THE AMInstitute CONTINUING

PROFESSIONAL DEVELOPMENT (CPD) SYSTEM

Responsibility, Recognition, Recording

The Australasian Mutuals Institute (AMInstitute), through its commitment to the excellence, professionalism and integrity of its members, is focused on supporting the continuing enhancement in the professionalism of credit union directors and managers.

A key plank in the drive towards greater industry professionalism is the AMInstitute's Membership Category System and its linkage to Continuing Professional Development (CPD) requirements.  This system of continuing professional development requires members to complete a minimum level of CPD to maintain the membership category that they have attained.  The system encourages an ongoing commitment to professional development in recognition of the challenging business and regulatory environment that directors and managers operate within.  AMInstitute has adopted a minimal regulatory role in monitoring the adherence to the minimum number of CPD hours per annum completed by the three membership categories as set out below: -

Category	Directors' Stream	Managers' Stream
Fellow	30	25
Associate Fellow	25	15
Member	20	10

 

The one regulatory aspect that AMInstitute has retained involves the conduct of a random audit annually via credit unions to verify that Fellows and Associate Fellows are meeting their minimum CPD hour commitments. Such a random audit would be limited to no more than 5 per cent of Fellows and Associate Fellows in any one year.

CPD Points will be awarded based on either the AMInstitute formula or the formula used by other professional associations recognised by AMInstitute as being appropriate to the professional development needs of credit union directors and managers.

• The responsibility for CPD is a three way partnership between the individual member, their organisation and AMInstitute. The Institute does not see its role as interfering with the professional development that takes place within organisations but to assist and complement. AMInstitute will continue to provide professional development and training courses which are constructed and delivered specifically with credit union directors and managers in mind. AMInstitute members will be responsible to ensure that:

1. they meet the minimum annual CPD requirements that are linked to their membership category, and;

2. the recording of their own CPD activity is maintained and kept up-to-date, ideally within the credit union's training register.

•  Recognition - AMInstitute provides guidelines on a formula to assist members meet their commitment to CPD.  The formula covers all courses, workshops/conferences offered by AMInstitute. The AMInstitute formula is based upon three points for each half-day of learning and six points for each full day of learning.

The AMInstitute CPD system includes recognition of CPD conducted with those professional associations deemed relevant to the professional development needs of credit union directors and managers (eg. AICD, AIM, CPA, ICAA, CSA, etc) along with accredited educational activities targeted at the retail financial services industry (eg. Abacus, ABA , Finsia).

AMInstitute recognises that many members, as part of their working commitments, will undertake PD activities, external to AMInstitute and these will assist them in their credit union role and responsibilities - these activities will also be accommodated in the proposed guidelines. CPD points awarded by these organisations will be deemed to have an equal value when included to meet AMInstitute CPD accreditation obligations.

For example, the AICD awards 12 hours CPD accreditation to AICD members attending their 2008 Company Directors' Conference (over 2-3 days), so that any AMInstitute members attending this event will be able to include these 12 hours of accreditation to meet their annual AMInstitute CPD obligations.

AMInstitute will maintain on its website in the section headed Membership a table that allocates CPD points for each educational activity delivered through AMInstitute. This table appears below.

• The guidelines will also acknowledge the necessity of recording CPD hours to ensure that members can meet their CPD commitments. Each credit union will be requested to keep a record of all CPD activity on their training register in a form that will enable the provision of documentation to AMInstitute when conducting a random audit relating to the CPD activity for an AMInstitute Fellow or Associate Fellow in the credit union or building society.

Whilst CPD commitments will be monitored on an annual basis the impact on AMInstitute membership status will be assessed over a triennial basis to provide the flexibility inherent in members balancing their work, professional development, lifestyle and family commitments. Credit Unions and Building Societies will be encouraged by AMInstitute to include a reference to the AMInstitute Membership Categorisation and CPD systems and to determine the desired mix of CPD having regard to a minimum component of structured training/learning.

The CPD system has sufficient flexibility to cover the differing circumstances of both directors and managers and their varying educational and professional development needs. Furthermore, the system has sufficient scope and flexibility to include the educational and professional development offerings from a wide range of accredited organisations, especially the various professional institutes.

CPD Hours / Points Table Standard Formula Table

1. Training Courses / Workshops / Forum / Programs / Ongoing Professional Development

    Programs Click here for details