governance practices and business planning into how your society operates. As a network, we are better for it.
MEMBERSHIP
Proxy and Renewal
Two critical member activities—our renewal cycle and member proxy vote—will again overlap from May through mid-July. Read our story for more information about how CFA Institute is promoting member engagement with and supporting societies through these vital activities and how you can access resources (including a toolkit, assets, and timeline) to support your society’s renewal efforts.
CREDENTIALING AND CANDIDATE SUPPORT
Results Release and Deferral Policy
February Level I results were released on 12 April. Please visit the CFA Exam Results and Pass Rates page on our website for more information. Looking ahead, we will share February Level II results next week, on 19 April. (Note that Level III exams were not offered in February.)
As we prepare for the May testing window, we ask that you familiarize yourself with the updated deferral policy on our website.
PROGRAMS AND EVENTS
Investment Management Workshop
CFA Institute is pleased to announce that after a two-year hiatus, our 52nd Annual Investment Management Workshop, in partnership with Harvard Business School, will be hosted in person in Boston, Massachusetts. The program has been expanded from prior years, running from 19 to 24 June, offering more opportunities for participants to interact with peers and engage in greater case-study coverage.
We are actively accepting applications and encourage you to share the event with your members who may be suited to attend.
Alpha Summit GLOBAL
Interested in purchasing Alpha Summit GLOBAL premium registrations for your staff or volunteers? CFA Institute is pleased to offer discounted rate for bulk purchases. The bulk offer requires a minimum of 10 premium registrations purchased at a discounted rate of USD 99 each (Traditional Member Rate is USD 159). This offer is for societies to purchase and use, not to sell. If you are interested or have additional questions, please contact your Society Relations Manager or Regional Marketing Manager.
Find the conference agenda on the event website and learn more about the distinguished speaker lineup. See how you can earn up to three complimentary registrations using our promotional resources!
New Podcast from CFA Institute
Our celebrated Take 15 podcast returns this spring with a brand new name, a brand new host, but the same engaging conversations with who’s who from the investment management industry. Mike Wallberg, CFA, our new host, brings a wealth of experience about CFA Institute and in the investment industry. Be sure to listen wherever you get your podcasts and explore our suite of podcasts for more.
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