Board takes next major step toward implementation of the Alliance’s new business model…
In case you missed yesterday’s Board Bulletin, the Alliance’s Board of Directors took a major step in the process of implementing the organization’s new business model by voting unanimously to retain NAMIC Services Corporation (NSC) as the Alliance’s association management company effective January 1, 2019.
The Board’s decision comes after a two-year strategic planning process in which the Board took a hard look at the future of the Alliance and the fraternal movement. This involved examining the external environment in which members operate, including changes to the financial services marketplace, consumer needs and expectations, competition from both traditional and unexpected sources, and an increasingly complex regulatory climate. We “started with why” by taking an objective look at what the Alliance’s most important functions were and by deciding how the organization could best serve its members. It was a painstaking – and sometimes painful – process but one that had to be done for one compelling reason: the CEO and Board members knew that the status quo was not economically sustainable for more than a few years and that a new organizational model had to be put in place.
The Board determined that the Alliance’s “why” – the primary reason for the organization’s existence and the one benefit that every member needed and that no member could obtain on its own – was effective political advocacy at the state and federal level. Not that the Alliance has been remiss in delivering meaningful results in the advocacy arena; enactment of the small company exemption for PBR, defeat of two state measures that would have repealed the fraternal exemption, and passage of the federal tax reform act without one mention of amendments to the fraternal exemption are all shining examples of the Alliance’s recent advocacy initiatives. But the Board understood that continued success will require additional resources and a reallocation of the Alliance’s limited resources.
At the same time, the Board felt it was extremely important to keep in place the “connective tissue” that binds members together – in-person and online educational programs and networking opportunities – as well as the fraternal-specific information services on topics from corporate governance to compliance with newly enacted regulation and legislation. And so the new business model continues the Alliance’s two most important conferences – the Executive Summit and Spring Symposium – and relies more heavily on technology, such as online social networks and web-based information services to keep members connected. In addition, the Alliance will explore strategic partnerships with other trade groups, both inside and outside the financial services sector, to offer members new educational and networking opportunities.
Please review the Board Bulletin to learn more about the factors that drove the Board to overhaul the Alliance’s business model, the objectives that guided the Board’s action, and the reasons the Board selected NSC as its association management partner. The Bulletin will also give you a preview of what you can expect from the Alliance during the transition process. Please don’t be shy about expressing your views on the Board’s decision or the Alliance’s direction. This issue will be discussed with member society executives attending the Alliance’s Executive Summit in Washington, DC later this month, but we want to hear from representatives of all member societies, from the C-suite to the field, about these developments. Post a comment here or email me at firstname.lastname@example.org.
August 13, 2018
August 06, 2018