company secretary

The work

Company secretaries, sometimes known as chartered secretaries, make sure that companies and their directors obey company laws and regulations.

They have a wide range of financial and legal management responsibilities. Their work typically involves:

• keeping company records such as lists of directors and shareholders
• sending company information to Companies House or to the Stock Exchange
• organising and taking minutes of annual general meetings and board meetings
• preparing annual company reports
• administering share option schemes and paying dividends
• keeping up to date with company law
• advising directors and board members about their legal responsibilities
• being the company’s named representative on legal documents
• dealing with other professionals like lawyers and auditors.

Depending on the size of company they work for, company secretaries may also be responsible for:

• accounting and finance, including payroll, budget and internal audits
• health and safety and risk management
• managing insurance and property issues
• general management.

Hours and Environment

As a company secretary you will normally work office hours of 9am to 5pm, Monday to Friday. You may sometimes have to work extra hours to meet deadlines, or attend evening meetings. Part-time work is possible in some jobs.

You will be mainly office-based, but may travel to some meetings.

Skills and Interests

To be a company secretary you should:

• have excellent spoken and written communication skills
• have good presentation and negotiation skills
• understand business and finance
• be well-organised
• pay attention to detail
• be able to understand and explain complex legal and financial matters
• have good judgement and be able to solve problems
• be able to prioritise and manage a busy workload.

Entry

Most company secretaries have several years’ business experience, and many have HNDs, degrees or professional qualifications in business, law, accountancy or public administration.

You do not need any formal qualifications by law to become the secretary of a private limited company. To be the company secretary of a public limited company, by law you must be a qualified accountant, solicitor, barrister or advocate, or a member of the Institute of Chartered Secretaries and Administrators (ICSA).

To become a qualified company secretary, you must complete the ICSA International Qualifying Scheme. This is made up of three stages:

• ICSA Certificate in Business Practice
• ICSA Diploma in Business Practice
• Professional Programme (Parts 1 and 2).

Your starting point can depend on your previous qualifications. For example, you do not need any formal qualifications for the Certificate in Business Practice. If you have a business-related HND or are a fully-qualified accounting technician, you may be able to start with the Diploma. If you have a degree in accounting, finance or law, or if you are a qualified chartered accountant or solicitor, you could start at the Professional Programme Part 2.

If you are interested in becoming a company secretary, the ICSA website includes a list of companies that offer work placements. This would allow you to gain experience and help you to decide whether this is the career for you.

Training

Once you are working as a company secretary you will usually develop your knowledge on the job, and also work towards the ICSA International Qualifying Scheme exams.

You will become a graduate member of ICSA after passing the final Professional Programme stages. To become a fully-qualified Associate member of ICSA, you must also gain six years' relevant work experience.

ICSA also offers single-subject certificates in subjects such as offshore finance or charities management. You can study these either as stand-alone qualifications or as part of a continuing professional development (CPD) scheme.

You can study for ICSA courses part-time or by distance learning whilst you are working, or full-time at certain colleges and universities.

See the ICSA website for full details of qualifications, course providers and membership.

Opportunities

At the moment all companies must by law have a company secretary, although the law controlling this situation may be set to change soon.

Company secretaries are employed by registered companies of all kinds, and by many other types of organisation including:

• banks, building societies and insurance companies
• charities
• local authorities
• universities
• trade and professional associations
• NHS hospital trusts.

Some chartered secretaries also set up their own businesses, either advising clients or acting as a company secretary for several small companies.

Company secretaries could move into senior management or become company directors.

Annual Income

Figures are intended as a guideline only.

Graduate entrants start at around £21,000 to £27,000 a year.
Qualified company secretaries with around five years' experience might earn £35,000 and £55,000 a year.
Senior company secretaries can earn £70,000 to £120,000 a year.

Performance-related pay and other bonus schemes operate within some companies.

Further information

16 Park Crescent
London
W1B 1AH
Tel: 020 7580 4741 51 Gresham Street
London
EC2V 7HQ
Tel: 0845 257 3772

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