Thank you to those who joined me and Marg at the recent Virtual CFA Society Strategic Update events. If you were unable to attend, you can view the recorded sessions here.
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I hope that we were able to answer many of your questions about the CFA Institute strategy and important role of the CFA Society® community. Look for FAQs addressing questions we have collected from across the network about the strategy and what it means for local societies, which will be sent in an upcoming weekly email.
As shared last week, the organization is undergoing a number of changes to support our direction. We will keep you informed about our progress over the coming months.
FY21 Operational Funding Update
We are preparing to issue Operational Funding starting in mid-October. Your Society Relations Manager will be communicating FY21 operational funding amounts and the status of operational funding requirements within the next two weeks. Once the requirements of your local society have been validated and the Master Grant Agreement signed (see below), we will be able to issue operational funding. Please refer to the Standards and Funding overview for details about this year’s business planning and operating standards requirements.
If your local society is still in FY20, please work with your Society Relations Manager to address the timing of your operational funding grant.
Society Master Grant Agreement (MGA)
New this year is a standardized grant agreement that covers common terms governing the various types of grants that CFA Institute provides to the CFA Society network, including Operational Funding. Terms that are specific to individual grant types (such as future project funding) would be covered in shorter addenda to the MGA. The MGA and draft addenda can be found on Society Center.
The MGA will need to be signed ahead of payment of Operational Funding. The good news is that it will only need to be signed once, not repeated annually, unless terms change in the future. Agreements already in place for strategic funding or multi-year project funding will remain in place. The new process will apply to future grants. Addenda would be developed for any new types of grants created in the future.
Latham & Watkins, the global law firm that has supported certain local society legal work, reviewed the agreement and shared their input from the society perspective. Their comments and our responses can be viewed on Society Center. Thank you to XL society Executive Directors who also provided valuable feedback.
Your society’s designated authorizer/signer will receive an email in the coming weeks requesting their completion of the MGA and the Operational Funding Addendum.
ADVOCACY
Celebrating Global Ethics Day in October
CFA Institute is a proud supporter of Global Ethics Day, a project started by the Carnegie Council for Ethics in International Affairs. We encourage you and your local society to get involved by participating in ethics-related programming throughout the month of October. To help inspire you, follow the link and read some Global Ethics Day ideas and activities.
SOCIETY MANAGEMENT
Board nominations
The CFA Institute Nominating Committee is accepting recommendations for applicants to serve a three-year term on the Board of Governors beginning 1 September 2021. For the upcoming term, the Nominating Committee is looking for candidates:
- with technology expertise, specifically in the education space; or
- that reflect gender, race, ethnic, and geographical diversity; and
- have leadership experience within CFA Institute local societies.
Nominate yourself by completing the Governor Recommendation Form by 23 October 2020.
More information is available on our website.
Get to know Randi
Randi Tolber, CFA, is Head of Global Society Relations at CFA Institute. Her team manages relationships with 158 CFA Societies located in more than 90 countries around the world.
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