GENERAL MEETING 17 JUNE 2019
CPD STRATEGY
CPD - READY FOR THE NEXT PHASE TANGIBLE BENEFITS FOR OUR MEMBERS & STAKEHOLDERS Career enhancement with high quality and easy accessable CPD Members Harvest added value and Has a clear framework CFAVBA regulatory compliance of that guides actions Employers Board CPD for their employees throughout the year CFAVBA CPD program Receive guidance from Embeds a Dutch CPD CPD CFA CFAVBA on the requirements program that fits & enriches Providers Institute to develop and offer content the global CFAI CPD strategy Regulators Have a clear overview and assurance on where and how regulatory requirements are met 3
CPD PHILOSOPHY A LIFE LONG LEARNING The highly competitive and ever-changing investment We support our members' commitment to continuing management industry values trustworthiness and up- professional development and lifelong learning by to-date expertise. This asks commitment of offering a Continuing Professional Development investment professionals to continuously develop (CPD) program included in your membership fee. their knowledge, skills and abilities. Our CPD philosophy delivers the following member values Q U A L I T Y O P E N N E S S F L E X I B L E N E T W O R K High quality and relevant Combine all your Tailor made education Expand your network & education, online & offline educational activities, that you need is included meet with peers internal & external in membership with the possibility for specialized top-ups 4
CPD PHILOSOPHY STRONG FOUNDATION & EASY ACCESS The basis of the Continuing Professional CPD road to earn CE credits for Development (CPD) program is the qualified learning activities Professional and Competence Framework of CFA Society VBA Netherlands. I D E N T I F Y T R A C K When following the Continuining Professional Development (CPD) program you can R E P O R T indicate your MIFID II compliancy. 5
CPD FRAMEWORK ALL THE CPD YOU NEED INCLUDED IN MEMBERSHIP POSSIBILITY FOR SPECIALIZED TOP-UPS Included in Paid membership VBA academy Local CFAVBA events CFAVBA Events International CFA I online CFA Institute content events 6
VBA PROGRAM
CURRENT VBA PROGRAM HIGHLY RECOGNIZED AS VALUE ADDING & READY FOR REPOSITIONING ● 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. 8
VBA ACADEMY AIMS AND OBJECTIVES OF THE 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.
VBA ACADEMY STRUCTURE AND SET-UP OF MODULES ● 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.
VBA ACADEMY KEY COMPETENCES TO BE INTEGRATED IN 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
PLANNING CYCLE FISCAL YEAR 2019-2020 January February April April • Draft • Strategy • Discuss • Draft budget meeting draft strategic board strategic plan plan and • Draft annual plan annual plan with committees May June • Board • Budget determines submitted strategic for member and annual approval plan 13
STRATEGIC PILLARS 1. Member value 2. Credentialing 3. Standards and Advocacy 4. Governance 5. Integration 14
1. MEMBER VALUE – DELIVERABLES 2019/2020 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 15
2. CREDENTIALING – DELIVERABLES 2019/2020 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 16
3. STANDARDS AND ADVOCACY – DELIVERABLES 2019/2020 1. Recognition of CPD program in MiFID II context 2. Communication to members, employers, potential members 17
4. GOVERNANCE – OBJECTIVES 2019/2020 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 18
5. INTEGRATION – OBJECTIVES 2019/2020 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 19
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� � � 751� � � 639� � � 640� � � 638� � � 635� � � 633� � � 628� � � 624� � � 626� � � 3� � � 3� � � -1� � � -4� � � -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) Inkomsten� /� Revenues,� budget� =� 796� Uitgaven� /� Expenses,� budget� =� 794� x� 1.000� euros� x� 1.000� euros� Society� dues� � � � � � � � � Staffed� Office� 157� 420� Consultancy� fees� 70� CFA� Institute� Funding� � � � � � 360� Marketing� 102� Allocation� staffed� office� 33� Board� 10� Events� � � � � � � � 95� Events� 120� Strategic� sponsors� 130� Committees� 10� Publications� 1� Publications� 57� Advertisements� Website� 20� 5� Initiele� Begroting� /� Initial� Budget� Initiele� Begroting� /� Initial� Budget� Definitieve� budget� /� Final� budget� Definitieve� budget� /� Final� budget�
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