Your SlideShare is downloading. ×

AIESEC UNSW Reckon Finance Award

762

Published on

Published in: Business, Education
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
762
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide
  • AIESEC UNAND in IndonesiaAIESEC UPD in the PhilippinesAIESEC LEGON in Ghana
  • Transcript

    • 1. Reckon Finance AwardAIESEC UNSW
      AIESEC Australia July National Conference 2011
    • 2. OVERVIEW
      In 2011, the focus in Finance has been on increasing the involvement of all portfolios in order to create synergies within AIESEC UNSW. All policies and initiatives have been designed with this in mind, which has resulted in exceptional performance within the Local Committee.
    • 3. EXCHANGE
    • 4. OGX RESULTS AND PIPELINE IN 2011
      In the Semester 1 of 2011, OGX has:
      Successfully organised 2 MRB preparation sessions and MRBs within the budget;
      Raised 14 EPs
      Looking at 3 EP Realisationsby July
      Approaching final stages of LC-LC partnerships
      • WENA – 1 partnership
      • 5. CEE – 3 partnerships
      • 6. Africa – 3 partnerships
      • 7. AP – 4 partnerships
    • ICX RESULTS AND PIPELINE IN 2011
    • 8. LEADERSHIP ROLES
    • 9. RTF Leader for O-Week in Semester 1 – Jody Wong
      RTF Leader for O-Week in Semester 2 – Delia Deng
      OGX Events Management Team Leader – Trisha Shastri
      ICX Partnership Delivery Manager – Tammy Sivakumar
      May Presidents’ Meeting OCP – KacyLok
      ICX Regional Cocktail Event OCP – Anna Moltchanski
      MaC Leadership Event OCP – Raymond Su
      LEADERSHIP ROLES
      In 2011, AIESEC UNSW is aiming to achieve a minimum of 14 leadership roles including 7 executive board positions. The following non-EB leadership positions have been realisedthis year:
    • 10. EVENTS MANAGEMENT TEAM
      Overview
      This year marks the introduction of OGX’s new Events Management Team (EMT), which will take on the responsibility of MRB and events organisation. This has opened up a leadership position, called the EMT Leader, who will be facilitating the entire team and its processes.
      Aims:
      to reduce costs of running events as a result of specialisation;
      to contribute to TM’s X+L goal
      synergy between TM and OGX
      to relieve logistical stress and pressure from the two parent portfolios
    • 11. PARTNERSHIP DELIVERY TEAM
      Overview
      With the growth in ICX activity and re-raises with Google, anew Partnership Delivery Team has been introduced. This team is responsible foradministrative tasks and intern servicing. This has opened up a leadership position, called the Partnership Delivery Manager, who will be facilitating the entire team and its processes.
      Aims:
      • to improve efficiency of ICX matching & realisation;
      • 12. to relieve logistical stress and pressure from the parent portfolio
    • FINANCIAL POLICIES & PROCESSES
    • 13. A wiki profile of UNSW FINANCEhas been created and is continually updated. From this website, people can have a clear picture of who we are, what we do and how Finance in AIESEC UNSW works.
      Contents include:
      • Profile of UNSW’s Finance team
      • 14. Finance’s performance/accomplishment update
      • 15. Financial policies
      • 16. Streamlined reimbursement process using Google Docs;
      • 17. Members who need to reclaim money must fill in this form online;
      • 18. Easily and accurately allows transactions to be cross-checked and processed
      FINANCE WIKI & STONG PROCESSES
    • 19. BUDGET REPORT
      Finance has collated and written up budget reports for each portfolio within the LC.
      This report shows:
      the composition of each portfolio’s revenuesandexpenses,
      their relative and absolute size, and
      when they occur throughout the year.
      It aims to:
      facilitate each portfolio’s understanding of their own financialoperations,
      provide knowledge of their financial imprint on our LC as a whole, and
      increase the inter-portfolio awareness of each portfolio’s operations
    • 20. Purpose:To take a proactive approach towards tracking the finances and overall performance of each portfolio to create synergy within UNSW. This is designed to:
      • Increase lines of communication
      • 21. Provide greater understanding and support of goals
      • 22. Creating synergies within the LC
      How it works: Each member of Finance ‘tracks’ an assigned portfolio through:
      • Attending the assigned team’s meetings
      • 23. Having knowledge of team goals and KPIs
      • 24. Liaising closely with directors
      PORTFOLIO TRACKING
    • 25. TRACKING OVERVIEW
      This year Finance aims to make portfolios in the LC more connected through tracking their activities and budget on a weekly basis.
    • 26. Purpose: To objectively report on the progress of teams in terms of financial and non-financial measures. This is to consolidate the strategy of Portfolio Tracking, ensuring continuous strong performance through:
      • Acknowledgement of success
      • 27. Recommendations on areas of improvement
      How it works: Closely linked to portfolio tracking. Use information gathered to comment on:
      • Budgetary alignment
      • 28. Goals and KPI alignment
      MONTHLY REPORTS
    • 29. REWARDS & RECOGNITION STRATEGY
      A Rewards and Recognition Strategy has been developed to motivate individual portfolios and the LC to achieve their goals/KPIs and help drive and sustain performance throughout the year. Performance is consistently monitored and measured in relation to these initiatives.
      The purpose of the RnR strategies for the Exchange portfolios is to reward the portfolios’ revenue generating activities (i.e. raising EPs and TNs) whilst recognizing their collaborations with FN on budgeting their expenses.
      A large portion of the Strategy is designed to magnify the synergy of all the portfolios, encouraging cohesive practices and cooperation to produce optimal results.
    • 30. R&R Strategy – Exchange
    • 31. R&R – Support Functions
    • 32. SPONSORSHIP & GRANTS
    • 33. In 2011, AIESEC UNSW has continued to ensure a strong partnership with STA Travel. This has resulted in many benefits for the LC, including:
      Reimbursements for all marketing material with STA Travel’s logo:
      O-Week Printing and Marketing
      Material for Careers Expos
      Material for Information Sessions and Information Stalls
      This has resulted in savings of $450 in 2011.
      Provision of discount flight vouchers for EPs to go on Exchange
      SPONSORSHIP DEVELOPMENT
    • 34. Marketing & Communication
      Finance Synergy
      FN’s close relationship with STA Travel enables our LC to receive reimbursements from printing brochures and posters.
    • 35. GRANT INITIATIVES
      In 2011, Finance has applied for grants to:
      the Australian School of Business (ASB), and
      the City of Sydney Council (potential $5000)
      We have received grants, in total of:
      $760for the ASB Student Society grant, and
      $750for the ASB Competition grant,
      amounting to a total of $1510.
       
      The Competition grant funding will be rewarded to high achieving LC members to subsidise either July Con 2011, Jan Con 2012or exchange in 2011. Finance will be looking to apply for grants from other facultiesin the near future.
    • 36. STRONG FINANCIALS
    • 37. $24,650 LC cash-at-bank:
      • $10,000 placed in a high-interest Term Deposit
      • 38. $8,320 placed in a high-interest Savings Account
      • 39. $6,330 placed in an everyday Transaction Account
      94 % income generated through exchange in FY10/11:
      • Strong exchange results.
      5 % income generated through Sponsorships/Grants in FY10/11:
      • New role of the Finance portfolio has been to look for sponsorship and grant opportunities as a means of diversifying AIESEC UNSW’s revenue base
      LC SUSTAINABILITY
    • 40. Revenue of $37,140 for FY 10/11:
      • Revenue $7,185 for the year 2011.
      94% of revenue generated through exchange:
      • 29% from ICX.
      • 41. 65% from OGX.
      A surplus of $10,990 was generated in FY10/11:
      • A surplus of $707 was generated for 2011.
      REVENUES AND SURPLUS
    • 42. BUDGET VS. ACTUALS
    • 43. INVESTMENT STRATEGIES
    • 44. An exchange subsidy was provided to 4 high-performing members in the LC, which has been beneficial as it contributed to 2 X+Ls:
      Annie Tan, VP OGX
      ChristaniaTanuwidjaya, RTF leader & OCP SPM
      In 2011, this exchange subsidy will be redesigned as an Exchange Scholarship Fund, in which members will be able to apply and be awarded based on performance.
      • Returned EPs who received the subsidy helped promote exchange opportunities for AIESEC UNSW
      • 45. Members were encouraged to go on exchange
      • 46. High-performing members who have hit their KPIs were rewarded
      Other investments in exchange:
      Investment in substantive “Aussie Packs” to maintain strong relations with EPs.
      INVESTMENTS IN EXCHANGE
    • 47. INVESTMENT IN CORPORATE RELATIONS
      • ICX will be holding a regional networking cocktail event for all potential business partners and current sponsors in 2011.
      • 48. Purpose: To consolidate the current partnerships with AIESEC in the NSW region and promote the creation of new partnerships.
      • 49. There will be an OCP and a finance coordinator who will work closely with Finance on the budget.
    • INVESTMENTS IN MARKETING: SELLING BEE
      Purpose: To encourage members to actively market and increase awareness of AIESEC, our aims and to facilitate exchange by raising EPs.
      How it works: Points are allocated by participating in various methods to promote AIESEC around university:
      • E.g. info stalls, info sessions, lecture bashes
      • 50. The team with the highest tally will receive a reward for their efforts
      Aligns to criteria: Supports LC performance by :
      • Assisting the fulfillment of goals, especially raising EPs
      • 51. Increasing the brand awareness of AIESEC UNSW
      • 52. Developing the soft skills of members
    • INVESTMENTS IN MARKETING: PROMOTIONAL MATERIALS
      These are the materials used by AIESEC UNSW in 2011:
      Mini-Postcards we give to students promoting some of the destinations possible with AIESEC
      Posters used to attract students at our information tables and campaign sessions
      Brochures to highlight the projects offered by OGX and the application process through our website
      FN has been working closely with STA Travel and MaC to create cost effective promotional materials
    • 53. The Competition grant of $750 received from the Australian School of Business will be invested in AIESEC UNSW in rewarding members for exceptional performance in the LC.
      This will be awarded during NSW’s Regional Rewards & Recognition Night to:
      The highest performing member from each portfolio
      The highest performing Executive Board member
      The most valuable member of the LC
      Distribution of Reward:
      Subsidy for attending July National Conference 2011
      Subsidy for attending January National Conference 2012
      Subsidy for going on Exchange in 2011
      INVESTMENTS IN MEMBERS
    • 54. Purpose:The LCD fund aims to invest in the AIESEC UNSW’s capacity and provides an opportunity for individual portfolios to formulate strategies that will benefit the LC in improving processes, particularly in driving exchange or leadership roles.
      Function:
      • Aim to collect ideas that would benefit the entire LC (i.e. barbeque on campus to enhance our reputation; seminars conducted by professionals for LC members)
      • 55. Applications will be screened from the perspective of its practicability and benefit
      • 56. Up to $150 is allocated to fund the best action plan
      LOCAL COMMITTEE DEVELOPMENT FUND

    ×