Richard Whitmill, an accomplished Chartered Company Secretary and Fellow of the Chartered Governance Institute UK and Ireland (CGIUKI) is our newest KCB lecturer. With over 15 year of experience in the charity sector, Richard has built a diverse career as a trustee, volunteer and governance professional.
In completing the Chartered Governance Qualifying Programme (CGQP), Richard was awarded the John Phillips Memorial Prize for highest the overall performance on the programme, achieving six distinctions, and the AW Goodbody for outstanding results in the Interpreting Financial and Accounting Information module, scoring an impressive 95%.
We are delighted to welcome Richard to KCB as one of our Tutors for the CGQP Interpreting Financial & Accounting Information module where he brings both his expertise and firsthand insight into how to succeed in this Module that many students find the most challenging.
What motivated you to pursue the CGI qualifications?
Richard: I’d worked in governance for a while, so in many ways, it felt like the most logical next step. I wanted to develop my knowledge of governance as I wanted to know the theory behind what I was doing. When I talked to my employer, we both thought it was quite useful for me to do.
My background is in the charity sector, so I’ve not come from a big team of company secretaries where it feels like there’s a progression route where you do these qualifications. I sort of fell into governance. I hadn’t really, until I was working in governance, heard of the qualifying programme, but I was looking at the next step, and I knew there were some other people in the sector who’d done it. It just felt like it would really level up my governance understanding.
As you now step into a new role as a tutor for the Finance and Accounting module, what do you hope you’re going to bring to your classes, both academically and in terms of student experience?
Richard: I think it’s really important to say I’m not an accountant. I don’t have a finance background, and I dropped maths at school as soon as humanly possible. When I was taking the qualifications, I was really worried about this module, but now I’m teaching it! I actually did well on it, and I hope I can bring some of my techniques for learning.
My whole approach is that it’s a governance module. It’s not about learning to be a bookkeeper or an accountant. It’s about understanding how finances work so that you can advise boards.
Academically, I am going to try to explain concepts simply and focus on the principles. There are calculations that you need to do but my working theory is that if a student understands the principle, then the maths will follow. Anything that’s mathematical we will do step by step, and we’ll do it in a logical way which isn’t reliant on holding lots of figures in your head. I’ll also be honest about what I enjoyed or found difficult, and bring my tips for exam success.
You achieved hugely impressive marks in your exams, and the AW Goodbody and John Phillips Memorial prizes when you took the exams. What do you think contributed to your success?
Richard: Putting in the time. CGI recommend 200 hours, and KCB agree that this time is needed to achieve a merit or distinction.
The importance is to start preparation early, by working at it little and often, and focusing on exam technique. When I took the exams, I tried to understand the course at a very high level to begin with. I asked myself: What is it all about? What are we trying to learn here? It helps to simplify the text into things that you can learn and deploy in the exam. So if you have a chapter with lots of concepts, asking yourself what are the top five things I need to learn?
In my revision, I just practiced. Practice, practice, practice. Use the KCB Companion to practice exam questions, because it not only help you with your exam technique, but it also develops your knowledge will be a huge benefit for the KCB students.
If you could only give students one piece of advice, one thing to take into the exam, what would you tell them?
Richard: Believe in yourself. It’s very cheesy, but you’ve done the work, you’ve had access to KCB tutors, the KCB LMS [Learning Management System] and the Companion Examination Practice Tool . When you’re in the exam it’s easy to be scared, but actually, if you’ve done the work you’ve got that knowledge. So believe in yourself, back yourself.
In practice, that means attempt each question, and write as you start thinking about it logically. Your knowledge will come to you, and don’t leave any question unanswered because you can’t get marks from blanks.
Have you found that having the qualification has helped you navigate governance complexities in your day-to-day job?
Richard: 100%. It has been so useful. I think when I signed up, I was interested in the technical side of things. I thought I needed to know how to write resolutions and run meetings and so on. It’s been helpful for that, but the fact it goes beyond that and helps you actually, really, properly, strategically advice a board is great. In the last year it’s helped me strengthen risk management from the Risk Management module. It’s helped me understand board dynamics, and facilitate away-day sessions and navigate dynamics between board members.
For the module I’m teaching [Interpreting Financial and Accounting Information], that’s also been really helpful for my role. Being able to read a set of accounts and understand what’s going on in detail helps you understand what’s happening in the company, but also support the board and provide context to explain to board members without a financial background what’s going on.
Why do you consider the CGQP pathway to be such a critical foundation for aspiring governance professionals?
Richard: I think they’re important because, firstly, recognition. They’re a mark of quality. They show the boards you support or potential employers, that you know your stuff and you’ve got an internationally recognised qualification. Going back to what I was saying earlier, they give you such a good grounding in how governance works across lots of areas, and they give you the technical knowledge to be able to do your day to day job well. I think someone’s referred to it as a mini MBA, with a focus on governance, and that gives you an understanding about how companies run. The soft skills you get are really helpful. It starts help making you think how to be a strategic advisor and a confidant to the board, and not just someone who does the filing.
If you’d like to register for Richard’s Interpreting Financial & Accounting Information CGQP course, register here.