AIESEC UNSW Finance Award Application July 2009


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AIESEC UNSW Finance Award Application July 2009

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  2. 2. FOREWORD In undertaking our function as the UNSW finance team, we have endeavored to align our goals with the National Plan 08/09 of DOING EXCHANGE. Our raising of 19 EP's contributed approximately 10% of the national goal. We have heavily pushed for exchange through the development and implementation of our tracking system. We have endeavoured to ensure that over 90% of our revenue stems from exchange, hence staying true to core purpose of developing change agents through exchange opportunities with AIESEC. 2
  3. 3. 2008 /2009 2007/2008 EPs Raised 19* 10 EPs Realised 7 4 TNs Raised 1 1** TNs Realised 1 0 CEED from UNSW 1 0 •*4EPs raised in May to be realised in July •**Company backed out after raise 3
  4. 4. 96% 1200% Income Monetary from Finance Driving Growth Exchange Exchange through Rate Driving Quicken Event Exchange Strategies and Growth Finance through Members Tracking looking to go System on exchange at end of year!! 4
  5. 5. 2007/08 saw UNSW establish itself as an LC again , as reflected by the lack of 100% focus on exchange. While OGX was the main income stream, it cannot be said that we focused on exchange with the raising and realisation of only 1EP and the lack of ICX results The first half of 2008/09 saw UNSW fight for survival...and be saved by EXTREMELY strong exchange results. ICX raised a TN and OGX raised 15EPs, keeping the exchange focus strong even in difficult times (our Grants/Sponsorship funding has been minimal and we intend to keep it this way). We also contributed to exchange through the servicing of MC interns, who we have adopted into the UNSW@ family and has greatly contributed to the LC – e.g. Tamas Mihalovits was our Transition Conference Chair % Income from Exchange Growth – 346% Growth Absolute Income from Exchange Growth - $12954.75 OGX Income Growth - $7554.75 (202% Growth) 5
  6. 6. Recruitment (Project Bluebeard) Exchange Information Quicken Event Sessions OGX Careers & Conference / Study Exchange Exchange Expos Subsidies Intern Servicing AIYEP Events 6
  7. 7. In the last year, UNSW has significantly focused upon start-of-semester recruitment as the main EP recruitment drive. Our recruitment campaign, Project Bluebeard, garnered much attention as we covered the campus in blue and X∆. All in all, recruitment has cost us $400 and has brought us 15 EP raises last year. 7
  8. 8. Quicken Event was strategically used, not to promote MTs, but to promote DTs, especially Financial DTs in the Empowering Africa Program. Kai and Auvik talked about the DT opportunities available, especially in Togo (with whom we have established an LC partnership) and out of the 45 non-AIESEC attendees, 43 expressed their interest in our exchange program. 8
  9. 9. UNSW@ has introduced a Rewards and Recognition policy whereby members are nominated by other members for their performance, initiative, leadership and commitment (among other aspects). 7-8 members will be chosen and each will receive $100 redeemable as conference or exchange subsidy. This has motivated members to consider exchange and going to conferences, especially other conferences around the world. 9
  10. 10. Last year, our PBOX (AIYEP) ran 3 successful events on entrepreneurship, conducting business in India and Indian culture. A total of $400 was spent on these events and they not only brought a heightened awareness of Indian culture, but they also promoted exchange to India. 10
  11. 11. Exchange is not just about pre-departure, but is also very much about the experience while on exchange and UNSW@ has invested heavily on intern servicing to make sure that our interns are well looked after and have a quality exchange experience. In the last year, UNSW@ has spent $686.87 on servicing our interns, up from $453.30 in FY2007/08, and this has been instrumental in driving EP growth from UNSW members. 11
  12. 12. UNSW@’s table at Career and Study Exchange Expos were a great strategy to achieve exchange. Over 150 students expressed their interest after talking to us and at least 3 information sessions were held this semester. All this contributed to our raising of 15 EPs last semester and 4EPs this semester with much more to come in semester 2, which is traditionally when students are more interested in exchange. 12
  13. 13. UNSW@’s exchange activities 2008/09 in the past year has been Exchange Income $ 16700.00 highly effective in generating Exchange Events $487.25 the results that we needed. A Expense massive 230% return on investment is a testament to Recruitment $400.00 the fact that while our Intern Servicing $686.87 exchange activities have been Marketing $250.00 cost effective, they have been Expenses greatly successful in communicating our message OGX Expenses $5410.24 of “do X∆” . This high ROI also ICX Expenses $20.00 suggests that UNSW@’s Total $7254.36 profitability, financial sustainability and scope for Return on Investment 230.21% future exchange growth. 13
  14. 14. UNSW@ Finance team’s year can only be described as MASSIVE. From a humble beginning with three members, we currently have seven active members. From a Finance function that was not even doing Finance (let alone exchange!) to being a key driver of exchange, the scope and ability of UNSW@ Finance has rapidly expanded. Exchange is always at the forefront of everything we do. Next year, several in the Finance Team will be going on exchange. On a personal note, I am looking to do an MT, followed by a DT/ET, as well as a CEED opportunity while on study exchange next year. Despite initial setbacks (disbandment, only ≈$1k in bank), Finance, with our unity, drive and dedication, has been able to turn this around by driving exchange activity. We’re definitely looking to build on our successes and are looking forward to next semester’s challenges! Esther Ho 14
  15. 15. My current year in AIESEC has been primarily focussed on attending the development events offered. With Finance on the other hand, I’ve been more focussed on running the QuickBooks events and holding interviews. Finance has offered me so much since I first joint last year. I’ve been able to obtain opportunities in training others, teamwork, problem solving, leading, communicating, allocating, evaluating, as well as liaising with various stakeholders from students, AIESEC members, trainers and sponsors. Daniel Liang 15
  16. 16. As a new member, I think that being a part of the finance team has really allowed me to gain a better understanding of the organisation. The activity that left the deepest impression on me was organising the Quicken Event. As a member of the organising committee shortly after my introduction to AIESEC, I was shocked at the amount of responsibility entrusted to me, a new member. There were complications regarding event location changes. Within hours of the change in plans, our finance team provided a complete turnaround in our planning. I have had an extremely rewarding 2 months, and had the chance to develop my confidence and leadership skills that I have not thought possible in such a short amount of time. I look forward to continuing, and furthering this experience in the years and months to come. Raymond Yiu 16
  17. 17. Joining AIESEC for the first time this year has been nothing but a great experience. As a first year and international student from Malaysia, the idea of entering University for the first time in a foreign land was daunting. But this all changed ever since joining AIESEC. Getting into the Finance team was for me a great achievement. Being the newbie to both the AIESEC Finance team as well as to commerce in general, I’ve picked up so much. Creating Financial Reviews for one was something that I thought required years of education and training to do, and yet I already know the basic idea of it a few months into my first semester. The Finance team has thought me basically that nothing is unachievable or hard to do. Watching my fellow teammates who have been in AIESEC and university far longer than I have has been in a way inspirational and makes me look forward to the next 5years of AIESEC & FINANCE!!! Shamila 17
  18. 18. This year with Finance team has been one of the most rewarding and challenging, learning experience that I have been through. Through helping organise DLD and Quicken Training sessions I have developed a clearer understanding of finance’s role in events management for a large organisation. I am also impressed that as a team we never remain static and constantly redefine Finance’s role in the LC to help enhance its performance. This includes taking the initiative to design tracking systems for each portfolio to allow the portfolio and the LC to evaluate its performance and help them improve if needs be. Ziwen 18
  19. 19. I was very excited when I was chosen to join the AIESEC Finance team in the beginning of the year. It was my first semester overseas and having heard so much about AIESEC back in Auckland it was my ultimate goal to join the big AIESEC family. As a new member this semester I feel that I have been given a lot of opportunities to take on new challenges. Having experienced the Quicken Training event I can definitely see that I have joined a friendly and cohesive team. Our upcoming challenge will be preparing the quarterly review, with the majority of us unfamiliar with Quicken it will take a lot of guidance and mentoring to bring us up from scratch. However, I believe that this challenge will only bring us closer together and let us grow stronger as a team Candy Lau 19
  20. 20. AIESEC Finance for 08-09 has been about securing our current and future financial performances. We came off a financially strong year, and now have aspirations to take on a more holistic role for the LC. I am excited about our current work on a tracking system which incorporates all portfolio’s of the LC which is bringing us into unchartered waters, the potential advantages gained from such a system would rally the whole LC to achieve even greater goals. In additional to these new implementations, we are seeking to ensure that financial skills are instilled into not only a new and upcoming finance team, but the whole LC in general, be that specific Quick Book usage skills, or even knowledge on financial policies. I believe the team this year will be a benchmark for finance teams to come. 20 Richard
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