IAM feature Transform22 The IAM has been given a mandate to press ahead with plans that will transform the way we operate. Jodie Williamson, Professional Development and Membership Manager, looks in detail at the changes that are coming On Tuesday 21 June 2022, at an Extraordinary General Meeting (EGM) of the IAM, voting members (Members and Fellows) of the Institute voted unanimously in favour of an ordinary resolution to give the Institute a mandate to progress with Transform22 proposals. This was supported by an expression of preference from Associate Members and Life Fellows. What is Transform22? Transform22 is a global IAM transformation programme designed to create added value for our membership and enhance local networks and services. It will give our global Chapters the autonomy to drive member services locally within a common global framework. In addition, it will refocus our core efforts to continue developing knowledge and promote the discipline of asset management. Transform22 will allow us to build on what we currently have to provide more access to knowledge not only for members, but also for the benefit of the public. Author bio Jodie Williamson is Professional Development and Membership Manager at the IAM. She was previously Professional Development Lead at the Royal Pharmaceutical Society. Why do we need to change? This change has been driven by our members. We have had feedback from Individual and Corporate Members, Chapter leadership teams, What will Transform22 mean for me? and Patrons about several areas that need to change. Chapters, Individual Members and Corporate Members Under the Transform22 model, members will join a Chapter based on where Here are just some of the things we have heard: they live, and they will pay their membership fee directly to that Chapter. Put members first and foremost through a local focus and Where there isnt a Chapter, members will join a newly established Rest of local activities the World Chapter, which will also support the formation of new Chapters. Let me communicate with someone in my local language As they do today, Chapters can choose to add a levy to the Let me join my local Chapter and pay in my own currency membership fee to cover additional member benefits in that Chapter. As a Patron, I want physical local meetings and virtual They will retain the money raised from membership fees, Chapter activities, global engagement and Chapter sponsorship, and will pay the IAM Centre a recharge fee for Let us grow the number of members by giving us more autonomy each of their members. Knowledge development A key area for the Transform22 programme is to increase knowledge development, ensuring knowledge is developed and available to those who need it far more quickly, and in an easily consumable format. This will require us to develop more dynamic knowledge-development processes, supported by digital tools. Transform22 will allow us to build on what we currently have, to provide more access to knowledge not only for members, but also for the benefit of the public Volunteer Committees and Boards Those that need to be global will remain global; however, all others will become local, with Chapters deciding how to take them forward. Examples of global groups that will remain global are: Examinations Board, Registration Board Faculty, Knowledge Leadership Group, Membership Key knowledge work programmes for example, Climate Emergency, Digital, Maturity Inclusion Group Local groups, such as NxtGen, will have the opportunity to share best practices informally with other similar Chapter groups. IAM Centre The IAM Centre will provide a common global framework within which Chapters will operate. Knowledge will be owned centrally so it can be available to everyone across the Institute. This includes knowledge that is generated in a Chapter. Translations will be coordinated through the IAM Centre, in conjunction with Chapters and volunteers (as they are today). Criteria for advanced membership grades (for example, MIAM, FIAM) will be held by the IAM Centre and members wishing to apply for these grades will continue to apply through the IAM Centre. Similarly, criteria for Asset Management Professional status will be held by the IAM Centre, and those wishing to apply will continue to do so through the IAM Centre. Exam syllabuses and success criteria, as well as administering the exam process, will continue to be managed through the IAM Centre. In addition, endorsement and recognition programme criteria (for example, Endorsed Assessor, Endorsed Training Provider), as well as administration of the process, will continue to be through the IAM Centre. The IAM Centre will continue to support global conferences, professional development workshops, global IAM Asset Management Excellence Awards, Assets magazine, global communications, and so on. What will happen to the Board and Council? The Transform22 steering group has reviewed the structure of the Board and Council to determine whether changes are needed as part of the programme. They have determined that the Board will remain unchanged, and the process for Board elections will not need to change. However, they felt that the structure of the Council would need to change, and have consulted existing Council members to determine the new structure. Moving forward, IAM Council will consist of: Two elected representatives from each Chapter One elected from the Chapter leadership team One elected from the Chapter members, representing Individual and Corporate members from that Chapter Chapters will hold their own elections for these two representatives Four elected representatives from Patrons (as it is today) Patrons will hold their own elections for these representatives (as they do today). I want to know more about Transform22 who should I contact? You can find out more about Transform22 by contacting Jodie Williamson or watch out for related news on our website. All elected members of Council will have voting rights (currently, Chapter and NxtGen representatives are ex-officio members). The Council will continue to be chaired by the IAM President, and there will still be an option to co-opt members to support the Council. How will the Council transition to the new structure? During the transitional period, there will be no Council elections (usually held at the AGM), but existing members who are due to step down at the 2022 AGM will be asked if they wish to remain on the Council and will be co-opted for one year. Chapters will vote at their next AGM to select their two representatives, who will join Council in lieu of the current co-opted Chapter representative. It is anticipated that the transitional period will take approximately one year. Will other changes be needed to implement Transform22? We need to undertake significant work to implement Transform22. Through that process, it is likely that we will have to make changes to our articles, by-laws and other key governance documents, and well take the relevant steps to make these changes as they become necessary. Well engage locally and globally with Individual, Corporate, and Patron members on these changes, as appropriate. Ordinary resolution passed at the EGM Provided that the Board, having taken steps to ascertain the preference of Associate Members and Life Fellows, is satisfied that the majority of Associate Members and Life Fellows expressing a preference is supportive of the implementation of the Transform22 proposals, the Voting Members of the Company resolve to give the Board, CEO, Chapters, Council and Patrons a general mandate to pursue the implementation of the Transform22 proposals, subject to, where necessary, changing the articles, by-laws and key governance documents of the company in accordance with those articles, by-laws and the general law. This resolution will remain in place unless revoked at an EGM or an AGM.
