All-Russian Public Organization Russian Club of Financial Directors is a nationwide organization, designed to ensure the consolidation of financial employees, to represent their interests in social, economic and political institutions and to contribute to the development of professional standards of financial activity. To accomplish these tasks the Club carries out the following activities: cooperation with government bodies and public organizations, international activity, cooperation with businesses, creation of proper conditions for more efficient financial activity, scientific and expert activities, and corporate work.
Cooperation with public authorities
Close cooperation of public authorities and civil society institutes is common when it comes to the process of social and economic development of Russia. Since the most considerable changes in Russia usually happen with the help of the government, organization of cooperation with the government is one of the priorities of the Club. The Club forms the main demands of the financial profession in the form of expert opinions and legislative initiatives submitted to legislative and executive public authorities. We cover a wide range of issues and carry out negotiations both on formal and informal levels.
Members of RCFD consist in the following councils and committees:
Expert Council for Urban Planning under the State Duma Committee on Land Affairs and Construction; Expert Council of the Commission for State Property and Land of the Moscow City Duma; Council under the State Duma Committee on Energy; Section on legislative support of the oil industry; Expert Council of the State Duma Committee on Budget and Taxes; Council on Banking and Audit Legislation under the State Duma Committee on Financial Market Expert council on investments of the State Duma Committee on Economic Policy, Entrepreneurship and Innovation Development.
RCFD provides its support the bodies of legislative power in the area of improvement and modernization of the regulatory system to increase economy development indexes on the whole and create in Russia an attractive investment environment for international businesses in particular.
When cooperating with the government we take comprehensive sets of activities corresponding to all standard operating procedures and formal regulations of state institutions. Such activities include: preparation of proposals to improve the legislation, participation in expert councils and public councils under the Federal Council of the Russian Parliament, State Duma of the Federal Assembly of the Russian Federation, ministries and administrations, organizations of forums, congresses and summits in order to articulate and aggregate the interests of financial employees and to subsequently distribute the information on problems and prospects of financial sector development to public authorities.
Cooperation with public organizations
All-Russian Public Organization Russian Club of Financial Directors cooperates with Russian and international public organizations.
Professional organizations of the Russian financial market are as follows:
- Association of Professional Accountants;
- Association of Russian Banks;
- Association of Regional Banks of Russia;
- The Chamber of Commerce and Industry of the Russian Federation;
- National Association of Securities Market Participants;
- Professional Association of Registrars, Transfer Agents and Depositories;
- National League of Management Companies;
- National Association of Non-State Pension Funds;
- Russian Union of Manufacturers and Entrepreneurs;
- All-Russia Public Organization Delovaya Rossiya;
- Russian Association of Small and Medium Enterprises;
All-Russian Public Organization Russian Club of Financial Directors is open for business partnership with professional organizations of financial employees. The most important issues of ours are as follows: protection of interests of financial community, creation of favorable investment environment in Russia, development of banking, entrepreneurial, investment, management and scientific spheres.
An important development factor of a public organization is expansion beyond the borders of its country and involvement in international processes. It is the international level where exchange of experience, acquisition of useful business connections, development of investment projects and increase of the Club’s and its members’ capabilities take place.
International activities of RCFD comprise:
- facilitation of international experience exchange to develop financial transactions;
- expanding the contacts between international financial directors and investors with Russian companies and organizations;
- promotion of Russian image as one of the leaders of international financial markets;
- establishment and development of international relationships between Russian and overseas financial communities;
Russian Club of Financial Directors develops and expands the cooperation with such international financial institutions as World Bank Group (WBG), International Bank for Economic Cooperation (IBEC), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Bank for International Settlements (BIS) and other major international financial organizations.
Besides, RCFD actively contributes to the facilitation of cooperation between the Russian financial profession and Financial Action Task Force on The Eurasian Group on combating money laundering and financing of terrorism (EAG).and the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL).
Thus, thanks to the international cooperation we contribute of the increase in the level of trust of the international community in the financial system and economy of the Russian Federation which leads to more favorable investment climate and improvement of Russian image.
Cooperation with businesses
The sphere of business and entrepreneurship plays an important role in the development of a country and economy. Financial sector is not an exception. Businesses being a subject of economic relationships act as investors and holders of highly liquid financial assets. RCFD helps the representatives of private companies to organize negotiation and provides its support to Russian enterprises in their operations and getting access to international financial markets.
Developing international and scientific activities RCFD contributes to the creation of favorable conditions for increasing the ratings of businesses. Meanwhile, the process of turning the science into the key factor of industrial production contributes to a significant transformation of economic and production spheres and facilitates the inflow of investments to the Russian economy.
Creation of favorable conditions for a more efficient financial activity
Creation of favorable conditions for a more efficient financial activity is the key area of the Club’s work. The most important project within the framework of this area is the creation of favorable conditions for the development of Moscow as an international financial center and preparation of international programs of financial cooperation and development. Implementation of this project will contribute to the development of growth anchors in banking, insurance and investment sectors. This will also stimulate the development of infrastructure financial instruments and improvement of quality of corporate finances management of Russian companies.
Besides, RCFD exercises public control over financial market and its entities and takes the measures to prevent fraud and unfair competition.
Scientific and expert activity
Today, it’s very difficult to imagine the development of economic and financial spheres without sufficient scientific and expert studies of the process in economy. Scientific work is important not only as an indicator of social status, but also as an indicator of professional development. Science and education first and foremost represent a solution to personnel issues, enhancement the efficiency of financial transactions, expert activity, analysis, prediction and economic data synthesis.
Russian Club of Financial Directors provides training to young experts with the aim to improve the level of knowledge in the sphere of finances, taxes and law.
Apart from scientific work our Club provides technical and consulting assistance to financial directors, managers, analysts and chief accountants in implementation scientific, research and expert activities.
An important source of the Club’s activity and its development is its corporate work. Our corporate work comprises the following:
- maintenance of the register of financial directors of the Russian Federation;
- creation and maintenance of a rating of financial directors;
- maintenance of an information portal for financial directors;
- informational and organizational work to consolidate the profession and form steady connections in the financial community;
- assisting the Club members in expanding their personal contacts and development of business connections between financial managers of various organizations and regions;
- monitoring of financial employees opinion on pressing issues of economy development.
Corporate work is focused on creation of professional standards of financial mangers’ activity and standards of corporate finances management, elaboration of qualification requirements to financial directors and managers in accordance with the amounts of financial assets and the complexity of transactions.
Russian Club of Financial Directors in the only organization which consolidates the financial profession and accumulates its main requirements carries out international and training activities and elaborates professional standards. The Club successfully deals with this and many other tasks.