Update on recent changes to Fellowship eligibility
In October, we announced that Fellowship of the ACT would now be open to Associate Members who have worked in a treasury related role for five years or more after completing the Diploma in Treasury Management, have met and continue to meet all the ACT’s CPD requirements, have not been subject to any disciplinary action and who commit to supporting the ACT and the treasury profession in embedding the highest professional standards in treasury.
We have had a positive response from members with around 250 successful applications so far.
The vast majority of applications have been from individuals occupying senior treasury roles, with approximately 70% of applicants falling within the ACT’s competency framework job level definition of ‘strategic’. This reflects the significant levels of experience within our AMCT membership.
My team checks the applications and seeks further clarification on the information provided if anything is unclear, before confirming the award of Fellowship. We have also established a small panel of ACT members who will review any exceptional cases, although our experience so far indicates there will be few such cases.
In terms of our decision to pause the Advanced Diploma qualification, the numbers enrolling (and on completion becoming Fellows) are very small and, sadly, we let you know in October that we are pausing the Advanced Diploma to new entrants as the low numbers (only four in the last cohort) mean it is no longer practical or feasible for the ACT, as a not-for-profit membership organisation, to run the qualification. As this route to Fellowship is now paused, and combined with the fact that 43% of all Fellows are now retired, opening up our highest level of membership to a broader group of experienced treasurers means that we will continue to have a strong and thriving community of Fellows to act as advocates for the profession.
However, this does not detract from the significant achievement of those of you who have completed the Advanced Diploma and demonstrated your skills in treasury management with this master’s level qualification. I know from our conversations that you would like clearer recognition for your qualification and so we will issue an updated Fellowship digital credential to all those who have attained the Advanced Diploma, or its previous equivalent qualifications, with the wording ‘FCT AdvDip’. Those members who have upgraded to Fellow but who do not have the Advanced Diploma will receive a digital badge which states ‘FCT’ only. The digital badge is a very visible and effective way to demonstrate your achievement and can be easily shared, and added to your CV, LinkedIn profile and email signature. The updated badge will be issued early in the New Year.
Thank you for all your support and commitment to the ACT and the treasury profession.
Ria Robinson
Director of Membership & Governance
