snc 2015 | finance 2.2

SUMMER NATIONAL CONFERENCE 2015 | SAN JOSE, CALIFORNIA

AIESEC United States Inc.Financial Management Training

Day 2Session 2


Finance role in Peaks!

Winter/Summer Strategies

Team Management

Today we will discuss


Synergy


Synergythe interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

syn·er·gy (sĭn'ər-jē) n


In order to operate, our financial operation must contain other functions

Your LC IS not multiple organizations


Finance is the oversight in the LC to view all operations

AIESEC is not multiple organization


Currently


What we need for big AIESEC


P.A.T.PredictingAssistingTracking

How?


You need to look at your VPs, look at your budget.

What are you NOT meeting in revenue? What does NOT make sense in investment?

i.e. Your LC is lacking OGX (revenue), but you are funneling all your money into “membership development”

Why is this an issue?

Predicting


Now that you know what doesn’t make sense.

Do not overstep your boundaries

“If you want honey, don’t kick the beehive”

Ask them, do they need new investment? Do they need more members?

Each item costs money, be sure to understand the return

Assisting


This comes as a timeline, the more activity your LC has the more you must track

Tracking


August September October November December

Collection Collection Make Bank

Membership/Resource Review

Resource Review

Make Bank

Collection Collection Make Bank

Track EPs with OGX

Track EPs with OGX

Make Bank

Set iGIP Revenue Goal

Review Revenue Collected

Make Bank

Pay Fees

*Never allow adjustments to your goals because you are too scared to fail


MC Recommendation: oGIP/oGCDP Support

Is oGCDP/oGIP is contacting everyone of your applicants? Follow-up NOW MORE THAN EVER

Execution of IXP Strategies

Weekly Financial goal (Convert it into revenue, raise fee is yearlong cash flow, you need to keep recruiting!)


MC Recommendation: Weekly Financial Goal

As finance you must be strict.

Ask your self:1. Are my LC’s goals being met to fulfill my

budget? Why?2. Who is struggling to stay on top of their goals? 3. What is my recommendation?


In 2015, we have around $24,000 uncollected EP fees


MC Recommendation:Track OGX AR

How many EPs do we have?How many have officially paid?

Tell your VPs to get the people to pay


MC Recommendation:Track iGIP

What is my goal for revenue this year? Will it completely pay all of our fees?How much of that is iGIP?What is the minimum number of contract we need?

Are we signing the right contracts?


Activity

What is your LC’s goals for 2015?

If you dont know, what does the goal need to be? -How much do you pay in Affiliation?-How much do you usually spend on

operation?


Activity

How much numbers do you have now? How many of them are actually collected revenue?

Covert that into money

How much are you missing?


Activity

What can you do now?


But what else for Winter?

Resource Reallocation: How many members do my LC have?Break it down.

What will drive winter peak for my LC? OGX/iGIP?

Do I need to reallocate my LC members?

What other resource do I have?


But what about my successor?


Great Question!

50% of your success comes from your successor.


Help predict what you need for the next Peak


How?


Same shit as you did before!


What is your LC’s goals for 2016? -How much do think you’ll pay in Affiliation?-How much do you usually spend on

operation?-What do you think the next team should

invest in?

How much money will you spend?


How much money will you spend?

Where will the money need to come from?

Identify you LC’s focus:iGIP|oGCDP|oGIP

Using the data from this year, assume the same ratio of performance between the 3 functions

How much will each NEED to bring in to cover expense?

#backwardplanning


Finance is not something you are born with.

It stems from passion, experience and skill.

Passion for your people

Experience of understanding what does a failing organization look like

Skill of how you can reallocation/refocus (Consult)


Key Item

If your LC feels like it is Finance’s Job is to get alternate revenue then it’s fine, but never in the history of any organization it is Finance’s job to make money.

They are here to MAKE SURE GOALS HAPPEN(Tracking, Reallocating, Collection)

snc 2015 | finance 2.2

Education

san jose

summer national conference

california synergy

california mc recommendation

california finance role

bank collection collection

ogx revenue

bank track eps