Russian Club of Financial Directors

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Russian Club of Financial Directors
all-Russian nongovernmental organization
Industry Professional services
Founded 12.02.2012
Headquarters Russia : Moscow
Area served
Key people

Yuri Vronski, Kasyanova Tamara,

Andriyevsky Ivan
Website Russian club of financial directors

The Russian Club of Financial Directors (RCFD) is All-Russian public organization uniting the individuals who usually has to deal with the volume of cash flows and, as a rule, financial management involved in the financing of projects, large-scale investment or money management. RCFD brings together CFOs, heads of financial departments, treasurers, asset managers, chief accountants with the functions of chief financial officer, or other persons holding financial positions such as bank employees, traders, brokers, financial analysts, scientists engaged in financial research and training in the field of financial profile institutions.

Principles of activity[edit]

Russian club of financial directors was established in accordance with the Federal Law “On Public Associations” N 82 by 1995 registered in February 2012 by the Ministry of Justice of the Russian Federation. At the beginning of 2013. Russian club of financial directors has 42 regional offices in the major regions of the country. Russian club of financial directors is out of political activities, the Club summarizes expresses and promotes the interests of the financial community in Russia.

The main participants of the Russian club of financial directors are the financial director of the organization. According to the international definition, CFOs (Chief Financial Officer) - are persons who are responsible for the management of financial activities, the implementation of financial plans and accounting procedures in the company. In Russia, as a rule, they lead the accounting department and the finance department, which is part of the company and controls the activities of the company such as: asset management, budget planning and execution, auditing, tax payments, accounting and management accounting, property management, insurance, evaluation and minimization of financial risks, etc.

The main objective of the Russian club of financial directors is to consolidate the community of financiers of the Russian Federation on the basis of common values and principles of modern government, as well as its integration into the international financial community to exchange experiences and organization of friendly relations. Other important objectives of the same concerns:

  1. studying the needs of the financial community and the problems faced by Russian financiers;
  2. increase the level of economic knowledge and the promotion of financial education disciplines;
  3. the formulation of the agenda and organization of public debates on topical issues relating to the development of the system of finance, economy and industrial production;
  4. protection and promotion of the interests of members of the Club and the financial community in the legislative and executive bodies of state power and local government;
  5. RCFD cooperation with related to their activities in other community organizations, working to improve the pay and conditions of financiers, the protection of the interests of the financiers of commercial organizations;
  6. participate in the elaboration and preparation of federal, state and local decision making on matters affecting the financial and economic activity, bringing the expertise of the Club to the authorities;
  7. Business expertise in making decisions related to the development of financial education in Russia;
  8. Fostering an enabling environment for the restoration of Russia's position as a leading economic power;
  9. promoting the development of international relations in the Russian Federation;
  10. support the activities of the legislative and executive powers for the modernization of financial approaches and ways to integrate innovation in financial decisions;
  11. Encourage the establishment of Moscow as an international financial center;[1]
  12. Assisting investment projects.

Thus, in the activities of RCFD six key areas stand out:

  • Public and representative activity - social activities RCFD is to mainstream the needs and concerns of the financial community, promoting the development of individual programs, including the international level;
  • interaction with the state and municipal authorities - this line is necessary to advance the interests of the financial community in the legislative and executive bodies of state power and local self-government, as well as to participate in the elaboration of the Club, preparation or peer review of federal, state and local regulations;
  • research - research activity aimed at RCFD management, organization, development and research of an economic nature .
  • expert work - preparation of expert reports;
  • international activities - the organization of contacts and exchange of knowledge between the Russian economic community and their colleagues from other countries.
  • the promotion of investment - analytical and expert assistance to investors in their projects.

In accordance with the By-Laws of RCFD, the highest governing body is the Board of the Club. The Board gathers every four (4) years. Extraordinary Board gathers to address the Presidency, the President or First Vice-President of the Club, at the written request of the Auditing Committee of the Club, or at the written request of more than half of the regional offices of the Club. The governing bodies of the Club are: Club Board, the Presidency of the Club. Since 2013, the President of the Union is Yuri Vronski, First Vice President - PhD Kasyanova Tamara.

Active promotion of the Club provides the company "2K Audit - Business Consulting / Morison International",[2] which is part of the International Association of Morison International.

The possibilities of the Russian club of financial directors[edit]

The possibilities of the Russian club of financial directors due to its reputation in the Russian community and the capacity of its numerous members and supporters. Members of the Russian club of financial directors are active members of various expert communities of Russia on investment, tax planning, financial management, are involved in a number of projects have a significant amount of knowledge and information that contributes to the successful implementation of investment projects. Members of RCFD take a proactive stance, contribute to the development of the Russian economy.

Interaction with the legislative and executive authorities of the Russian Federation[edit]

Members of the Russian club finance directors are members of various expert councils of the State Duma of the Russian Federation:

  • Expert advice on Investment Committee of the State Duma Committee on Economic Policy, Innovation and Entrepreneurship Development;
  • Expert advice on investment legislation in the State Duma Committee on Financial Markets;
  • Expert advice on legislation on banking and auditing by the State Duma Committee on Financial Markets;
  • Expert Council for Urban Planning at the State Duma Committee for Land Relations and construction;
  • Expert Council of the State Duma Committee on Energy. The section on legislative support for the oil industry;
  • Expert Council of the State Duma Committee on Budget and Taxes;
  • Expert advice on road infrastructure and logistics infrastructure in the State Duma Committee for Land Relations and construction;
  • Expert Council of the State Duma Committee on Energy. The section on legislative support for the coal industry;
  • Expert advice on metallurgy and mining industries in the State Duma Committee on Industry;
  • Expert Council of the State Duma Committee on Transport. Section of the Transportation Security Administration.

International activities[edit]

One of the priorities RCFD, in accordance with the charter of the organization is to establish and strengthen relationships in the international financial environment. RCFD partners with IAFEI, holds social events, is a partner in a number equivalent to the national financial community, such as:

  1. International Association of Financial Executives Institutes (IAFEI) [3]
  2. China Association of Chief Financial Officers (CACFO) [4]
  3. Financial Executives Institute of Chinese Taiwan (FEI Chinese Taiwan)[5]
  4. Gesellschaft für Finanzwirtschaft in der Unternehmensführung e.V. (GEFIU) [6]
  5. Israel Chief Financial Officers Forum (ICFOF) [7]
  6. Associazione Nazionale Direttori Amministrativi e Finanziari (ANDAF) [8]
  7. Japan Association for Chief Financial Officers (JACFO) [9]
  8. Asociación Espanola de Ejecutivos de Finanzas (AEEF) [10]
  9. Korea Association for Chief Financial Officers (KCFO) [11]
  10. ÖPWZ Forum Finanzen [12]
  11. Financial Executives Institute of Belgium (FEIB) [13]
  12. Association Nationale des Directeurs Financiers et de Contrôle de Gestion (DFCG)[14]
  13. Instituto Mexicano de Ejecutivos de Finanzas (IMEF) [15]
  14. Financial Executives Institute of the Philippines (FINEX) [16]
  15. Stowarzyszenie Dyrektorów Finansowych (FINEXA) [17]
  16. Vietnam Chief Financial Officers Club (VCFO) [18]
  17. Financial Executives International (FEI) [19]

In this regard, RCFD:

  • forms a correct understanding of the Russian financial community and the Russian economy as a whole in the international arena, promotes its image;
  • represent the interests of Russian financiers within their competence,
  • establish a working group aimed at fruitful, mutually beneficial international cooperation.
  • holding meetings, forums, seminars, meetings of stakeholders.

In order to organize and conduct international work RCFD organizes:

  • international conferences and forums;
  • shows and events exhibition character;
  • provides stakeholders with relevant information;
  • prepares expert opinions;
  • create professional advice.

Foreign investment promotion and projects in Russia[edit]

The attractiveness of investment in the country due to many factors, including rich natural resources, vast undeveloped areas, highly educated personnel, combined with relatively low wages at the local level, as well as a significant domestic market sales. All this taken together form a significant set of promising investment projects. In the gross world product of the "new world markets' share of Russian steady at around 20%. Modern legal framework that supports foreign investment is the law "On Foreign Investments in Russian Federation" and more than 30 laws and decrees of the President of the equivalent laws of the Russian Federation. RCFD assists foreign investment in the Russian economy, as an independent professional advisor and provider by:

  • providing advice and legal assistance to foreign investors in the preparation of investment projects and joint ventures;
  • expertise in selecting partners;
  • advising investors on the engineering aspects of projects;
  • adaptation of foreign projects in accordance with Russian standards, rules and technical regulations ;
  • facilitating the registration, standardization, licensing and certification;
  • protection of intellectual property rights of foreign investors;
  • recommendations on the use of special economic zones and other legal options;
  • the protection of foreign investment in accordance with the laws of the Russian Federation.

Supporting foreign investors to the Russian Club of Financial Directors in accordance with Russian legislation and regulations developed by the Committee on Economic and Financial Committee (Second Committee) and the Committee on Legal Affairs (Sixth Committee) UN recommendations developed by UNIDO, the recommendations developed by the World Bank and its divisions, with taking into account the features of the legislation of each subject of the Russian Federation on the territory of which the project is being implemented.

Sectoral priorities of RCFD[edit]

Promoting Foreign Investment Russian club finance directors has in the industrial, energy, transportation, civil and agricultural construction, the development of housing and communal services and urban areas. Considerable attention is paid to the export of advanced technology, modern building materials, and new energy technologies, aimed at the development of social welfare and security of the person.

RCFD promotes investment in the oil and gas industry, electric power, metallurgy and mining industry, chemical industry, machinery, communications and telecommunications, processing industry, construction and building materials industry, transportation industry, aviation, shipbuilding, automotive, timber and agricultural industries, medical industries and pharmaceuticals.

Interaction of RCFD with other NGOs[edit]

Russian Club of Financial Directors is actively cooperating with the Russian Union of Engineers.[20] The interaction of two local organizations combine financial and engineering areas provides an important synergistic effect in the implementation of joint programs.

See also[edit]