Treasurers, finance directors and bankers face greater financial market – and economic – uncertainty in the run-up to Christmas and the New Year than many will have experienced in their recent professional pasts. Whilst this may be casting an unwelcome shadow over earlier plans for a gentle run-down and an extended break over the holiday period, our members on the corporate side at least will no doubt be relishing the opportunities in difficult market conditions to apply professional skills – skills that are founded in the material for our qualifications.
Those skills are precisely what we are aiming to celebrate in the Treasury Team of the Year award that we have introduced into Deals of the Year for the first time. Through this award we are looking to highlight a corporate treasury team that attracts the most respect across a range of attributes, such as innovation, professionalism, complexity, relationship-building and operational efficiency. I think there is a real challenge here and I encourage you to have a go. I am sure you will be pleased to know that we have included governance transparency into the contest: you cannot vote for your own team and if voting for a client we expect you to declare the relationship! You can vote here or by returning the freepost addressed voting form that will be in the December edition of The Treasurer.
Our MCT Advanced Diploma qualification is attracting an international intake of senior professionals from both corporate and financial sector backgrounds. We allow direct entry into the qualification - on the basis of prior qualifications, achievements and the ability to demonstrate relevant experience at a senior level. The combination of e-enabled distance learning and full support through resources and tutoring makes MCT Advanced Diploma a valuable qualification. Please consider it for yourself or colleagues. The next enrolment deadline is 31 January. Find out more information here.
We hold an annual offsite ‘planning day’ at which the ACT’s strategy is reviewed and developed. At the last meeting – in October – a major concern focused on how we can better understand what members and potential members feel and care about regarding the ACT. Our traditional reliance on surveys is no longer the best way to gauge this and my occasional plea through this newsletter for feedback does not lead to an overflowing email inbox. Our plan now is to work with a small number of focus groups. If you feel able to help us with this by volunteering to spend a couple of hours in a group meeting, particularly if you are from an organisation falling outside the FTSE 100, I would be grateful to hear from you. You can email me.
There is a new briefing note on our website looking at the impact of the Companies Act 2006 on loan agreements. Our Policy and Technical team are also covering this in the December Treasurer magazine. Do look at this material in respect of both the wording of board minutes for new loan commitments and issues around the directors’ risk of liability for breach of duty as a result of the new derivative claims’ regime.
I should close by wishing you all the very best Seasonal Greetings and a successful and enjoyable 2008.
