Part 1 – GOVERNANCE

 

SECTION: Financial Administration

 

POL 1-021 Pr

Investments programs

 

Effective date: July 1, 2009

Approval date: May 3, 2009

Last revised: July 1, 2002

Cancelled date:

Reference:  Bylaw III, Bylaw IV Sec.5(C)

BD 10/1998

Cross reference: POL 1-010

 

PROCEDURES

 1.  It is the responsibility of the Board of Directors, based on recommendations provided by the Executive Director and the Director of Finance  working with the committee that oversees financial planning, to set the amount to be used for these purposes.

 

2.   To ensure that the investment policy statements are consistent with the current mission of ARMA, and that they accurately reflect the current financial condition of the Association:

(a)     the Executive Director and the Director of Finance will review the investment policy statements annually with the parent Committee,

(b)     the Executive Director and the parent Committee will make recommendations for any revisions or modifications to the investment policy statements to the Board of Directors. 

 

3.    A registered investment manager will be retained to manage portions of ARMA International  funds, including individually managed accounts and mutual funds (with the exception of money market mutual funds).  From time to time, a new investment manager will be engaged.  In this case, the Executive Director, working with the Director of Finance  will: 

(a)     recommend to the parent committee that an investment manager should be hired or replaced,

(b)     review the candidate(s) and make a recommendation to the Board of Directors, for a final candidate.  The Board has the final approval.

 

 

 

 

 

 

 

 

 

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Questions about previous Policies & Procedures? Contact Connie Hardy, Corporate Secretary.