Three-Year Strategic Plan - CFA Institute€¦ · Three-year Strategic Plan, 2011-2014 VISION: We envision a CFA Minnesota that is: Widely recognized, well respected, and highly valued

Three-year Strategic Plan, 2011-2014 Three-year Strategic Plan, 2011-2014

CFA Society of Minnesota Three-Year Strategic Plan

2011-2014


VISION: We envision a CFA Minnesota that is: Widely recognized, well respected, and highly valued by investors, academia, and the business community in our region. A society whose members are actively committed to enhancing the value of the organization by willingly giving of their time as volunteers. Continuously experiencing growth due to its unerring responsiveness to the needs of its members and its success at developing a strong sense of community amongst investment professionals within our region.

MISSION: To enhance the investment profession by promoting high ethical behavior, professional excellence, and fellowship through offering quality, innovative programming.


2011 Strategic Planning: Our annual planning included brainstorming sessions using a SWOT analysis and a review of the past year, as summarized below (in no particular order). The following pages reflect a plan to address these issues and to amend and fulfill our 3-year plan.

Strengths Strengths are helpful to achieving objectives and originate internally •Size and engagement of board

•Size of volunteer staff •Staffed office/Maren

•Size of due-paying membership •Internal knowledge/Local expertise

•Breadth •Depth

•Relatively compact metro area •Internally-sourced programming •Growing reputation within community •Stability of executive leadership •Open to change – flexible mindset •Committed to constant improvement •Breadth/strength of programming •Excited/Engaged advocates/leadership How can we Use each Strength? •Adjust base income according to needs of society and members •Change the way annual dues are charged (tier, rate, etc.) •Focus on more “hot topics” •More roundtables •Better market our strengths

Weaknesses Weaknesses are harmful to achieving objectives and originate internally. •Member base apathy •Key-man risk (staff & board) •Clearly defined value proposition (elevator pitch) •Increase revenues through new sources •Cyclical revenue streams •Volunteer turnover, lack of follow through, and lack of time to commit to organization/society •Lack of institutional knowledge •Job-seeker “taint” •Potential complacency How can we Overcome these Weaknesses? •“Sell” the brand better, explain the CFA, define a value proposition •Free event with membership •Offer 1 year of free membership •Change perspectives/marketing issue

Opportunities Opportunities are helpful to achieving objectives and originate externally •Better/more ties with academic community •Non-involved members, increased participation •Best practices – other societies or orgs •Mentoring •Philanthropic opportunities •Investor Conference •Engaging the alternative investment community •Provide more resources for people looking for jobs/continuing education •CE credit for CFA/CAFC How can we Exploit each Opportunity? •Strengthen mentorship •Social Media •University outreach •New member event/orientation •Rock the Investor Conference •Partner relationships •Focus groups to address concerns •Education/Employer outreach •Change golf format? •Programming

Threats Threats are harmful to achieving objectives and originate externally. •Burnout – Board/Maren (no Maren clone, other offers) •Financial support – no reserve •Coastal migration of assets •Lack of perceived value from members and sponsors •Other competing organizations •St. Paul break off •Economy; business under pressure – budgets are tight •Lack of a succession plan •CFA Institute unpredictable How can we Defend against each Threat? •Properly plan for staff turnover •Broaden outreach to non-asset managers •How can we impact migration of assets?



OBJECTIVES: Multi-year areas of focus that will guide us in fulfilling our

Mission and achieving our Vision during the next three years include:

Value: Value Proposition/Promotion – Define, provide and consistently promote the highest level of value to members through a variety of quality, relevant and accessible deliverables.

Sustainability – Enhance value by ensuring efficiencies in society operations and governance.

Outreach: Member Engagement – Increase volunteer involvement through well-coordinated committee/project structure and increase over-all event attendance through consistent outreach, engaging with each member at least once per year.

Broad Awareness – Use clearly defined campaigns focusing on top employers, local CIOs, academia and the general business community to broaden awareness of society activities, members and the CFA Charter.

Programming: Educational Offerings – Expand current partnerships with academic institutions; Further develop mentoring program; Continue and expand scholarship offerings; Promote Student membership and Candidate opportunities.

Topical Offerings – Continue broad array of market-segment-specific programming; incorporate “hot- topic” opportunities; Further diversify program offerings


Member Value: Value Proposition & Promotion Define, provide and consistently promote the highest level of value to members through a variety of quality, relevant and accessible deliverables.

Initiatives Timeframe Tasks/Milestones Accountability

Clearly Define Value Proposition

6 months 1 year

- Create focus-groups; interview members; gather testimonials - Develop value prop language for promotional use

Marketing Committee Membership Committee

Promote Value 1 year 2 years

-Develop promotional plan to raise awareness of society value - Use newly crafted language in member outreach

Marketing Committee

Assess Member Engagement

6 months 1 year 3 years

- Assess current engagement levels through attendance/surveys - Determine modes of increasing engagement; enact those - Have measurably increased member engagement to min. 15% - Provide new members support to ensure early engagement

Membership Committee Marketing/Programs

Full Board/Staff

Local Compensation Survey


-Form sub-committee to explore data, collection/delivery methods - Identify participating firms; collect data; assemble; distribute - Review project; determine continuation

Employment Committee Sub-Cmte

Executive Committee

Continue Targeted Offerings, SIGs

1 year 3 years

- Reach out to Plan Sponsors Forum and similar groups. Assimilate. -Continue and develop new relationships with partner assns

Program Committee Executive Director


Member Value: Organizational Sustainability Enhance value by ensuring efficiencies in society operations and governance.


Staff Succession Plan 1 year 2 years

- Confirm office manual completion and contents; - Define transition procedures, hiring manager, etc.; Draw plan.

Executive Committee Executive Director

Office Sustainability ongoing - Ensure pricing of goods/services are consistently low - Maintain high-quality office on low-budget - Review staffing levels; comp. to mitigate undesirable turnover

Executive Director Executive Committee

Refine Board &

Develop Desirability

1 year

ongoing

- New members from non-represented firms - Increasingly higher-level candidates - Assure board reflects Membership

Nominating Committee Entire Board

Board Governance 6 months

1 year ongoing

- Finalize long-term financial plan - Assure compliance with Board Governance best practices - Implement any governance best practices not currently in use

Treasurer/Business Cmte Executive Committee

Increase & Diversify Sponsor Revenue


- Increase sponsorship revenue by addt’l $10k this fiscal year - Identify target sponsor firms; Target top 10 employer firms - Build new and continue current sponsor relationships

Sponsorship Coord Executive Director

Biz/Financial Mgmt Cmte

Develop Current

Revenue Opp.s

6 months 1 year 2 years 3 years

- Capitalize on website revenue opportunities - Increase newsletter ad and article sales: Target=$250/month - Increase non-member attendance; review current levels to set target goals for increases - Enhance and expand royalty and affiliation programs

Marketing Committee Executive Director/Staff

PR Firm Sub-committee chairs


Outreach: Member Engagement Increase volunteer involvement through well-coordinated committee/project structure and increase over-all event attendance through consistent outreach, engaging with each member at least once per year, thus solidifying Society as hub for local community.


Continuing Education Initiative

ongoing - Promote availability and importance of CE credits - Increase ease of submission/collection for non-Charterholders

CE Coordinator/Ed Cmte Mktg Cmte/Staff

New Member Welcome Events

6 months 1 year

ongoing

- Determine material for presentation; select initial date/s - Have held min. 1 event; decide annual or semi-annual - Provide means for new members to engage

Membership Cmte Programs Cmte

Member-Driven Social Programming

1 year

2 year

- Encourage Member-driven social events, such as skiing, basketball, poker, charity runs, etc. -Promote 6 member-driven events

Membership Cmte, Social Chair,

Programming Cmte

Volunteer Outreach Effort

6 months 1 year

- Hold min. 1 event per year to acknowledge volunteers - Assigning all interested volunteers to projects/committees - Continue to grow volunteer base through: web-driven or directed inquiries, surveys, direct asks, and other means.

Volunteer Coordinator Staff

Full Board


Outreach: Broaden Awareness Use clearly defined campaigns focusing on top employers, local CIOs, academia and the general business community to broaden awareness of society activities, members and the CFA Charter.


Media Guide 6 months 1 year 2 years

-Complete initial phase; constrain project to sub-committee - Assess events; maintain online forum - Determine if reprint/republishing needs

Exec. Dir. Sub-Chair

Philanthropic Effort 6 months 1 year 2 year

- Define objectives of philanthropic outreach; explore sub-committee - Determine types of efforts/organizations with which to partner - Promote opportunities/partnerships to members

Membership Committee

Firm Specific Outreach

1 year -Identify firm types/specific firms with which to connect, especially: Non-Profit, Family Office and Private Wealth

Public Awareness Cmte

Media/Marketing ongoing - Analyze potential marketing opportunities - Define budget & goals; Including TPT, MPR, MSPBJ, TCB, etc.

Public Awareness Cmte Exec. Dir.

Investor Conference 6 months 1 year

- Have confirmed with firms and companies; logisitcs in place - May 2012 event; post event review - Decide whether to repeat; annual/biennial?

InvestMNt Sub-Cmte & Program Cmte

Employer-Focused Outreach


- Identify CFA employer tiers; select initial targets - Identify specific contacts: CIO, HR, Marketing, primary CFA - Appropriately directed campaigns to key contacts RE: hiring, value, events, sponsorships, other.

Employment Cmte & Outreach Chair

Co-Sponsored Events 3 year - Continue current partnerships - Seek new organizations with which to partner - Co-sponsor/co-promote min. 3 events/year

Project Manager Program Cmte


Programming: Educational Offerings Expand current partnerships with academic institutions; Further develop mentoring program; Continue and expand scholarship offerings; Promote Student membership and Candidate opportunities.


Ethics Initiatives 3 year ongoing

- Become known as ethics leader through specific programming - Regularly highlight ethics in promotional/marketing material

Full Board Marketing Cmte/Staff

University Outreach 1 year ongoing

-Promote society and CFA designation - Co-sponsor events; coordinate with student finance clubs

Education Cmte University Liaison

Employer Trainings 1 year -Identify employers seeking financial educational opportunities -Identify subject areas, trainers, costs, etc. -Explore offering half-day sessions

Sub-Committee Chair Programs Cmte

Enhance Mentor/Mentee

Program


- Identify pool of qualified senior members to act as Mentors - Promote program to members - Continue pairing mentors/mentees

Membership Cmte & Sub-Committee Chair

Enhance Scholarship Program

3 years - Distribute maximum CFA Institute-sponsored scholarships - Identify seed funds for potential new scholarhsips: HS/College - Identify creative ways to promote to future CFA candidates; distribute additional scholarships

Education Cmte Scholarship Coordinator

Univeristy Liaison Sponsorship Coordinator


Programming: Topical Offerings Continue to offer market-segment-specific programming and further diversify program offerings, including incorporating “hot-topic” alternative or remote opportunities.


Initiate hot-topic programming

6 months 1 year

- Identify Coordinator; explore delivery methods (calls, webcast) - Execute 4-8 sessions/events

Programs Committee Sub-Committee Chair

Unemployed Member Services

1 year

2 years

- Plan/offer up to 3 workshops in addition to Career Day - Identify ways to better support unemployed members - Support group; Connections with Recruiters; networking events

Career Dev. Liaison Employment Cmte

Social Programs Chair

Recruiter Outreach 6 months - Identify targets; Establish relationships - Increase postings on website, sponsorships

Employment Cmte Recruiter Liaison

SIG Programs (special interest groups)

1 year 2 years 3 years

- Continue Breakfast Before the Bell, Day in the Life, etc. - Use market-segmentation to define/develop additional programs - Evaluate programs; adjust/abandon as needed

Program Managers Programs Committee

Financial Services Cluster Report

(“How can we impact migration of assets?”)

1 year

2 years

- Identify volunteer champion; form subcommittee to review 2010 report and identify ways for society to respond - Reach out to Regional Council of Mayors and others re: local economic development.

Executive Committee Sub-committee


Ongoing: Projects Carried-over from previous plans Some programs and offerings initiated under previous plans are still in progress. Part of our planning process is to continuously review the plan, exiting or adding initiatives as appropriate. Initiatives Timeframe Tasks/Milestones Accountability

Past Presidents Outreach

Ongoing - Initiate contact with past presidents - Hold annual event

Emeritus Directors

CIO Initiative Ongoing - New Sub-Chair meets with minimum 6 CIO’s - Hold min 1 CIO event, with min 4 CIO’s in attendance - 1yr: Attendance by CIO’s to events increases

CIO Sub-Committee Chair Executive Committee

Sponsored Programs 1 year - Identify potential luncheon sponsors - 2-3 lunch sponsor this FY - Continue to work toward revenue neutral programming

Program Committee Sponsorship Coordinator

Executive Director

Vendor Programming

1 year - Identify program manager: Vendor Events Coordinator - Identify vendors who would like to give presentations - Hold 2-3 revenue-generating vendor programs

Vendor Coordinator Program Committee Executive Director

Global IRC 1 year - Recruit judges, mentors, graders, etc. - Increase participating schools to min. 6 - Hold second challenge event in February

Sub-Committee Chair Education Committee

Three-Year Strategic Plan - CFA Institute€¦ · Three-year Strategic Plan, 2011-2014 VISION: We envision a CFA Minnesota that is: Widely recognized, well respected, and highly valued

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