2020 Vision: Changes to your Financial Services Faculty
Since its creation in 2007, the Financial Services Faculty has seen incredible change to the industry and has provided members with analysis, insights and guidance to help navigate these changes, as well as their careers.
From the adoption of IFRS 9 Financial Instruments, the advent of the Senior Managers and Certification Regime, the near finalisation of IFRS 17 Insurance Contracts to the standard for providing assurance to the FCA on client assets there has been no end of technical developments for firms to get to grips with.
As we look ahead, IBOR transition, the increased focus on ESG reporting – in particular around climate change and the ways in which businesses are responding to competition – advances in technology and other risks means that impartial, rigorous analysis of issues and practical guidance remains as important as ever. Members need the faculty to be responsive and flexible and we have spent recent months looking at how we can best serve the needs of members both now and in the future.
The Financial Services Faculty covers a matrix of needs across three industries and numerous disciplines, a perfect advert for the variety of work chartered accountants can do throughout their careers. We want to allow members to focus on the issues most relevant to their business and their career. In order to do this we are changing the way members can access the information and support they need through three new industry-focused, digitally-led memberships:
As part of these reforms, the Faculty will also cease publishing FS Focus from December 2019 and will instead invest in creating more bespoke, accessible, engaging and timely digital content.
The new memberships will provide better value for money at £99 per year and offer more tailored resources alongside the industry news and analysis members currently enjoy. We feel this sector-focused approach reflects the reality of both the industry and how you as a Faculty member and other financial services professionals self-identify.
Individual and corporate membership to each of the three new sectors will be available for the 2020 membership and subscriptions run. In the meantime, our current Faculty offering will transition throughout 2019 to reflect these new changes, so you will begin to see the benefits of subscribing to your chosen sector in 2020. You will continue to receive news, insights and analysis directly to
your email address and be able to access our range of guides, fact sheets, reports and webinars online. We welcome any feedback. You can get in touch via firstname.lastname@example.org.