The Essential Company Secretary Skills That You Should Know About
Corporate secretaries are given a big responsibility in handling pertinent business aspects of the companies. Therefore, it is only expected for them to be equipped with the necessary company secretary skills.
As business owners, you should be able to know what the basic qualifications of a corporate secretary. By then, you can choose the right one for your company. You should be patient and careful in picking your corporate secretary because this person can make or break your business.
Here are some things you should look out for in an excellent corporate secretary.
Have a Good Grasp of Laws, Legal Compliance, and Financial Analysis
Having legal knowledge and financial analytic understanding is one of the most important companies secretary skills.
As a corporate secretary, you must ensure that the company is able to address all its legal obligations. This is to avoid exposure to any lawsuit. The company secretary should know the statutory and regulatory requirements mandated by the relevant regulators. These include filing of annual reports, a notice of share transfers, changes in memorandum and articles of association, among others.
Corporate secretaries have the responsibility to study well all the governing laws over companies and the provisions stated therein. If they must consult with legal experts, they have to do so to ensure that the company is not violating any existing regulations.
At the same time, a company secretary should be familiar with finances and interpreting the numbers to know what they mean for the company. This is one of the reasons why public accountants are qualified and hired to be corporate secretaries.
Knowing basic finances can help you evaluate share allotments, financial statements, and tax assessments, among others.
The financial statements are one of the most crucial documentation of a business. These can tell you if you are heading the right track.
This report shows how much assets—like cash, real estate properties, and investment—and liabilities your company has at a given reporting period. At the same time, this itemizes your revenue channels and shows if you are actually earning from your operation.
Corporate secretaries are expected to have a sharp eye when it comes to the details, especially because they are handling a big chunk of the responsibility. They should be in the know of how things are being run and handled in the company.
This is why they should study every aspect of the company such as finance and operations. A diligent corporate secretary should be able to give valuable and immediate advice for the company when necessary.
Being Creative and Assertive
Sometimes, the board of directors have exhausted their ideas and it is the job of the company secretary to always keep the ball rolling. The company secretaries should know to help the board members remain on track.
This can be as simple as facilitating a brainstorming session for any plans they intend to do and even as complex as coming up with different marketing strategies to help attract customers. Apart from these, the corporate secretaries’ creativity is also being put to test when pitching in ideas to keep the board meetings interactive.
At the same time, corporate secretaries should be assertive, especially when making their points during business proceedings and discussion. They should be able to tell the board members their suggestions with firmness, making sure that they will not be swayed by unnecessary factors.
Having the Proper Social and Interpersonal Skills
Corporate secretaries’ social and interpersonal skills are vital as well when executing their duties. Because it is their job to organize meetings, they should be familiar with every member of the company board. Corporate secretaries should be informed of the board member’s backgrounds, may they be about their previous work and educational attainment, among others.
It is valuable to know this basic information because this can help corporate secretaries determine and avoid potential conflicts in the future. At the same time, the corporate secretaries, through various engagements, will be able to know how to approach on a personal and professional level each board member. Corporate secretaries should also know the board members’ different traits and personalities.
Taking Important Notes and Keeping the Records Neatly
Note-taking is one of the most important companies secretary skills. To be able to do this excellently, you must have a sharp mind and focus during board meetings. You should be able to take note of everything of significance to your minutes. Corporate secretaries usually build their momentum after a series of meetings, jotting down the main discussion points and key goals more quickly. It should be noted that the details should be clear and accurate because they can be used as a reference in the future.
It is also the job of company secretaries to keep all the official business documents, including the minutes of the meeting, articles of incorporation, business registration, books, board resolutions, and other filings of the firm. This duty is very important because government agencies are always looking for these documents as part of compliance. Even with this amount of paperwork, the corporate secretaries should still be able to provide the needed documents within the deadline.
Being Able to Organize Agenda During Meetings
Every board meeting, top executives are discussing many business matters and addressing relevant concerns. These officials, before coming to the meeting, have already topics in mind they would like to tackle.
As a corporate secretary, it is your job to know all about these concerns beforehand. This will give you time to organize the points of discussion and give priority on the matters that should be handled first. This will help the board members have a meaningful flow of discussion, making the meeting more efficient.
Having Proper Communication Skills
Corporate secretaries are the line of communication between the shareholders and the top executives. Therefore, they should be equipped with excellent communication skill. You must be able to relay the necessary information to the board of directors and shareholders during the general meetings. At the same time, corporate secretaries should always be open to listening to any issues concerning the company.