There are two primary governing bodies in TMA: Executive Board and Board of Trustees. The Board of Trustees’ main responsibility is to act as an intermediary between the Executive Board and the members and as a forum for members to receive information that allows the Association, its chapters, and international affiliates to better serve and represent the members.
Personal Qualities for Officers
In selecting candidates to serve as officers of the Turnaround Management Association, the Nominations Committee considers the personal qualities of individuals, including the following:
Vision: the capacity to inspire a shared vision for the organization
Objectivity: to listen well and provide a forum for productive dialogue, with contributions on all sides of an issue
Energy and commitment: demonstrate enthusiasm for the job and a sensitivity/respect for the role and needs of the staff management team
Be inspired to reach the organization’s full potential and be willing to devote the necessary time to the position.
The Following Are Executive Board Roles Chosen by the Nominations Committee
President
Vice President-Chapter Relations
Vice President-Conferences
Vice President-Communications
Vice President-Education
Vice President-Finance
Vice President-International Relations
Vice President-Membership
Secretary
Chair, Chapter Resource & Response Committee
At-Large Member (up to 3)
Duties of Officers
All officers serve a 1-year term. Full descriptions can be found within the TMA By-Laws.
About TMA Committees
Annual Conference Committee
Board Liaison: VP of Conferences
Staff Liaison: CEO
Time Period of Committee Work: March to November
The Annual Conference Committee is charged with planning and overseeing The Annual Conference traditionally held in September. The committee decides the schedule, speakers, and panels of the conference as well as the networking events including the food & beverage, music, and venues. There are two co-chairs and up to 15 Committee members. This committee requires a lot of time and conference calls as well as two in-person meetings over a six-month period. Members of the committee are also required to attend the conference and moderate panels.
Awards Committee
Board Liaison: Awards Committe Co-Chairs
Staff Liaison: Project Specialist
Time Period of Committee Work: February to August
The Awards Committee is charged with setting forth the criteria and judging TMA’s annual Turnaround and Transaction Awards, a highly prestigious distinction of excellence for industry professionals. Members ensure the integrity of the selection process, conduct due diligence on nominated transactions, and ultimately select the winners. This committee meets approximately eight times a year via conference call. Time commitment involves review of nominations criteria, nominated transactions and rating of all submissions based on an established protocol.
Certification Oversight Committee (COC) *Does not report to Executive Board
Board Liaison: VP of Certification
Staff Liaison: Program Director, Certification & Education
Time Period of Committee Work: January to December
The Certification Oversight Committee, comprised of professionals from the corporate renewal industry, is responsible for overseeing all CTA and CTP activities independent of the TMA Board of Directors. These activities include establishing and upholding standards for initial certification, recertification and continuing education, issuing certificates to individuals who meet these standards, and establishing and maintaining a disciplinary process for CTAs and CTPs.
Certification Standards Subcommittee
The Standards Subcommittee of the Certification Oversight Committee is responsible for upholding certification standards as set forth by the Certification Oversight Committee. This includes reviewing, approving, rejecting, or deferring applications for certification, establishing and maintaining ethical and professional standards for certified professionals, and implementing appropriate disciplinary actions against CTAs and CTPs who have violated the standards.
Chapter Resource and Response Committee (CRRC)
Board Liaison: Chair, CRRC
Staff Liaison: Chief to Staff
Time Period of Committee Work: January to December
The Chapter Resource and Response Committee (CRRC) is charged with review and approval of chapter grants aimed at (1) enhancing the educational goals of chapters that have been facing challenges in this area, (2) providing programming opportunities (networking and educational) aimed at growing chapter memberships, (3) increasing the visibility and reach of TMA, (4) adding value to TMA members aimed at assuring member retention. The CRRC Chair is recommended by the Global Nominations Committee and serves with up to twelve members of the association who are selected by recommendations of TMA Global leadership. Former chapter leaders (board and committee members) are ideal participants particularly if they have experience and/or wish to offer advice on programming, events, leadership, and membership best practices. Time commitment is eight to fifteen calls a year based on the number of grant requests made.
Diversity, Equity & Inclusion (“DE&I”) Global Committee
Chair: Chair, DE&I Committee
Staff Liaison: Project Specialist
Time Period of Committee Work: January to December
The Diversity, Equity & Inclusion (“DE&I”) Global Committee works to create an inclusive culture and welcoming environment that values diversity, enhances community impact and partnerships, and increased awareness & social responsibility in the industry by providing strategic guidance and resources to TMA leaders, chapters and members to help create a diverse and inclusive membership, based on demographics including age, appearance, disability, ethnicity, gender, gender identification, geographic location, nationality, professional level, race, military status, religion, and sexual orientation, amongst other things aimed a creating a more diverse and inclusive professional community.
Distressed Investing Conference (DIC) Committee
Board Liaison: VP of Conferences
Staff Liaison: CEO
Time Period of Committee Work: August to March
The DIC Committee is charged with planning and overseeing The Distressed Investing Conference traditionally held in February in Las Vegas. The committee decides the schedule, speakers, and panels of the conference as well as the networking events including the food & beverage, music, and venues. There are two co-chairs and up to 15 Committee members. This committee requires a lot of time and conference calls as well as two in-person meetings over a six-month period. Members of the committee are also required to attend the conference and moderate panels.
Education Oversight Committee (EOC)
Board Liaison: VP of Education
Staff Liaison: Program Director, Certification & Education
Time Period of Committee Work: January to December
TMA’s Education Oversight Committee (EOC) initiates and develops educational programs to benefit members and Chapters directly. Overseen by the VP Education, the Committee encourages the sharing of best educational practices amongst the chapters by staying abreast of timely topics and developments within the industry/marketplace important to the professional development of TMA members and/or partner organizations who may benefit from TMA educational programming. This includes recommending new content and ensuring that existing content stays current. This committee meets about eight times a year via conference call.
Finance Committee
Board Liaison: VP of Finance
Staff Liaison: Finance Director
Time Period of Committee Work: January to December
Subcommittee: Investment
The Finance Committee reviews financial statements and operating reports quarterly (at a minimum), ensuring that the organization is performing in accordance with its mission, strategic plan, and/or operating plan and budget. The Committee, led by the VP Finance, provides for a risk prevention program, which includes but is not limited to obtaining the appropriate directors’ and officers’ liability and other insurance coverage, and maintains oversight of cash management protocols. This committee meets about four times a year via conference call.
Audit Committee
Board Liaison: VP of Finance
Staff Liaison: Finance Director
Time Period of Committee Work: January to June
The Audit Committee is charged with reviewing reports regarding TMA’s financial condition, risks analysis in budgeting as it applies to yearly financial objectives, and the strategies to mitigate risks against achieving those objectives. Oversiin by the VP of FInace, the Committe reviews with the management and external auditor the financial statements, the financial reporting, process, the system of internal controls, the audit process, and the organization’s monitoring of compliance with applicable laws and regulations. The Audit Committee reports its analysis, conclusions and recommendations to the Global Board of Trustees. The committee meets two to three times during the year via conference call.
International Committee
Board Liaison: VP International Relations
Staff Liaison: Chief of Staff
Time Period of Committee Work: January to December
The TMA International Committee develops strategics and tactics to support TMA Global’s goals of creating better connectivity between its chapters around the world. The committee is comprised of a balanced group of TMA members representing all chapters including those in North America, Europe, South America, Australia, Africa, and Asia Pacific area Chapters.
Marketing & Communications Committee
Board Liaison: VP of Marketing & Communications
Staff Liaison: Director of Marketing and Communications
Time Period of Committee Work: January to December
The Marketing & Communications Committee reviews and suggests marketing and communications strategies and initiatives. The committee aims to improve these initiatives and increase membership and member engagement. The committee focuses on not only TMA Global marketing and communications to all members and the public but also to chapter presidents and executives. The goal of this work is to educate leaders throughout the organization on the latest campaigns, tools and best practices. One chair and up to 15 committee members are on the committee. There are approximately 5-7 calls per year with a time commitment of about 40 hours.
Membership Council
Board Liaison: VP of Membership
Staff Liaison: Director, Member and Chapter Support
Time Period of Committee Work: January to December
The Membership Council provides strategic guidance to leadership and membership chairs at the chapter level on the recruitment and retention of TMA members and provides TMA Global with guidance on tools that would be beneficial for chapters to have access to in order to achieve recruitment/retention goals. The Membership Council is overseen by the VP of Membership and consists of seven to ten members chosen by the TMA Global membership team. In addition to the committee members, the VP Chapter Relations is also included on the council. There are approximately 6 calls per year with a time commitment of about 20 hours.
Network of Women (NOW) Committee
Board Liaison: NOW Co-Chairs
Staff Liaison: Chief of Staff
Time Period of Committee Work: January to December
The Network of Women (NOW) Committee fosters leadership opportunities by creating educational and networking opportunities for women in the corporate renewal and restructuring industry. The group aims to increase the participation and number of offerings for women’s networking events, educational sessions, and professional development opportunities, both at the chapter, regional and global level. Two co-chairs and up to 15 Committee members liaise directly with chapters and plan the annual NOW Summit. There are approximately 5-7 calls per year with a time commitment of about 10 hours.
NextGen Committee
Board Liaison: NextGen Co-Chairs
Staff Liaison: Marketing & Communications Manager
Time Period of Committee Work: January to December
The NextGen Committee is charged with strategic guidance for NextGen leaders to help grow and retain young professional membership at the chapter level, as well as to mentor these members on how to become involved at the Global level. The Committee is divided into subcommittees charged with a focus on Membership/Chapter Support, Communications, and the NextGen Leadership Conference.
Nominations Committee
Board Liaison: Immediate Past Chairperson
Staff Liaison: Chief of Staff
Time Period of Committee Work: January to December
The Nominations Committee oversees the nominations process for the governance of the organization including the Board of Trustees, Executive Board, and Committees. One chair and up to 15 committee members are on the committee. There are approximately 5-7 calls per year with a time commitment of about 100 hours.