Committee Reports Feb 2015
EXTERNAL AFFAIRS AND INSIGHT COMMITTEE – 10 December 2014
CMI Update - Having considered the business update, the Committee agreed that it should focus on partnerships at its next meeting. Members recognise that Business School activity is proving very fruitful. Additionally, an overview of international expansion is seen as an area for the Committee to consider in the future. Further work to be explored is how to enable SMEs to better engage with Business Schools.
Research Agenda Topics 2015 - The Committee received research plans for 2015/16. The plans were endorsed, ie retention of Management 2020 and Ethics as core themes; with specific reports such as the Gender Pay gap study and Quality of Working Life research also to be continued.
Consideration was given to success metrics, to be expanded beyond GRP (gross rating points) into a range of measures (Lead Generation, PR Outcomes etc) which would be applied where appropriate. These measures would augment the KPI dashboard that was already provided.
Code of Conduct and Practice – With the Code being launched in October 2014, the ongoing promotion strategy needs to be considered. This will be a focus for the next meeting.
IC ADVISORY COMMITTEE – 13 January 2015
Strategic priorities 2015/16 – Having considered the plans for this year, the Committee agreed that 2015/16 is a vitally important year for the IC and its members, and requires a focus on a small number of IC-led projects, which also align with, and have impact on, wider CMI strategic initiatives:
- Member engagement – a cross-Institute strategic review of member product propositions, grade and sector segmentation, and effectiveness of member communications - ensuring that we are meeting the needs of members from their professional body (both managers and consultants)
- ‘Chartered Management Consultant’ (ChMC) award – development, formal approval, implementation and launch activity for this brand new award, ensuring stakeholder engagement, and looking for a long term sustainability plan
- Establishment of the ‘consultancy community’ within the CMI and re-connection with members – which is part and parcel of the ChMC launch; agreeing how this should happen and what the community will look like; ensuring member consultation and establishing a timeline for transition.
These priorities will shape the Committee’s agenda in the coming months and will form the basis of success measures for the Committee to monitor on ICs behalf.
The Committee members heard and understood how these IC strategies are positioned in the context of the overarching priorities of the CMI. The overriding message is that IC success is depending on CMI success, and that consultants and consultancy are part of CMI.
Communications cascade and IC Champions get together – The Committee considered the outcomes of the Member Engagement day held on 7 November 2014, as well as general feedback from IC Champions. There is an ongoing need to improve communications with IC members and ensure that we are responding appropriately to member needs, including requests for technical information. Key messages from IC Committee meetings will be sent to IC Champions no later than 4 days after each meeting and will be actively followed up by Committee member contacts. Communications processes are also an integral part of the membership engagement review. The Committee welcomed plans to hold an IC Champions event during the early part of 2015, and agreed that Committee member involvement in this activity is important.
IC membership fees - The Committee agreed recommendations to the Board of Trustees regarding IC membership fees for this financial year 2015/16.
FINANCE AND AUDIT COMMITTEE – 14 January 2015
Strategy update – The Committee was updated on this year’s overall income forecast, as well as performance across the core business areas. The strands of strategic activity for 2015/16 were explained and endorsed.
Finance report - There was brief discussion on the Institute’ positioning as a charity vs a more commercially focused organisation – how the two fit together and, in particular, the Committee’s perception that there is greater focus on commercial, rather than charitable, activity. It is clear that the Institute is not a conventional charity, and in essence is a social enterprise. Much of the growth is coming from areas deemed as charitable in the widest sense of the word – linked to the mission to improve Management and Leadership capability, including education partnerships and curriculum enrichment, for example.
In considering the finance report, particular questions were raised regarding the level of staff costs, due to recent staff departures; and the recent activity with regard to the investment portfolio, which entailed the selling of low performing investments.
Policy on income recognition – This was a detailed paper presented to the Committee. Members welcomed the detailed overview and the benchmarking exercise with peer Institutes. It was agreed that, whatever changes are agreed, the overarching policy must have longevity. The recommendations from the Committee were agreed for submission to the Board of Trustees.
External audit tender process – The Committee agreed that six firms be invited to submit an expression of interest for appointment as external Auditors to the Institute. The aim is to shortlist a maximum of three firms for interview, a process in which members of the Committee will be involved. The proposed process and draft invitation letter were considered and approved.
Internal audit – The Committee was updated on the progress of the internal audit programme, and welcomed the fact that the areas reviewed, ie governance, ledger and budgetary control, and digital delivery, have received a ‘substantial assurance’ report. Recommendations have been made on Regional volunteer activities, and these are being taken forward, focusing on regular monitoring by the Regional Board of their operating plans. The final report will be presented to the Committee’s next meeting.
Review of risk management register – The latest version of the risk management register was considered and approved for issue to the Board. The Committee is supportive of the Board’s intention to review the format and scope of the register and align it to the 2015/16 business plan priorities.
Committee effectiveness review – An assessment of the Committee’s activities during 2014 was discussed, the aim being to ensure that the terms of reference have been fulfilled. The comments raised will lead to a possible readjustment of the terms of reference, to make sure they accurately reflect the Committee’s work. These changes will come forward to the Board in due course for approval.
Business Continuity update – Phil Goff, Head of IT, updated the Committee on the business continuity plan, with specific reference to IT capability and recovery plans. The move to Cloud based systems are aimed at ensuring greater capacity and flexibility for members of staff to work from home, in cases of emergency, for example, should access to office space be temporarily restricted. Discussion focused on data and information security, and the need to ensure password protection and data encryption. Members welcomed the service level standards being achieved by the IT team, which was ensuring an average 99.97% availability of systems.
BOARD OF COMPANIONS – 21 January 2015
This meeting focused on rejuvenating Companion selection, offer and engagement.
Report from Assessment Panel - The Board endorsed the recommended candidates for Companionship, agreeing that they reflect a good range of Companions from a variety of sectors. The Board is setting a target to follow up the recruitment target of 50 in the current year, with recruitment of a further 100 new Companions in 2015/16.
Selection criteria for Companionship - The Board agreed new, principles-based selection criteria for Companionship. Whilst the current scope and purpose of Companions remains as is, further criteria are to be applied aiming to increase engagement, via recruitment of Companions who may have more time to participate in activities. Companions will now be assessed against 4 broad criteria:
- Purpose – a clear sense of purpose; strong values and integrity
- People - a track record of achieving results through people
- Potential - evidence of giving back to the wider management community, developing the next generation of leaders and building sustainable organisations
- Influence - recognised by their peers (ie fellow Companions) as significant leaders in the field of management.
This reflects the thinking behind CMI’s recent research on the future of management and the recent review of the Institute’s Code of Conduct and Practice.
Companion Offer and Engagement - The Board agreed a new annual programme of Companion events, reflecting a greater variety of activities, which aims to:
- increase the active engagement of Companions, especially new recruits
- create more opportunities for Companions to contribute and participate in thought leadership agenda and to the body of knowledge
- enable Companions to more easily share their insights and management and leadership expertise
- increase the profile of Companions – both externally and across the CMI
- facilitate networking opportunities for Companions.
The Executive Team will be exploring the areas of management of particular interest to new Companions and their willingness to become involved in specific elements of the Companions programme. This process also will be applied retrospectively to all new Companions who have already joined in the current year. Further suggestions were put forward by the Board, and will be followed up, including
- An “Ask a Companion” Service, whereby Companions and other members with management problems could submit a query, to be forwarded to a few Companions for their feedback. This would supplement the existing “Ask a Researcher” Service.
- Setting up closed segmented groups on LinkedIn and Facebook for Companions.
Going forward, future programmes will be based on the most popular and successful events and any learnings from them. The intention is also for a fully updated list of Companions (names and job titles) to be placed on the website, following a data sifting exercise, as a replacement for the previously printed booklet.
REGULATION COMPLIANCE COMMITTEE – 28 January 2015
New Chair - Ian Owen, chairing his first meeting of the Committee welcomed everyone to the first meeting of the year, explaining his role to act as a direct link to the Board of Trustees for the Committee to represent their views.
Risk Register - A number of changes were made to the Awarding Body risk register, including:
Changes to QA structure – As all Centres have now been visited and understand the requirements of the QA structure, this item of risk can now be removed.
Learner Authenticity – This relates to the issue of plagiarism among learners. Developments being implemented by August 2015 were noted as:
- investment in plagiarism software
- sampling undertaken by CMI, rather by overseen by the Centre itself
Compliance with Regulators: - This risk score is now considered to be GREEN, as there are now fully robust controls in place.
Finance Update – The Awarding Body is currently £250k ahead of its budget. This is due to increased uptake of the Army Skills Offer; the success of the partnerships with HE; and improved service-led account management.
The Committee noted the actions planned for 2015: 1) expansion of the Education Provider network; 2) reduction in the number of dormant centres; 3) Focus on lower level qualifications; and 4) International development. The Committee is interested in particular to be engaged in the international strategy development on the qualifications side.
Awarding Body Scorecard - A draft Awarding Body scorecard was presented to the Committee, with a variety of detailed Awarding Body statistics for the Committee to be aware. Sight of the trends and impacts of policies in the Awarding Body will give reassurances on compliance. This information will be provided on a quarterly basis. One area to highlight was the QA Manager visit schedule, which is currently very full in order to achieve visits to all centres.
Audit Findings - The internal audit work has provided initial rating scores, which the Committee now has to review, in particular those with a red/amber rating against the Ofqual conditions. This review will be undertaken during February in the run up to the next meeting. The final step in this process will be to draw up the Statement of Compliance, for consideration at the April meeting for the Committee.
It was agreed that the Accreditation Auditor would visit Centres with the Quality Managers, to observe and ensure standardisation of the visits. It was also agreed that, once a year, the Committee will receive a report from the Lead Moderator.
Validity Statements - A validity statement for the Awarding Body and its qualifications is being developed, based on Ofqual’s seven key lines of enquiry.
WIM ADVISORY COMMITTEE – 28 January 2015
Committee role – The members present commenced the meeting with a discussion on the Committee’s role and remit, expressing the need for further clarity on this to ensure that the Committee adds value and is able to influence activities at strategic level. There is concern that meeting attendance has reduced in recent months. It is important to understand the reasons for this. The way ahead may be to focus on a small number of face to face meetings, supported by tele-conferences.
CMI Strategy update - A written update was provided to the Committee. The strategic project on member engagement is clearly of particular interest, given the opportunity to re-evaluate the WiM Network and the benefits of belonging to it. Committee involvement in this project will continue.
Gender Diversity Offer – This has been seen as the key deliverable for the Committee. A change of approach is now being put forward, the view being that research is needed on best practice insights. It was agreed that it was important not only to canvass WiM members, but to go out to other relevant networks. Concern was expressed at the tight timeframe for the research exercise, but the Committee was supportive of this work, anxious to regain momentum. It was agreed that a draft survey will be circulated to the Committee in due course, with a teleconference arranged to give members an opportunity to make an input.
Priorities for WiM 2015/16 - These were agreed as:
.1 engaging in Thought Leadership events, in particular the MT Live Inspiring Women series
.2 maintaining closer contacts to exert influence on the WiM Champions on the Regional/Devolved Nation Boards and WiM Networks, ensuring a programme of activities across the UK
.3 forging relationships with National Women’s Networks
.4 promoting the WIM Network itself, using the collateral available, through the contacts made with other Women’s Networks, taking advantage of opportunities to contribute speakers, hold workshops and run webinars etc.
Communication links – Committee member involvement will be sought in the forthcoming get-together planned for the WiM Champions on the Regional Boards. It was agreed that the marketing collateral now available on WiM must be used as widely as possible to convey a positive and consistent message on the WiM Network and its importance to the Institute.