Transcript Slide 1

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RMA Chapter Board Orientation Call
September 18, 2014
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WELCOME
• Thank you for volunteering on the local chapter board!
• Purpose of today’s session
• Today’s speakers
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WHO IS RMA?
Mission:
RMA is a member-driven professional association whose
sole purpose is to advance sound risk principles in the
financial services industry.
RMA helps our members use sound risk principles to
improve institutional performance and financial stability,
and enhance the risk competency of individuals through
information, education, peer sharing, and networking.
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MISSION/ PURPOSE OF A CHAPTER
RMA Chapters:
• Serve local members and are the face of RMA to many
of our members. Provide added value in local markets.
• Provide networking and peer sharing opportunities.
• Help retain and generate new memberships.
• Help provide education in local markets.
Successful Chapters:
• Survey members regularly and meet demands.
• Create affinity groups to serve all RMA members.
• Have a strong and committed board.
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WHAT CHAPTERS OFFER
Add member value in local markets through:
– General membership
meetings.
– Networking events
– Educational events:
RMA open enrollments
and chapter developed
training.
– Round tables
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– Affinity group meetings
(ERM, Op Risk,
Compliance, YP, WIB,
etc.)
– CRC study groups/
info sessions.
– Regional conferences
– Other programs:
scholarships, charity
events, university.
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INSTITUTIONAL MEMBERSHIP
• Banks, thrifts, investment banks, insurance companies,
regulatory and supervisory authorities, government and
quasi-government entities.
• Canadian credit unions, but not U.S. credit unions.
• Dues based on the total assets of the institution.
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INDIVIDUAL MEMBERSHIPS
Associate
• Only an employee
of an Institutional
member of RMA
may become an
Associate.
• Annual Associate
membership dues:
• $75.
• Chapter fees are
additional (if
applicable).
Continuing
Associate
CRC
Associate
• Former Associates
who have moved
to nonmember
institutions.
• $150
• Individual member
who has passed
the CRC exam and
is with a
nonmember bank.
• $260
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INDIVIDUAL MEMBERSHIPS (CONT.)
Professional
Members
• Individuals from the
nonbank financial
services industry
(finance/leasing
companies).
• Individuals from
professional services
firms (accounting,
law, consulting, etc.).
• Annual Professional
membership dues:
• $275.
• Chapter fees are
additional (if
applicable).
Academic
Student
• Professors teaching
risk management fulltime
at accredited
institutions.
• $175
• Full-time students
with risk
management major
(business, finance,
accounting, etc).
• Undergraduate
Freshman are
excluded.
• Membership is free
and renews annually
until one year past
graduation date.
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Chapter Resources
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HIGHLIGHTS
115 Chapters in North America
Includes 5 in Canada
Served by 5
Regional
Managers
Chapter categories:
small, medium, large, regional, or start up.
Regional chapters:
• Oversee multiple local chapters (like a
holding company).
• Provide support to the local chapters
• 4 regional chapters in the U.S.
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International chapters:
• Australia
• Singapore
• Hong Kong
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CHAPTER RESOURCES
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REGIONAL MANAGERS
Central Region: Jamie Jones, 941-366-302
[email protected]
Northeast Region: Sandy Sutermaster, 412-787-5625
[email protected]
Southeast Region: Laura Ridner, 843-225-4690
[email protected]
Southern Region: Cindee Munro, 623-266-2344
[email protected]
Western Region: Erin Jester, 559-326-7444
[email protected]
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CHAPTER RATING
Chapters self report
via the Chapter
Planning Guide,
which is intended to
be a planning and
performance
evaluation tool.
Chapters can obtain
Platinum, Gold, Silver,
or Bronze status
based on their
performance.
Platinum
Gold
Silver
Bronze
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Platinum awards
are given at the
Annual Risk
Management
Conference.
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CHAPTER PLANNING GUIDE
MANDATORY DEADLINES
• August 15 - Board Roster Due
• August 31 - Conduct a Planning Meeting and Submit
Draft
• January 15 - File Taxes
• March 15 - Conduct Mid-Year Review
• April 30 - Submit Cosponsored Educational Planner
• August 15 - Submit Final Planning Guide to RM
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REACHING FOR PLATINUM
FOR SUCCESS
– Meet minimum General Membership and Educational Offerings
– Experience a net positive growth in individual membership
– Successfully hold Open Enrollments as at least half of your
Educational Offerings
– Establish and maintain two separate affinity groups
– Participate in all HQ calls (Orientation, Regional, Audio Chat and
YP)
– Have a signed Chapter Affiliation Agreement on File
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CHAPTER RESOURCES
•
•
•
•
•
•
•
•
•
Regional Manager and HQ Support
Chapter Planning Guide
RMA website
Online registration
Reports
Cosponsored educational classes
Templates
RMA’s Handbook for Chapter Board Members
Awards and recognition
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CHAPTER RESOURCES
CHAPTER LEADERS CONFERENCE
• Our way of saying thank you!
• Provides chapter officers with
networking opportunities and tools to
enhance their leadership skills and to
help them run successful chapters.
• RMA covers registration and hotel stay
(2 nights) for up to three chapter
officers.
• Mark your calendars! Scottsdale, AZ
June 18-19
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YOUR ROLE AS A BOARD MEMBER
•
•
•
•
•
•
•
•
•
Support RMA and its mission.
Contribute to the planning and execution of activities of the chapter.
Help recruit new members.
Ensure adequate financial resources.
Protect assets and provide proper financial oversight.
Build a competent board and plan for succession.
Ensure legal and ethical integrity.
Attend all or as many board meetings as possible.
Act as a liaison between your institution and your chapter –
communicate the needs of your institution to help the chapter
develop appropriate events. Communicate chapter events back to
your institution and encourage attendance.
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CHAPTER AFFILIATION AGREEMENTS
Background
–
RMA operated in an informal way with its Chapters during most of its 100-year history.
–
Nonprofit organizations, such as RMA, often allowed third parties to use their trademarks –
such as their logos – without much control.
• This was not a major problem years ago when nonprofits were less aggressive in
disputing trademarks and had charitable missions that made courts more tolerant.
•
•
Best Practice: for a nonprofit to license its trademarks to its Chapters and to include specific
controls in order that the nonprofit can police its marks to make sure that its Chapters are using
the marks correctly.
– See Wall Street Journal cover story, August 5, 2010.
Under the Chapter Affiliation agreement, RMA grants to each Chapter a :




limited,
revocable,
non-exclusive,
non-transferable,
 non--assignable license
To use
 the name “The Risk Management Association,”
 the acronym “RMA,”
 the RMA logo
for official Chapter-related purposes consistent with RMA’s Mission.
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British Alberta
Columbia
Manitoba
Quebec
Sask.
Nova Scotia
Ontario
AK
ME
WA
MT
OR
ID
WY
NV
CA
ND
MN
WI
SD
IA
NE
UT
AZ
CO
NM
KS
OK
TX
NY
MI
IL IN
OH
PA
WVA
VA
NC
SC
AR
MS AL GA
LA
FL
MO
KY
TN
VT
NH
MA
RI
CT
NJ
DE
MD
Central Region – 20 signed
Northeast Region - 11 signed
Southeast Region – 24 signed
Southern Region – 12 signed
Western Region – 21 signed
Chapters & Community Banks
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CHAPTER BYLAWS AND INCORPORATION
• Chapter Bylaws
– Review annually
– Chapters should conduct business following the bylaws and
update the document when changes are being made
– Model set of bylaws and detailed explanation available from
Regional Manager
• Chapter Incorporation
– 501(c)6
– Personal protection
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FINANCE, TAX COMPLIANCE, INSURANCE
CHAPTER OFFICER RESPONSIBILITIES
Finance and Internal Controls
• Develop a basic set of financial controls and reporting
requirements
– Manage and approve expenses; track funds received
– Reconcile bank statements
– Prepare financial reports for review by the Chapter Board (on a
regular basis)
– Develop a storage plan for chapter documents that can be easily
transferred from one set of officers to the next
– Be sure to have an audit committee to review the books annually
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FINANCE, TAX COMPLIANCE, INSURANCE
CHAPTER OFFICER RESPONSIBILITIES
Tax Requirements
• Every chapter is REQUIRED to file a tax return with the IRS on an
ANNUAL basis
– Form 990 Return of Organization Exempt From Income Tax
– Chapters with gross receipts less than $50,000 are required to
electronically file form 990-N
– All tax returns or electronic filings are due each January 15th
(based on an August 31st fiscal year)
• There are failure to file penalties of up to $10,000 (actual penalties
are based on the level of chapter gross receipts)
– IRS will revoke tax-exempt status of any chapter that fails to
meet its annual filing requirement for three consecutive years
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FINANCE, TAX COMPLIANCE, INSURANCE
CHAPTER OFFICER RESPONSIBILITIES
Insurance Recommendations
•
Each chapter should determine whether it has appropriate insurance
coverage
– Ensure that your treasury, your chapter members, and yourselves are properly
protected
– Chapters are NOT covered by RMA headquarters insurance policies for your
local activities, meetings, events, etc.
– Consider purchasing commercial general liability insurance with a minimum of
$1M coverage
•
As chapter officers & board members, please be sure to protect
yourselves as well
– You assume a degree of liability for the decisions you make or should have made
– Consider purchasing Directors & Officers insurance coverage with a minimum of
$1M coverage
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CHAPTER BOARD ORIENTATION MEETING
• Chapter Planning Guide Check List Item
• Orient new board members to RMA and your chapter
• Agenda Items

RMA Mission – Who is RMA?

Chapter board structure and succession plan

Board Meetings – How many and when held?

Who does the chapter serve?

Events – How many? – What type? – Signature Events?

RMA Resources
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CHAPTER BOARD ORIENTATION MEETING
• Resources

Handbook for Chapter Board Members

Materials from Chapter Board Orientation Audioconference

Board Orientation Guide

Regional Manager
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Q&A
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THANK YOU!
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