CFA Society of Washington DC Strategic Plan September 25, 2012.

CFA Society of Washington DC

Strategic PlanSeptember 25, 2012

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Three Year Strategic Plan – FY2013-FY2015

• CFAW Mission:

"Advance members' professional success and the interests of the Washington, DC financial community.”

• CFAW Vision:

"The CFA Society of Washington, DC and its members are influential leaders in the global investment community who are respected for their knowledge, professionalism, and integrity."

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Programs Finance Outreach Candidate Education

Sponsorship

3 Chairs 3 Board Members 3 Chairs 2 Chairs 1 Chairs

FY2013:May NgCamille AlexanderClaire Emory

FY2013:Vipin SahijwaniJanna LaudatoBrian Sharpe

FY2013:Phil English (university)Anna Martinez (employer)Janna Laudato (community)

FY2013:Phil EnglishStuart Cohen

FY2013:Brad Neumann

FY13 Members:More than two dozen volunteers

FY13 Members:Lijian FangAnna Martinez

FY13 Members:Camille Alexander

FY13 Members:Shep BuckmanKatie FleissGordy HillAdrian KutkoSunil Reddy

FY13 Members:Janna LaudatoVipin SahijwaniAnn McGuire

• Prof. Ed• Networking• Training• Career

• Audit• Investment

Policy• Monitor budget

• University• Community• Employer• Regulatory

• Exam Prep• Scholarships

• Sponsor Relationships

• Sponsor Packages

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Communications Membership Human Resources

Advocacy Advisory Board

1 Chair 1 Board Member 1 Chair 1 Chair 1 Chair

FY2013:Melissa Loesberg

FY2013:Brian Sharpe

FY2013:John Greenberg

FY2013:Vipin SahijwaniLeigh Talbot

FY2013:Ann McGuire

FY13 Members: FY13 Members:Melissa LoesbergVictor Krasij

FY13 Members:Anna MartinezAnn McGuireKathy Neumann

FY13 Members:Phil EnglishJanna LaudatoAnna Martinez

FY13 Members:Hilda Ochoa BrillembourgFrank HathewayEllen SafirPeter Tanous

• Newsletter• E-blasts• Social Media• Website

• Find sponsors for members

• Membership growth

• Compensation and HR policies

• Best practices

• Outreach• Awareness• Financial

markets regulation issues

• Board advice

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Strengths Weaknesses Opportunities Threats

• Size of membership and demographics

• Program Committee• Sponsor support• Engaged Board • Operating surplus• Sizeable reserves• CFAI support• Key partnerships• Successful past RC

events

• Technology – event and student member registration

• Understaffed• CFAW public awareness• New at managing staff• Low membership growth• Underutilized Jobline• Undeveloped Employer

“Champion” program• University Outreach

(outside of RC)• Underutilized social media• Average career program

• Leverage DC market• Public, university and financial

regulator outreach• Additional training programs• Membership growth• Improved member satisfaction• Increase number of sponsors• Increase job postings• Improve website & social

media• Increase employer awareness• Growth from interested

students• Partnerships

• Key person risk• Member satisfaction• Competition from other

professional associations• Economy - not conducive

to employer reimbursement of dues/event fees nor to obtaining sponsors

How to leverage Strengths:• Better engage

members• Continue strong

program lineup• Manage sponsor

relations• Maintain fiscal

prudence• Utilize CFAI resources• Connect with young

members via technology

• Increase student contact

• Leverage free venues

How to overcome Weaknesses:• Explore new technologies• Hire support staff• Develop a multi-year

awareness strategy• Engage the press• Create effective HR comm• Re-establish Membership

Comm. & strategy• Market Jobline and

explore Boxwood opportunities

• Create ‘Champion list” and assign volunteers

• Build volunteer base• Explore other societies’

best practices• Enhance career programs

How to exploit Opportunities• DF Conference/advocacy• Refine outreach plans• Develop membership growth

strategy• Membership satisfaction

survey• Develop sponsor and

community outreach strategy• Enhance Employer Outreach

via “Meet CFAW” events• RIA career event• Revise website/improve

content• Increase social media contact• Visit local universities• Invite press to events• More coordination between

sponsorship and EO comms

How to mitigate Threats:• Develop succession and

back-up plans• Board back-up

responsibility of certain ED functions

• Documentation of office operations

• Increase transparency• Engage Past

Presidents/Directors• Enhance volunteerism

across all committees• Exceed members’

expectations on quantity and quality of programs

• Grow event sponsorship to subsidize costs with no increase in fees

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Objectives

Membership• Growth• Satisfaction• Engagement

Awareness• Public• Regulatory• University• Sponsor

Training• Seminars• Continuing Education

Administration• Improve operating efficiency• Human Resources Committee• Succession and Back-up Plans• Governance

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Initiatives Timeframe Tasks/Milestones Accountability

Grow membership 6 months

1 year2 years

Review Siebel reports for lapsed, non-members & candidates & do outreachEncourage membership in e-blasts6% growth per annum6% growth per annum

Membership and Communications Committees & staff

Increase member satisfaction

6 months

1 year &2 years

Consider member-only benefitsReview survey resultsImprove messagingWelcome packageNew member follow up (Buddy Program, ribbons on badge, emails and calls, other TBD)Improve survey score each year

Membership Committee, Board & staff

Increase member engagement

6 months &1 year &2 years

Evaluate % of members who attend eventsDiversify event times and locationsID uninvolved members and reach out in a targeted wayCollaborate with E.O.Re-assess engagement %Identify new team members

Programs, Employer Outreach and Membership Committees & staff

Membership (see Committee Plan for details)

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Public Outreach 6 months

1 year &2 years

Non-profit volunteerism opportunities, including Investment CommitteesIssue press releases as necessary & appropriateLiaise with CFAI on their efforts vs. local effortsOther public events and advertising TBD

Community Outreach Committee & staff

Regulatory Outreach 6 months

1 year &2 years

Dodd Frank ConferenceExplore CFAI discounts for regulator employeesMeet CFAW events onsite – one by year-end. Measure new membership follow-throughAnother targeted career event

Advocacy Committee, Employer Outreach Committee & staff

University Outreach 6 months

1 year & 2 years

Outreach for Research Challenge (RC) & membershipEnhance RC as marqueeMeet CFA presentations

University Outreach Committee & staff

Sponsor 6 months

1 year & 2 years

Cultivate relationshipsSponsorship kickoff meetingObtain 5 more sponsors p.a. & convert 50% of golf sponsors to event sponsor or higher

Sponsorship Committee & staff

Awareness (See Committee Plans for Details)

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Additional Seminars 6 months

1 year2 years

Survey members and employers on needsAdd non-WSP trainings (2-3 new over 12 months)

Staff & Education & Programs Committee

Continuing Education Credits

6 months Liaise with CFAI on process and develop internal procedure for support staff to follow

Staff & Education Committee

Board Training 6 months

1 year &2 years

Explore Board leadership training options and costs, possibly develop in-house, explore CFAI resourcesConsider multi-platform (webinar, other) resources and Board-Only section of website

Staff

Volunteer Training 6 months

1 year & 2 years

Ask top volunteers to participate, leverage CFAI and ASAE resources, advertise volunteer and training opportunities via e-blasts and web – measure increaseVolunteer profiles, training ads and easy sign-up in newslettersUpdate training offerings annually

Staff & Committee Chairs

Training (See Committee Plans for Details)

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Improve operating efficiency

6 months

1 year2 years

Operational Review by year-endHire support staffEvaluate membership, event and CRM options by year-endRe-assess technology adequacy and needs annually

Staff

Establish Human Resources committee

6 months

1 year &2 years

Support position description to HR Comm. by end-JulyHR Committee to meet and provide guidelines by end Sept.Ongoing HR Comm. Review

Staff, HR Committee

Develop succession and back-up plans

6 months

1 year &2 years

Develop support staff to be able to takeover in emergencyTrain Treasurer and Secretary on relevant platforms.Ongoing updates to back-up plans

Staff, Treasurer, Secretary

Governance 6 months

1 year & 2 years

Review bylaws compliance with DC non-profit code and privacy policy. 5 Board members to sponsor amendments Review legal representationReview compliance annually

Board, Ann McGuire, Staff

Administration

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Programs 6 months

1 year & 2 years

Diversify location and timing Continuing Ed creditsRe-assess member participation results

Programs Comm.

Staff

Research Challenge 6 months

1 year & 2 years

Build out and expand as marquee eventRe-assess outreach results

University Outreach Comm.

Candidate Education 6 months

1 year & 2 years

Meet or exceed past Schweser and mock exam participantsAdd new trainingRe-assess education results

Education Comm.

Communications 6 months1 year & 2 years

Engage the pressImprove website/social media

Communications Comm.

Finance & Management

6 months1 year & 2 years

Engage auditorRe-assess Investment Policy

Finance Committee, staff

Employer and Society Volunteer Outreach

6 months1 year

2 years

Plan 2 meet CFAW events Add 1 regulatory and 1 private sector by year-endExplore regulator discountsIncrease Jobline postingsAdd new targeted career eventIncrease Society volunteers4 meet CFAW events per yearOutreach to top 25 employers via multiple platforms

Employer Outreach Comm., staff

Ongoing Initiatives (See Committee Plans for Details)

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Programs Finance Outreach (University, Employer & Community)

Education Sponsorship

Increase event attendance

Engage Auditor

UO: Expand Research ChallengeOutreach for RC and membership

Meet or exceed past Schweser and BSAS results

Cultivate and nurture relationships

Continuing Education credits (with staff & Ed. Comm)

Re-assess Investment Policy

EO: Two meet CFAW events by year-end and then 4 per yearExplore CFAI discounts for regulatory employeesAdd new targeted career eventOutreach to top 25 employers

Re-assess results at year-end

Hold sponsorship kick-off meeting

Re-assess member participation at year–end

CO: VolunteerismPress releasesOther public events and advertising TBD

Explore additional seminars

Obtain 5 new sponsors each year

CE credits Convert 50% of golf sponsors to event sponsors or higher

Summary of Objectives by Committee

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Communications Membership Human Resources

Advocacy Advisory Council

Engage the press Grow membership by 6% per annum via outreach

Meet and provide HR guidelines by end-Sept to include staffing and compensation

Oversee Dodd Frank Conference and other Outreach efforts

Engage Advisory Council more regularly

Improve website Increase member satisfaction

Draft contracts and templates for performance evaluation

Increase social media usage

Increase member engagement

Ongoing HR best practices and policy reviews

Summary of Objectives by Committee

Administration Objectives:• Operational review by year-end• Improve operating efficiency – technology & processes• Recruit support person• Develop back-up plans• Support for all committees• Board and Volunteer training• Governance review

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FY 2013 Action Plan

Committee 1Q 2Q 3Q 4Q

Programs Ongoing events Ongoing eventsPlan Annual Dinner

Ongoing eventsAnnual Dinner

Ongoing events

Finance Complete auditReview investment pol.

Outreach Meet CFAW Event (EO)Meet CFA (UO)Contact 10 schools for RCDatabase of student orgsExplore advertising

Meet CFAW EventMeet CFA (UO)Explore regulator discountsRIA career eventRC as marquee/pressPress releases

Meet CFAW EventMeet CFA (UO)Top 25 outreachMeasure Jobline RC as marquee/pressPress releasesPublic interest eventID volunteer opps

Meet CFAW EventMeet CFA (UO)Press releases

Candidate Education Schweser Mock ExamSurvey on training

Add non-WSP training Mock ExamHost “quiet room”

Sponsorship Hold kick-off meetingEnhance database

Convert 50% golf sponsors

Obtain 5 more sponsors

Communications Ongoing social media Invite press to eventsOngoing social media

Ongoing social media & press engagement


Membership Outreach to lapsed, non-members and candidatesImprove membership messaging

Member-only benefitsNew and inactive member follow upReview attendanceCollaborate with EOID team members

Review satisfaction survey resultsReassess attendance

Human Resources Compensation/hiringdecision

Employee contractsPerf. evaluation formBest office practices

Perf evaluation

Advocacy DF Conference SEC event

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FY 2014 Action Plan




Ongoing events

Finance Complete auditReview investment policy

Outreach Meet CFAW EventMeet CFA (UO)

Meet CFAW EventMeet CFA (UO)RC

Meet CFAW EventMeet CFA (UO)RC

Meet CFAW EventMeet CFA (UO)

Candidate Education SchweserExplore new training

Mock Exam Mock Exam

Sponsorship Ongoing nurturing Ongoing nurturing Ongoing nurturing Obtain 5 more sponsors

Communications Ongoing social media & press engagement




Membership Outreach to lapsed, non-members and candidates

New and inactive member follow upReview attendance


Human Resources Performance evaluation

Advocacy Annual regulatory event

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FY 2015 Action Plan




Ongoing events

Finance Complete auditReview Investment Policy

Outreach Meet CFAW EventMeet CFA (UO)




Candidate Education Schweser Mock Exam Mock Exam

Sponsorship Ongoing nurturing Ongoing nurturing Ongoing nurturing Obtain 5 more sponsors

Communications Ongoing social media & press engagement




Membership Outreach to lapsed, non-members and candidates

New and inactive member follow upReview attendance


Human Resources Perf. evaluation

Advocacy Annual regulatory event

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Monitoring and Implementation

Monitoring• Board Oversight – At monthly meetings• Committee Plans – First due by Tuesday August 14, 2012• Mid-Year Reports – First due by Wed. January 9, 2013• Year-End Reports – Due by mid-June 2013 before last FY13 Board

Meeting

Implementation• Board level – Advisory role• Committee level – Action plans• Administrative level – Execution assistance

CFA Society of Washington DC Strategic Plan September 25, 2012.

Documents

Transcript of CFA Society of Washington DC Strategic Plan September 25, 2012.