New Certificate Papers and the European Associations of Corporate Treasurers (EACT)

I am delighted to report that the first round of examinations under the new AMCT syllabus and structure have been very successful and that pass rates on most papers were better than we had expected. In addition to the ‘standard’ AMCT papers we also examined the Certificate in Financial Mathematics and Modelling for the first time, with candidates achieving an impressive 89% pass rate. I would like to send my personal congratulations to all who sat and passed their ACT professional examinations. I am certain the qualifications will hold you in good stead in your career.

With new Certificate Papers at the forefront of my mind, I am pleased to say that we have closed the first sitting for the Certificate in Pensions Risk Management paper. Interest in this paper has come from a varied audience – from trustees to group treasurers. As I write this update we are preparing for the Pensions Conference which will have taken place on 28 June, and this along with a range of other materials, conferences and seminars will hopefully have helped members and non-members alike understand the intricacies of the pensions environment. I would also like to add my thanks to all who completed the ACT/Mercer Human Resource Consulting Managing Pension Financial Risk survey – the results are now available. I would strongly recommend anyone who has responsibility for their company pension – even if it is in a supervisory capacity – to look at the Certificate Paper to ensure you are as informed as possible.

The ACT continues to play an active part in the European Associations of Corporate Treasurers (the EACT). Inevitably issues around SEPA and the new payments environment that the EU is committed to creating for the single market are predominant in our EACT meetings. One new initiative that has developed from this is the CAST project, which is intended to be an EACT catalyst to facilitate straight through processing in the financial supply chain by promoting standardisation. This is an ambitious project and I have argued within the EACT that it is important first to confirm support for it from members of the ACT and the other European treasury associations. We have done so by contacting treasurers in the largest FTSE companies – and although many would say that improved automation is important in the long run, it would be fair to say that we have not found the level of enthusiasm for an active involvement that the EACT had hoped for. For an outline of the CAST objectives click here. If anyone feels strongly that the ACT should be active in supporting this project – or would just like to know more about the underlying thinking – please contact Martin O’Donovan

Finally, I would like to make a brief comment regarding the ACT’s Advisory Board. The Board is chaired by a past President of the ACT, Paul Spencer, and its members come from senior roles in banking and regulation as well as the service and corporate sectors. Board meetings usually focus on strategic issues that have an influence on the context in which the ACT and its members work. Paul and I are keen to ensure that the Board continues to be relevant to the needs of the ACT and accordingly would welcome any comments from members and others involved with us. If you have views on how you believe the Board can add value for us or on the membership of the Board (we do have the potential to add people) – or would simply like to understand more about the purpose of the Board – do get in touch.

By richard.j.raeburn@gmail.com