Atul H Mehta, president of Institute of Company Secretaries of India has explained the career path he had chosen and what he gets to know in the journey to reach the apex.
Although his friend advised him to take statistics and mathematics in higher studies, he went with company secretary course. Today, acquiring a successful position, he prides himself on taking the right decision.
CS Profile And Job Responsibilities:
In the long duration, he has participated in different forms of work including getting reports checked by public financial institutions or banks, dealing with clientele and identifying the potential market, making project reports and putting for loans from financial institutions ahead depleting the money to the shareholders of the concerned company.
According to Mehta, “Company secretaries act like in-house lawyers, taking care of day-to-day functions/activities of the corporate secretarial department in an organization.”
The company secretaries are responsible for governance-related tasks in a company and also take care to sign documents which are directly sent to regulator organizations comprising Securities and Exchange Board of India (SEBI), the ministry of corporate affairs and stock exchanges.
Further, preparing the agenda, following up orders for the meetings, conducting board meetings, generating notices to the board of directors and taking care of legal compliances of an organization are other job responsibilities under CS professionals. In addition, they deal with situations such as conflict of interest, they as well conduct a business advice in order to maintain the business go flawlessly, developing corporate strategy, showing ways to prepare financial reports, and helping in plan making.
Important Basics Of Company Secretary Profession:
1. Organisational Skills:
The CS must be aware of the context of the organization and understand the business. It is the responsibility of CS to translate governance theory to relevant processes, policies, and frameworks of the organization. They are required to implement all the processes in a manner to make it easy for an organization to understand.
2. Pro-Governance Experts:
CS is the important person who takes care of issues related to the corporate governance professional and knows the solution related to governance issues. So, it is relevant for them to work in company secretarial practice and governance as an employee. They have knowledge of both the current developments affecting governance and corporate governance and to be successful professional, development is a key ingredient.
3. Keen Eyes:
A CS needs to be keen on making sure that every detail is covered on the board, and planning, execution, and requirements for policies and procedures are well-maintained. It is also important for CS to understand goals and plans of the organizations.
4. Expert In Planning:
Planning is pivotal when it comes to internal and external compliance obligations and schedule for committee and board meetings. A good CS plans everything and has an eye on everything to be completed on time.
5. Good Communication Skills:
It is frequent that CS has to deal with senior external stakeholders, board members or directors, CEOs and senior executives. They have emotional intelligence, tact, diplomacy, discretion and good negotiation skills to communicate in oral and written form as well.
6. Nice Judgement Skills:
In the situations of conflict, it is necessary for CS to be firm and take a sound decision. At the time of communicating with seniors of the company, the company secretary needs to be judgmental.
Demand For Company Secretary:
Today, CS is one of the most sought-after profession and in demand as well. There is nearly 7,000 company secretaries demand in the country. As per the Companies Act 2013, every listed company is required to hire a CS as a full-time employer. In India, out of 10 lakh companies approximately a lakh is a private limited and 7,000 from them are listed as well in the stock market. Approximately 1,000 of them are large firms and needed to hire certain CS professionals.
In the company secretary course, 90% of the CS syllabus contains corporate laws. These laws are part of the LLB course as well. An LLB course in the CS course works as an additive. A CS must have knowledge of laws of the country, interest in case studies and an analytical mind.