Best Practices: Professional Advisory Board

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Best Practices ProfessionalAdvisory Board

• University of New Mexico
• Theta Xi Chapter
• Steven Silva Christina Moore

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Why have an Advisory Board?

• Officers want more input into how to successfully
  direct the chapters activities
• Current professionals want to promote community
  and professional involvement into upcoming young
  professionals this goal is shared by the
  officers
• Faculty want to know about chapter activities to
  pass information to their classes also want to
  promote financial information professions

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Who is involved?

• Beta Alpha Psi, Theta Xi chapter
• Alumni of Beta Alpha Psi
• Professionals in the New Mexico area
• Faculty and administration from the University of
  New Mexico

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Advisory Board Goals

• Provide guidance and direction for chapter
  activities
• Offer suggestions for community service events
• Brainstorm new ideas for fundraising
• Planning new recruiting techniques and ways to
  keep active members involved
• Stimulate interest among alumni and young
  professionals
• Review of semester activities
• Information sharing between chapter, faculty and
  professionals

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Advisory Board Meetings

• 1st meeting 1 to 2 weeks before classes begin
  (August)
• Inform board of planned activities
• Get input on additional community and
  professional events
• Establish overall chapter goals
• 2nd meeting 1 to 2 weeks before classes end
  (April)
• Review of annual activities
• Review of budget variances
• Introduction of new officers

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Selection of Advisory Board

• Officers nominate individuals based on their
  affiliations and interest in the board
• Two individuals from firms are selected to ensure
  their firms presence at advisory board meetings
• One individual from local professional
  organizations is nominated to get different
  perspectives
• Faculty are selected based on availability and
  interest
• Past presidents and alumni are also recruited to
  encourage continued involvement past graduation

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Alumni Liaison

• Looked at local alumni who were past officers and
  are still active in Beta Alpha Psi
• Purpose of the position is to create a stronger
  bond between the advisory board and the chapter
• Better two way communication professionals/alumn
  i know whats going on officers get suggestions
  from professionals/alumni

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Cost of Program

• No cost for program
• Handouts for advisory board are optional and have
  minimal cost

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Current Advisory Board

• Professional Members
• Jason Deshayes, Neff Ricci, LLP/BAP Past
  President
• Yvonne Deshayes, Los Alamos National Laboratory
• Elizabeth Gitajn, Albuquerque Chapter of CPAs
• David Gifford, Grant Thornton
• Brandon Haines, Meyners Co.
• Barbara Lewis, Atkinson Co.
• Kim Nunley, Grant Thornton
• Ann Rippberger, REDW
• Stella Saindon, Tricore Reference Labs/Chapter
  Founder
• Ronald Schranz, Burt Nagel
• Dennis Sterosky, Pulakos Alongi

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Current Advisory Board

• Professional Members
• Marlena Torres, ALPFA
• Sara Traub, Pulakos Alongi
• Fred Winter, KPMG
• Vikki Sanchez, Neff Ricci/BAP Past Treasurer
• Faculty Administration Members
• Deborah Bower, UNM
• Ann Brooks, UNM Acct. Dept./ Chapter Founder
• Dr. Alistair Preston, Chair of Accounting
  Department
• Dr. Craig White, Chapter Advisor
• Dr. Joni Young, UNM Acct. Department
• - Signifies alumni member

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Impact of Advisory Board

• Increased community involvement
• Chapter has a stronger connection to statewide
  network of professionals
• Improved alumni involvement
• Chapter more successful in year-long planning and
  recruiting efforts
• Professionals more actively involved, rather than
  just financial supporting chapter
• Chapter members more connected to faculty and
  professionals

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Adaptability Challenges

• Very easily adaptable
• May be more difficult for chapters who do not
  have many financial information professionals or
  alumni in area
• Will have to rely more heavily on faculty
  involvement
• May be more difficult if professionals are
  limited to their involvement due to other
  obligations (ex large firm that cannot dedicate
  all of its time to one school in the area)
• In these cases, alumni involvement is critical
  for success

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Three Keys to Success

• Support from faculty advisor
• Faculty advisor can provide direction to
  establishing a core group of active advisory
  board members
• Communication Infrastructure
• E-mail lists
• Phone lists
• Documented procedures
• Appreciate the input of Advisory Board
• While not all suggestions can be implemented,

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Conclusion

• Input from the Advisory Board has increased the
  chapters involvement in the community and
  financial information profession
• Alumni relations are stronger than they have been
  in past years
• Chapter activities are planned better and have
  higher attendance

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Questions?