Company secretary
Company secretaries are responsible for ensuring that a company complies with standard financial and legal practice and maintains standards of corporate governance. Although they are not strictly required to provide legal advice, company secretaries must have a thorough understanding of the laws that affect their areas of work. They act as a point of communication between the board of directors and company shareholders, reporting in a timely and accurate manner on company procedures and developments.
Public limited companies are legally required to employ a company secretary and most private companies also appoint into the role. Positions can be found across all sectors and in the public sector this role often has the title 'chartered secretary' or simply 'secretary'.
A company secretary's role covers a wide variety of functions and these depend, in part, on the company for which they work. Typical work activities include:
Companies House , the official government register of UK companies, provides a useful overview of the general role of a company secretary, and similar information can be found at Business Link .
The work of a company secretary in a registered company may be more specialised than in a smaller private company. For example, the liaison role with shareholders and compliance responsibilities may make up a major part of the work and may include:
In small businesses, other duties commonly undertaken by company secretaries may include:
Although this area of work is open to graduates in all subjects, the following specialisms may be preferred and can offer some exemptions from the professional examinations:
A good honours degree is helpful when applying to larger firms.
Whilst this area is open to all diplomates, the following HND subjects may increase employment opportunities:
Graduates are preferred by some employers, while others may consider candidates with relevant HND subjects and good personal skills.
A pre-entry postgraduate qualification is not needed, but professional qualifications, particularly the Institute of Chartered Secretaries and Administrators (ICSA) examinations, are essential for public limited company secretaries and strongly advisable for those in private limited companies.
Candidates will need to show evidence of the following:
As most company secretary positions will demand a professional qualification and/or significant professional experience, it is highly unlikely that a recent graduate would have direct entry into the role. Pre-entry experience is therefore desirable and also strongly recommended.
Some graduates qualify as lawyers or accountants with the aim of becoming company secretaries later, while others may consider a full-time diploma course leading to a full or partial ICSA qualification. For the majority, however, formal training in company secretarial work starts after a few years' administrative work experience. Relevant roles may be administrative in nature rather than in name, so suitable experience can be gained in areas such as pensions, personnel, accounts, credit control, purchasing, insurance, sales administration and office management.
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Most company secretaries gain chartered status with the Institute of Chartered Secretaries and Administrators (ICSA) by passing relevant examinations, gaining significant work experience and meeting ICSA criteria.
Replacing the ICSA International Qualifying Scheme (IQS) in June 2011, the ICSA Chartered Secretaries Qualifying Scheme (CSQS) typically takes between one and three years to complete, depending on exemptions based on existing qualifications as well as the number of modules to be studied simultaneously. The modules are:
Anyone may register for the scheme and some companies provide time off and support while studying for the CSQS. Individuals may undertake self-study, part or full-time study at a college or by distance learning supported by on-the-job supervised experience. Another option is full-time attendance on collaborative Masters courses at partner universities and this results in the university's postgraduate award in addition to the ICSA graduate status (GradICSA). Financial assistance for training may be available through the Worshipful Company of Chartered Secretaries and Administrators .
Public limited company secretaries may also gain chartered status with other organisations, namely the:
Opportunities regularly arise for new graduates to train within public limited companies, share registration agencies, charities, local government, the public sector and professional services companies. These are usually open to graduates in any degree subject. Some organisations advertise administrative training schemes for general management trainees, and these types of roles can provide a broad range of experience across several departments.
It is important that company secretaries keep up to date with developments in legislation by reading professional journals, newsletters and other information. Experienced professionals also recommend networking and sharing working practices with other company secretaries, both formally and informally.
Gaining the Institute of Chartered Secretaries and Administrators (ICSA) chartered status is one of the most popular routes to developing a successful career in this area. This requires tenacity and dedication: as well as passing examinations, up to six years of work experience is required for associate level (ACIS) and up to eight years for fellowship level (FCIS).
Support with personal development varies between employers. It is supported by ICSA through a range of resources, as well as workshops, seminars and conferences. These types of events can provide valuable networking opportunities. The institute also organises special interest groups to help professionals in specific sectors share working practices and support each other.
Company secretaries often have access to policy-making processes and confidential information quite early in their careers, which can be excellent training for senior management. They frequently move between industries and geographical mobility is very useful for career development in the early stages. With experience, it is possible to progress to board level or move into a directorate head or department head role. Alternatively, they can set up a business advising clients, act as company secretary for small companies or work as a company formation agent.
Experience as a company secretary can also be a good basis for careers in other areas of administration, finance and law. The competencies and practical experience encompassed by the post of company secretary are a sound basis for a career in many senior positions.
Only public Iimited companies are legally required to appoint a company secretary. However, it is still necessary for private companies to take responsibility for compliance and liaise with regulatory bodies so many continue to appoint a company secretary.
Positions can be found in a wide range of organisations, including:
There are positions with consultancies that provide company secretarial services to companies who outsource this function.
There are also opportunities within the public, voluntary and charity sectors, with local and central government, educational institutions, charities and hospitals. Since their resources come mainly from taxation or public donation, such organisations must ensure that their budgets and resources are well managed.
Check key websites for vacancies in specific sectors:
Vacancies for qualified and, more rarely, for trainee posts are advertised by the Institute of Chartered Secretaries and Administrators (ICSA) in their Chartered Secretary Magazine and also by specialist recruitment agencies including:
Get tips on job hunting, CVs and covering letters and interviews.
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