Government relations/advocacy, technical committees.

Perhaps the least understood yet, arguably, the most important function of FEI is its technical committees and government relations/advocacy activities. The advocacy team is appropriately located in Washington, D.C., near the scene of the action it participates in--as a voice for financial executives with the U.S. Congress (the "Hill"), government and other agencies (FASB, SEC, IASB) and the administration.

The role of the technical committees is to prioritize and develop issues of importance to members and to then formulate positions and activities around these issues. They then deal with the appropriate sources to communicate FEI's position--both inside and outside the association.

The seven technical committees include: Benefits Finance (CBF), Corporate Finance (CCF), Corporate Reporting (CCR), Finance and Information Technology (CFIT), Government Business (CGB), Private Companies (CPC) and Tax (COT). Each of the committees-comprised of 18-35 members, operating within their own structure--contributes input on content that flows to both FEI members and external sources. The committees also work with staff liaisons to develop conferences, teleconferences and other content-related materials.

The two divisions are headed by Grace L. Hinchman, FEI's Senior Vice president, Public Affairs and Technical Activities, with a staff of 6--4 of whom are based in FEI's D.C. office and 2 in New Jersey. Hinchman is in her fifth year with FEI, having prior extensive experience in government relations.

When asked to state her department's proudest achievement, Hinchman doesn't even blink: "I would have to say, Sarbanes-Oxley, because we were able to really promote the true values of FEI and have them embedded in the final statute. That is, the Code of Ethics provision--that is now Section 406--and the financial experts serving on audit committee, Section 407."

The team is comprised of Mark Prysock, Director of Public Affairs and General Counsel. Employed by FEI for 2 1/2 years, he has responsibility as liaison for the committees on tax, government business and corporate finance.

Bob Shepler is FEI's Director of Federal Affairs and staff liaison for FEI's committees on benefits finance and private companies. An FEI staffer for 2 1/2 years, he also provides assistance with general oversight advocacy issues dealing with finance, with the Senate Banking Committee and the House Financial Services Committee--congressional committees with jurisdiction over the SEC, FASB and IASB.

Sherri Thomas, who also joined FEI 2 1/2 years ago, is the administrative-lead person with responsibility for running the D.C. office and coordinating all the staff and office activities.

Christine Di Fabio, based in New Jersey, is Director of Technical Committees and serves as liaison to the committees on corporate reporting and finance and information technology. She joined FEI in 2001. Maria Zadravac, with FEI since 2000, serves as administrative assistant, technical activities, providing support to the committees, as well jumping in to support other FEI areas and functions as required.

Another expanding area is FEI's Global Oversight Committee (GOC), also managed by Hinchman. The 15-member volunteer group, chaired by former FEI Canada Chairman Pierre Matuszewski, was initiated about a year ago. The GOC provides guidance, advice and counsel to FEI's Executive Committee on initiatives to expand FEI's global presence to non-U.S. members and potential members. Hinchman notes that FEI is "making a concerted effort to insert in all of our programming content of interest to non-U.S. members or potential members." And, FEI is working with its Strategic Partners to provide conference opportunities for members of global FEI Institutes.

For example, Hinchman sees pension accounting developing as the next big global issue. "You've got to have an issue to work in order to have it be relevant--as opposed to just sitting around and talking about nothing specific," she says. "That's where we can really help drive the views of the profession from a global basis." Watch for news on this and other subjects in the global arena, as FEI will undoubtedly be an outspoken advocate on behalf of its members.

*Thomas' and Flax's work with Strategic Partners will be featured in another issue.

FEI Members:

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