VOLUNTEER REPORT
The value of volunteering
Michael Gould joined the IMC panel at the beginning of the year
and has been a member of the society since 2005. He has been at
Russell Investments for two and a half years and is now the
director of international compliance
role is and how I would be a great deal of time. It fi nd I have to consider other
able to contribute. averages out at four or fi ve areas of the industry. It forces
I consider it a good thing hours a month, which I don’t me to refocus my learning
to do and an opportunity to think is excessive. and forces me to keep up to
put something back into the date with new developments.
industry after working in it What would you like the It’s made up of a selection
for over 20 years. panel to focus on in future? of interesting people from
The IMC is a critically across the investment
What projects have you been important exam and it has management profession and I
involved in? become the industry appreciate the opportunity to
I’ve helped review sections of standard. It’s important to sit down with other people in
the offi cial training manual, maintain that high standard the industry.
signed off quarterly exam and to ensure it remains a Although we all have our
questions and approved new requirement of the profession. own areas of expertise, we all
questions written by the We have to ensure questions discuss topics together. So a
academic advisers. are always valid and ensure fund manager will chip in
I was directly involved in we make amendments when with comments on compliance
Michael Gould
the implementation of the things change. and accountants will chip in
MiFID directive into the We should focus on with economic issues.
Why did you join CFA UK’s syllabus and the offi cial keeping to the standards we It’s interesting to have an
IMC panel? training manual. It has had have set for ourselves. We all round discussion of the
I was approached by a quite a big impact on the need to continue to provide industry, and after the
panel member who deals rules and regulations section the benchmark exam for the meeting we often pop out and
with the same area as I do. of the exam and it took a lot industry and ensure that it have a drink together. It’s a
He explained what’s of work to bring things continues to be seen as a good networking opportunity.
involved and said he would up-to-date. benchmark.
welcome another We had a review from How long have you held the
compliance expert joining How much of your time do OfQual, the UK regulator of IMC and how has it helped
the panel. you have to spend on panel professional qualifi cations. It you in your career?
He was eager for me to work? was a good review and they I took it about six years ago. I
get involved partly for It comes in bursts. If I have a are quite happy with the way took it after I moved from the
when he’s not able to attend lot of questions to review it things are being run. It’s FSA to an asset management
meetings and partly so that can take up an afternoon. It’s important to get that kind of fi rm. As a compliance offi cer
there was another important to look at feedback I was forever requiring other
compliance expert to give questions carefully to make people to take it, so I thought
input to the panel. sure they are correct – it could What do you gain from I should take it too.
I sat down with Peter be a serious mistake if you participating in the panel? The regulator doesn’t require
Watkins and talked over sign off something that isn’t I fi nd it extremely interesting. compliance offi cers to take
what’s involved and he accurate. Having been in compliance any exams, but it’s good to
explained what the panel’s Overall it doesn’t take up and regulation for a while I say I have the IMC.
WWW.CFAUK.ORG PROFESSIONAL INVESTOR 51
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