What do Company Secretaries do?

A Company Secretary would typically need to:

• Report to the chairman and frequently communicate with board members; plan and prepare agendas and materials for board meetings, annual general meetings (AGMs), and committee meetings.
• As needed, contribute to meeting discussions. take minutes, draught decisions, and file the necessary paperwork and annual returns with the appropriate authorities to follow up on meeting actions
• Oversee policies, ensuring they are up to date, and send them to the relevant committee for approval; keep statutory books, including member, director, and secretary registers.
• Handle correspondence, gather information, and create reports, ensuring that decisions are communicated to the appropriate company stakeholders.
• Inform members of the legal, governance, accounting, and tax departments on the potential consequences of proposed policies.
• Understand the rules that apply to their line of work thoroughly; monitor changes in relevant legislation and the regulatory environment to take appropriate action
• Create and manage the systems that ensure the organisation complies with all applicable codes as well as its legal and regulatory obligations.
• Manage office space and property issues, such as supervising and renewing insurance coverage for equipment, premises, and personnel.
• Handle personnel administration and assume responsibility for employee health and safety; oversee the administration of the company’s pension plan, which may be required in some smaller businesses.
• Liaise with external regulators and advisers like lawyers and auditors, as well as enter into contractual agreements with suppliers and customers; manage public relations and financial management issues.
• Participate in share issues, mergers, and takeovers; pay dividends, administer share option plans, and keep a shareholder register; keep track of changes in share ownership in a publicly traded corporation

Standard Work Environment

A Company Secretary’s job is primarily office-based. Company Secretaries can find work in most major towns and cities, though blue-chip corporations prefer to hire in larger cities.

Depending on your region, industry, firm size, and kind, some travel during the working day and overnight absence from home may be required, especially for larger organisations with subsidiaries or several sites. Unless you work for a multinational corporation, working or travelling abroad is unusual. The dress code would be as set by the employer, which is often professional business attire in neutral colours.

Work Schedule

Office hours for company secretaries are usually set. Longer hours may be required to allow lengthy meetings and complete reports, such as the company’s annual report, for regulatory deadlines. A part-time job is an option.

Employers

Company Secretaries work in a variety of settings, including the private, public, and non-profit sectors. They could also work for a company that provides company secretarial services to companies who outsource this job, or as lone practitioners or in a small partnership.

Company Secretaries are generally employed by:

• Accountancy & Solicitors’ Firms
• Banks & Building Societies
• Charities & Hospitals
• Educational Institutions
• Employers’ Cooperatives
• Housing Associations
• Insurance Companies
• Investment Trusts
• Central & Local Governments
• Trade Bodies

Unions / Professional Organisations

Professional groups and organisations are an invaluable resource for people seeking professional development or seeking to interact with other professionals in their industry or employment. Membership in one or more of these organisations looks great on your resume and helps to strengthen your credentials and qualifications as a Company Secretary.

Workplace Challenges

• A strong understanding of the business along with a thorough grasp of company-specific reporting obligations
• Pertinent, discerning knowledge and appreciation of board members, a precise understanding of your place on the board and excellent rapport with your Chair
• Maintaining synchronized relationships between the board, management and shareholders despite blurred reporting lines between executive management and the board
• Ensuring board meetings are kept clear, concise, and cohesive through well-prepared board information and recording minutes per the board’s expectations
• Providing timely and accurate information is forthcoming from the management

Suggested Work Experience

An aspirant Company Secretary must have prior professional administrative or commercial job experience in accounting, insurance, office management, credit control, pensions, personnel, purchasing, and sales administration.

Corporate and Company Secretary professional organisations provide certain continuing education seminars and courses, as well as introductory training for people interested in entry-level Company Secretary roles. Most organisation Secretaries have at least ten years of experience in the area, and many are promoted from other management roles within the organisation.

Recommended Qualifications of Company Secretary

A graduate degree in accounting and finance, business and management, law, or information technology (IT) is preferred and may qualify for exemptions from professional tests. Some graduates pursue careers as lawyers or accountants before becoming Company Secretaries.

School graduates can also become chartered company secretaries by studying for and passing all of the Institute of Chartered Secretaries and Administrators (ICSA) examination modules.

Certifications, Licenses and Registration

Professional qualifications, specifically the Institute of Chartered Secretaries and Administrators (ICSA) tests that lead to the title ‘Chartered Secretary,’ are required for public limited Company Secretaries. It is also strongly recommended for those who own private limited firms.

Voluntary certification from an objective, reliable, and reputable organisation is frequently viewed as evidence of an individual’s drive and motivation, providing them with an advantage in promotions and increases.

By examining individuals who violate the program’s Code of Ethics, successful certification programmes serve and defend the public welfare. They contribute to the future of a profession by gaining trust and respect.

Projected Career Map of Company Secretary

The Chartered Secretary reports to a company’s highest management, and many Company Secretaries stay in their positions for the rest of their careers. Geographic mobility can be beneficial to career development, especially in the early years.

With time and expertise, they may be able to advance to higher-level management or Vice President roles within their organisation. You might also start a business advising customers or act as a Company Formation Agent.

Obtaining chartered status with ICSA is one of the most popular paths to a successful career as a Company Secretary, and it demands perseverance and commitment.

Job Prospects

As legal requirements for firms become more stringent on several levels, a Company Secretary with knowledge of industry regulations and best practices is becoming increasingly important.

Beneficial Professional Development of Company Secretary

The ICSA Chartered Secretaries Qualifying Scheme (CSQS) is used by the majority of Company Secretaries to get chartered status. Anyone may sign up for the scheme, and some employers offer time off and support while students. Self-study, part-time or full-time education at a college, or remote learning backed by on-the-job supervised experience are all options.

Employers provide varying levels of career development assistance. ICSA provides assistance through a variety of tools, workshops, seminars, conferences, and special interest groups, allowing experts in certain fields to discuss and support one another. The general public is restricted. Other organisations may grant chartered status to Chartered Secretaries.

Throughout your career, you must stay up with legislative developments by reading professional publications and bulletins. It is also encouraged to network with and share working practices with other Company Secretaries, both formally and informally.

Conclusion of Company Secretary

A Company Secretary connects the boardroom with the executive. It is a privileged position to occupy, frequently serving as a vital link between the most powerful portions of the organisation and the actual doers. Do not be scared to suggest creative solutions and forward-thinking ideas. Company Secretaries are extremely successful due to their ingenuity. You are not only concerned with compliance!

Advice from the Wise

When you use consistent terminology, it is easier to find all of the information about a subject. Calling a spade a spade every time eliminates the possibility of missing important information since it is also known as a shovel or digging equipment.

Explore Also: How to Become a Chief Revenue Officer