When an important document needs to be retrieved, when notes from a high-profile discussion need to be taken, when critical business reports need to be prepared, it is often the corporate secretary who is summoned to do the job.
A corporate secretary holds an important and challenging role in any company. Aside from the critical role of accurate and diligent record keeping, the corporate secretary also ensures that information that is integral to the decisions surrounding the business is reliably available whenever it is needed.
But that’s not all. The role of a corporate secretary is so important that there is a long list of reasons why a company simply cannot do without one. Below are examples of things only an excellent corporate secretary can do which will highlight the many reasons a corporate secretary’s job isn’t easy.
Hereby are the 7 Things Only An Excellent Corporate Secretary Can Do
1. Having to understand the nature of the business
A corporate secretary is involved in the company from its initial founding and all throughout its years of operations. A corporate secretary helps prepare the requirements for the company’s incorporation and ensures that the business is always compliant with regulatory requirements. Compliance is a crucial deliverable from a corporate secretary because a company could face serious penalties or could be ordered to cease operations if they are not compliant with government regulations.
2. Having to build rapport with each member of board of director
A people-person who is instinctive and proactive, the corporate secretary also needs to be in tune with what each member of the board of director needs. This is challenging as it means being able to empathize with different personalities and bring all these personalities together during a meeting.
3. Complying to the company’s reporting guidelines
The corporate secretary is also depended upon for completing and filing accurate reports for compliance. Reports are also important as they serve as historical information which the company’s decision makers can use to make critical decisions concerning the business.
4. Keeping board meetings clear and concise
The corporate secretary has the crucial role to keep board meetings from being “bored” meetings. Successful meetings are productive and action-oriented. Given the limited time to meet, a clear and concise agenda must be ready and approved before the meeting starts.
5. Recording minutes in a way the board appreciates
It’s one thing to be able to record the minutes of the meeting, but it’s another thing to keep the minutes in a way the board of directors would appreciate. This means the corporate secretary knows what issues are important and what must be presented ahead of the report, instead of buried deep in a long list of issues that were discussed. Filtering information will be helpful to the board of directors who need to prioritise their time or the company’s resources to what is most urgently needed or to what will yield the best business returns.
6. Timely and accurate reporting
The importance of timely and accurate reporting could not be more emphasized. Corporate secretaries need to be skillful to gather and record factual data on time so that the company’s decision makers will make informed and timely decisions to benefit the company.
7. Supporting the board with business decisions
Finally, a corporate secretary isn’t just a note-taker, he or she has the capability to support the board of directors with making the right decisions for the business.
Remember, the corporate secretary has knowledge of the goings-on in the business being present in top-level meetings. This makes the corporate secretary a source of important information that could positively impact the success of the business.