GENERAL MEETING 17 JUNE 2019 CPD STRATEGY CPD - READY FOR THE - - PowerPoint PPT Presentation

GENERAL MEETING

17 JUNE 2019

CPD STRATEGY

TANGIBLE BENEFITS FOR OUR MEMBERS & STAKEHOLDERS CPD - READY FOR THE NEXT PHASE

CFAVBA Board Members CFA Institute CPD Providers Employers Regulators CFAVBA CPD program Career enhancement with high quality and easy accessable CPD Has a clear framework that guides actions throughout the year Embeds a Dutch CPD program that fits & enriches the global CFAI CPD strategy Have a clear overview and assurance on where and how regulatory requirements are met Receive guidance from CFAVBA on the requirements to develop and offer content Harvest added value and regulatory compliance of CPD for their employees

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The highly competitive and ever-changing investment management industry values trustworthiness and up- to-date expertise. This asks commitment of investment professionals to continuously develop their knowledge, skills and abilities.

A LIFE LONG LEARNING CPD PHILOSOPHY

We support our members' commitment to continuing professional development and lifelong learning by

• ffering a Continuing Professional Development

(CPD) program included in your membership fee. Q U A L I T Y O P E N N E S S F L E X I B L E

Combine all your educational activities, internal & external Tailor made education that you need is included in membership with the possibility for specialized top-ups High quality and relevant education, online & offline

N E T W O R K

Expand your network & meet with peers

Our CPD philosophy delivers the following member values

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The basis of the Continuing Professional Development (CPD) program is the Professional and Competence Framework of CFA Society VBA Netherlands.

STRONG FOUNDATION & EASY ACCESS CPD PHILOSOPHY

I D E N T I F Y T R A C K R E P O R T

CPD road to earn CE credits for qualified learning activities When following the Continuining Professional Development (CPD) program you can indicate your MIFID II compliancy.

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ALL THE CPD YOU NEED INCLUDED IN MEMBERSHIP POSSIBILITY FOR SPECIALIZED TOP-UPS CPD FRAMEWORK

CFA I online content CFAVBA events VBA academy CFAVBA Events CFA Institute events Included in membership Paid Local International

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VBA PROGRAM

HIGHLY RECOGNIZED AS VALUE ADDING & READY FOR REPOSITIONING CURRENT VBA PROGRAM

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• The former VBA society has always recognized the importance of high quality professiocal education

and because of this the society initiated the VBA program in 1978 with grants the RBA designation upon completion.

• Throughout the years the VBA program was constantly upgraded and redeveloped; currently the

program is offered by the VU university in Amsterdam and since 2010 it is accredited as a Master of Science program.

• The merged society CFA Society VBA Netherlands has the ambition to redesign the VBA Program into

VBA Academy to complement the educational offering in the Netherlands with a focus on local topics and skills. It will continue to lead to the RBA designation upon completion of certain modules.

• The RBA designation is held to be recognized by CFA Institute as one of the main standard

designations in the fields of portfolio management and investment analysis in the European Union. CFA Institute believes that the RBA designation is a clear mark of professional expertise.

AIMS AND OBJECTIVES OF THE VBA ACADEMY VBA ACADEMY

• Target group has at least 5 years of relevant work experience in the investment industry, basic

knowledge gained through education or relevant work experience. Education level students at start is minimum Bachelor.

• The VBA Academy offers modules in English.
• Modular structure of the training, available in three ways:
• Individual modules
• Individual tracks, consisting of several modules including examinations
• All modules, consisting of several modules including exams
• Passing all exams will be entitled with RBA designation. Individual modules or tracks will be entitled

with VBA certificates.

STRUCTURE AND SET-UP OF MODULES VBA ACADEMY

• Knowledge and competences: training is in line with the professional and competence framework of CFA Society

VBA Netherlands.

• VBA Academy offers initially (around) 8-12 modules, taking participants through the entire investment process; from

market set-up, client set-up to asset allocation, investment strategies and innovation and leadership

• In each module latest professional developments as well as best practices in European (where relevant Dutch)

market are taught. Skills required for the specific phase of the investment process are integrated in the class room teaching and learning materials.

KEY COMPETENCES TO BE INTEGRATED IN VBA ACADEMY VBA ACADEMY

• Analysis and valuation
• Assessment and judgement
• Reporting and advising
• Communication
• These are all technical skills related to the investment process. Underlying are the more personal skills such as

collaborating, emotional inteligence, creativity and curiosity.

ANNUAL PLAN 2019/2020

January

• Strategy

meeting board February

• Draft

strategic plan

• Draft

annual plan April

• Discuss

draft strategic plan and annual plan with committees April

• Draft

budget May

• Board

determines strategic and annual plan June

• Budget

submitted for member approval

PLANNING CYCLE FISCAL YEAR 2019-2020

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• 1. Member value
• 2. Credentialing
• 3. Standards and Advocacy
• 4. Governance
• 5. Integration

STRATEGIC PILLARS

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• 1. Opening up CFA Institute content for members (incl. access to CPD materials)
• 2. Repositioning VBA Journaal
• 3. Improving member communication (a.o. newsletter and website)
• 4. Improve communication and member support on CPD registration
• 5. Promote added value membership
• 1. MEMBER VALUE – DELIVERABLES 2019/2020

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• 1. Development and implementation local professional and competence framework
• 2. Development CPD program that complies with MiFID II knowledge and competence

requirements

• 3. Launch of VBA Academy / program, as part of CPD offering
• 2. CREDENTIALING – DELIVERABLES 2019/2020

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• 1. Recognition of CPD program in MiFID II context
• 2. Communication to members, employers, potential members
• 3. STANDARDS AND ADVOCACY – DELIVERABLES 2019/2020

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• 1. All relevant regulations, procedures, management reports in place or updated
• 2. Audit on premerger financial accounts
• 3. Balanced budget for coming periods
• 4. Clear roles, responsibilities and authority within board, within staffed office and between

board and office

• 4. GOVERNANCE – OBJECTIVES 2019/2020

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• 1. Further integration and empowerment of committees
• 2. Clearer guidelines and support committees when organising events
• 3. Generating ideas for and deploying VBA reserves
• 4. Staffed office: contracts, databases etc
• 5. INTEGRATION – OBJECTIVES 2019/2020

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BUDGET 2019/2020 (REVISED)

HIGHLIGHTS AND KEY NUMBERS Gerben Jorritsma

BUDGETS 2019/2020

• Stichting Register Risk Manager Financial Institutions (RMFI):

▪ No revenues, no expenses and no equity on the balance sheet!

• Stichting VBA Opleidingsinsituut Morreau (Morreau Instituut):

▪ The revised 2019/2020 budget results in a deficit of EUR 130.760 ▪ This is a significant increase compared to the initial deficit of EUR 46.370, mainly due to:

• lower revenues from PE activities (-40K)
• higher costs related to the delay in 2018-2019 spending on the redesign of the VBA program (+50K)

▪ The end of 2018/2019 equity position is targeted at EUR 263.786 (under the assumption of meeting both the 2018/2019 and 2019/2020 budgets)

BUDGET 2019/2020 CFA SOCIETY VBA NETHERLANDS

▪ Balanced budgets for the period 2019-2023 have been formally approved by the AGM ▪ We are seeking approval for the revised 2019-2020 budget

• 754
• 639
• 624
• 638
• 626
• 751
• 640
• 628
• 635
• 633
• 3
• 1
• 4
• 3
• 7
• 2018/2019

2019/2020 2020/2021 2021/22 2022/23 Revenues 754

• 639
• 624
• 638
• 626
• Expenses

751

• 640
• 628
• 635
• 633
• Balance

3

• 1
• 4
• 3
• 7

THE REVISED 2019/2020 BUDGET CFA VBA

▪ The revised 2019/2020 budget comes with total revenues of EUR 796K (versus the initial 639K) and total expenses of EUR 794K (versus the initial 640K) ▪ This results in a revised budget surplus of EUR 2.200 (versus an initial deficit of 1.445)

420 70 102 10 120 10 57 5 Staffed Office Consultancy fees Marketing Board Events Committees Publications Website

Uitgaven / Expenses, budget = 794

x 1.000 euros Initiele Begroting / Initial Budget Definitieve budget / Final budget

157 360 33 95 130 1 20 Society dues

• CFA

Institute Funding

• Allocation

staffed

• ffice

Events

• Strategic

sponsors Publications Advertisements

Inkomsten / Revenues, budget = 796

x 1.000 euros Initiele Begroting / Initial Budget Definitieve budget / Final budget

THE REVISED 2019/2020 BUDGET CFA VBA – HIGHER EXPENSES

▪ The 154K increase in expenses is the result of higher (anticipated) costs related to: ▪ marketing (branding campaigns) ▪ consultancy fees (CPD platform) ▪ staffed office (staff and rent)

14 62 77

Staffed Office Consultancy fees Marketing Board Events Committees Publications Website

Uitgaven / Expenses, delta = +154

x 1.000 euros

THE REVISED 2019/2020 BUDGET CFA VBA – HIGHER REVENUES

• 19

180

• 4

Society dues

• CFA

Institute Funding

• Allocation

staffed

• ffice

Events

• Strategic

sponsors Publications Advertisements

Inkomsten / Revenues, delta = +157

x 1.000 euros

▪ Lower revenues from events (-4K) and society dues (-19K) will be more than compensated by an (anticipated) significant increase in funding from CFA Institute (+180K) ▪ This anticipated increase of 180K mainly consists of additional project funding (+145K for marketing and CPD strategy) and strategic funding (+25K)

▪ We are seeking approval for the revised 2019-2020 budget: ▪ The revised budget shows higher expenses (+154K) in the areas of marketing (branding campaigns), consultancy fees (CPD platform) and staffed office (staff and rent). ▪ Higher spending comes with higher revenues as well (+157K) as part of related additional project funding by CFA Institute. ▪ Due to the nature of projects and conditional funding one might expect more revised budgets for the years to come. ▪ Balanced budgets have been drafted for the post-merger 5 years period (up to 2022-2023) and this will continue to be the case (as any spending on additional projects is conditional on related funding by CFA Institute).

CONCLUSIONS

THANK YOU!