Pensions & Continuing Professional Development (CPD)

The issues around pensions continue to be high on the agenda for all working in treasury, corporate finance and risk management. We have developed a series of initiatives to run during 2006 to support members and non members as they respond to the challenges. The new Certificate in Pensions Risk Management (Cert PRM) provides a certificated qualification in pensions and our Spring Paper, together with two symposia, a Pensions Conference and a plenary session at The Treasurers’ Conference combine to offer up-to-date, practical understanding and guidance. Editorial initiatives include a survey and a supplement with The Treasurer to offer further support.

Cert PRM is intended to equip finance professionals to understand, analyse and manage the risks associated with corporate pension funds. It is the only qualification available that looks at these issues from the perspective of the corporate treasurer – offering fundamental understanding of the legislative and regulatory framework surrounding pensions, including the role of trustees, risk management implications and the associated governance issues.

We will be promoting Cert PRM externally to drive registrations and to underline the role of the ACT in developing this qualification in a particularly timely way. We are working with a number of partners to increase the awareness of the qualification across a range of industries and professions.

On 30 March we have David Norgrove, The Pensions Regulator, as our speaker for the Spring Paper. He will explain the role and objectives of his organisation, the approach he is bringing to the clearance process, his attitude to the levels of scheme funding, targets and recovery plans and the risk management arrangements within pension funds. The Paper will provide an exceptional insight into Pension Regulation, and a chance to debate the issues with the key figure involved together with other pensions experts.

For The Treasurers’ Conference in May pensions will also be a key theme. Adair Turner is one of our plenary session speakers and he will focus on his report for the Pensions Commission in the context of demography, globalisation and capital supply and demand. I would urge anyone who is interested in attending The Treasurers’ Conference to send in their delegate booking form; we have had a huge response to the conference and delegate space is now half full – so to guarantee your place we do advise early booking.

In education the five day tuition sessions for the Certificate in International Cash Management (Cert ICM) have been taking place in the UK, Denmark and Singapore and we have had some excellent speakers providing practical and real life corporate experience. We are gearing up for the enrolment deadline for the next sitting for Cert ICM, which runs from April to October; we will be holding tuition days for this in Hong Kong and North America as well as the UK.

The ACT recognises the vital importance of Continuing Professional Development (CPD) and is about to undertake a review of its policy. We will work on a proposal for how we should develop this service to our members. We value the input of members to this important project and invite volunteers to join a CPD Focus Group to help us address the issues. If you are interested in becoming involved, please let me know or contact Maggi McDonnell

It was excellent to see a number of members at our Deals of the Year Awards lunch earlier in January; with about 100 people present this was the largest celebration we have held so far for the Awards. Congratulations should go to the overall winner, Land Securities, as well as our sincere thanks to Lloyds TSB for their support of the lunch.

I must remind ACT members that they have an opportunity to nominate candidates for the forthcoming Council election. There are two vacancies to join Council with effect from the beginning of May. Nomination forms have been sent out to members and should be returned by 15 February 2006.

And finally I must just congratulate Philippa Foster Back on being awarded an OBE in the 2006 New Year’s Honours, in recognition of her services to the defence industry. Philippa’s contribution to the ACT is substantial; she was President in 1999 and 2000 and has over the years played a key role in the development of the ACT’s professional qualifications.