ACMA to FCMA: The achievement of fellowship · ACMA to FCMA: The achievement of fellowship Stuart...
Transcript of ACMA to FCMA: The achievement of fellowship · ACMA to FCMA: The achievement of fellowship Stuart...
ACMA to FCMA: The achievement of fellowship
Stuart Wayment FCMA CGMAMembership Assessor
To set the scene...the philosophy
• Fellowship is not “a given” thing - it is awarded only when
someone has appropriate experience
• CIMA does not automatically upgrade from Associate
Membership
• CIMA has always believed that Fellowship should reflect
tangible achievement ….. and be subject to an assessment
process
What I will cover
• Eligibility – What is CIMA looking for?
• Qualities – Have I got any?
• Fellowship Benefits – What’s in it for me?
• Opportunities – The competitive element
• The application and assessment processes
• Discussion, questions and answers
Eligibility
• Applicants must have acquired, and be able to provide
evidence of, at least three years of senior relevant leadership
experience (in addition to the three years submitted for
ACMA) in one or more of the three CIMA experience
categories – Strategic; Operational/Functional; Technical
• Smaller companies may allow you to demonstrate a broader
range of experience and abilities
• Larger companies and organisations may allow you to
demonstrate depth of knowledge and specialist experience
Gaining Experience
In smaller organisations,
roles tend to be more
wide ranging with
greater influence.
In larger organisations,
roles tend to be more
focused upon specific
outcomes.
e
Typical FCMA Qualities
• Broadly drawn senior and strategic experience demonstrating
the ability to have influenced business or organisation
direction
• Strong personal and interpersonal skills demonstrating
leadership abilities
• Confidence and maturity
Eligibility
Categories of Senior Experience
• Strategic Leadership
• Operational/Functional Leadership
• Technical Leadership
Quality
Strategic Leadership
Experience of contributing input to original strategic
decisions which the organisation adopts and which affect
and influences its future direction and success. (Note: It
does not include the implementation or updating of processes
deriving from such decisions.)
Examples
Relevant types of strategic leadership include:
• Formulation or control of strategic management and financial
plans
• Formulation or review of management and financial policies
and procedures
• Planning the provision of management information services
and/or systems to monitor strategic decisions
• Analysing, interpreting and presenting reports on the
performance of your organisation …….. to Board level
Quality
Operational/Functional Leadership
Experience of successfully leading and developing significant
operational and functional areas within an organisation and
being accountable for achieving business objectives at Board
level, or to directors and senior managers who themselves are
at Board level.
Examples
Relevant areas of operational/functional leadership include:
• Finance; IT; Marketing; Business Development; HR
• It’s likely that holders of such senior posts will be responsible
for leading and developing large teams of staff
• Experience of directing and motivating staff
Quality
Technical Leadership
Experience of successful technical thought leadership within an
organisation and being accountable for providing advice on
technical issues and matters at Board level, or to directors and
senior managers who themselves are at Board level.
Examples
Relevant areas of technical leadership include:
• Development of new management accounting or financial
management concepts and processes
• Development of new strategic management techniques
• Systems development resulting from changes in legislation
• New procedures and processes in specific technical areas
and specialisms
• Planning, leading, contributing to and appraising major
projects
Benefits
• Personal Development
• Proof that strategic experience has been gained, validated and
formally recognised
• Increased “employability value” at higher levels within
organisations
• Public and business perception of “Fellow” - increased prestige
• Eligibility to sit on CIMA Council
• Minimal differential in annual subscription …. despite the higher
value
What sort of opportunities?
Fellowship can provide the “extra edge” that enables you to
compete for:
• Finance Director and other more senior level positions
• Professional ‘consultant’ or ‘contractor’ type openings
Marketplace Opportunities
• Constantly changing – looking for both breadth and
depth of experience
• Evidence tells us that FCMA is recognised as being
earned
• Companies want to feel they have the best people at the
top
Business Quotes ....
“FCMA encourages ACMAs and part qualified staff to strive
for the top ……”
“FCMA speaks for itself …..in terms of strategic experience
….”
“Identifies … someone who is commercially astute and
who sees the bigger picture …”
Framework of submission
Section 1 –Application Form
• Full name
• CIMA Contact I.D
• Home Address
• Work Address
• Contact numbers
• Date of Birth
• Date you became ACMA
Section 2 –Employment Summary Form
• Chronological
• Job titles
• Precise employment dates
• Company name
• Business Sector
Section 3 - Senior Experience Profile
• Details of activities
Framework of submission
Section 4 – Organisation Charts
• Graphical display
• Clearly show your position in company
• All levels above you
• At least one level below you
• Give titles of all positions shown
• Signed and dated by senior person
Section 5 – References
• At least two, on company headed paper, signed and dated
• Ideally, most recent employment
• From senior people to whom you have reported
• Confirm period of time, employment relationship and profile content
• Endorsement of senior and strategic elements
• Exceptionally, from others who have direct knowledge of your work
• In consultancy, major clients
How much should you write
Start from either earliest strategic experience, or ACMA date
Identify 1st role that had strategy
Say 4 to 5 pages in length
Describe the whole job
Explain the strategic work you did
How far back do I go?
• Start with the first job which contained any relevant
experience and move forward
• Describe the work involved and ensure that you
carefully explain the relevant senior and strategic
experience
• If there were jobs which contained no relevant
experience, side headings are sufficient (title, company,
dates)
• It is important to give the full picture, not just the bare
minimum.
Assessors’ Tips
• Personalise the information – don’t give us a standard job description
• Don’t rely on bullet points alone – they rarely provide enough relevant information
• Make the assessors want to read your profile – an interesting, tidy and legible document
• Make it an attractive Sales Presentation – e.g. use variations in font, highlights and layout
• But remember, the content is the most important element!
A good example
MD and Finance Director, EMEA (May 06 to present)
I report to the MD EMEA, who in turn reports to the CEO XXXX Group
Overview
Responsible and accountability in all operational governance and financial matters for
XXXX EMEA region which includes leadership and support to all Country Managers and
Finance resource and consolidating Financial reporting across the UK, Middle East, Italy,
Spain, Russia, Germany, Poland, Turkey, Netherlands and France. In conjunction with
MD, I attend and present at all budget, forecasting and business reviews with XXXX
Group CEO and Group Finance Director. I work closely with MD EMEA and Business
Stream Directors in a matrix organisational structure to shape and implement the strategic
plan for XXXX EMEA. I have specific responsibility and accountability for the EMEA
region for the Group software tool and Netherlands. I currently hold full statutory
directorships in Spain and in Italy.
A good example
Detail
Created and implemented with MD an EMEA wide Strategic Plan FY
2010-2015 focused on “Regional Operating Hubs” structure enabling
greater local market engagement at senior management level focusing
on solution propositions with ambitious growth targets. Presented to and
approved by XXXX Group Executive.
EMEA sponsor on a Global Initiative Group which is chaired by the Group
Marketing Director where I have significantly contributed to product and
solution propositions development and launch go to market programmes
whilst working in partnership with Group Marketing.
I am a member of the Information Technology Committee, a senior
management forum where all major IT projects are debated, presented
for sign off and approved. This committee is chaired by CEO.
A good example
Detail (cont’d)
I am a member of the Group Workflow Committee, a senior management
forum where all operational workflows are debated, enhanced, globalised
and then implemented in order to gain consistency, efficiency and
effectiveness throughout the Group. All changes to workflows must be
signed off and approved by the committee which is chaired by the Group
Finance Director.
I am chair of the bi-weekly XXXX EMEA operational governance
management meeting, where all the EMEA directors meet up to discuss all
the current business issues, in particular the trading performance of the
business and decisions are taken in order to maximise opportunities and
mitigate risk on the short term day to day running of the operation.
I report to the MD EMEA, who in turn reports to the CEO XXXX Group
The assessment process
• Applications are currently only accepted in hard copy
• All assessments are conducted by trained assessors
who are FCMAs – 105 worldwide
• Applications are assessed by two assessors,
independently of each other (and they need to agree
with each other)
• If assessors are in disagreement, applications are sent
on for adjudication by a third assessor – usually the
Chairman of the Membership Panel
Safeguards
• The process is impartial and fair - if an assessor knows
you, they will not assess your application and it will be
sent to another assessor
• The requirements for Fellowship are generic and are
applicable to any business sector and size or type of
business
• Assessments and statistics are regularly monitored to
ensure consistency in the process and assessment
activity
and then…… the results
• Your Fellowship certificate will be sent with a
confirmation letter
• If you are deferred, assessors will suggest:
• what needs to be done to meet the requirements
• what period of time might be appropriate to gain
further relevant experience before re-submission
To find out more visit the
CIMA website at
www.cimaglobal.com/fellowship
謝謝!Спасибо!
Dziękujemy!
لكشكرا !
Thank you!
Stuart Wayment FCMA CGMA