I’m a Nonprofit Board Member – What’s up with all this jargon?
Communication can be a funny thing – each group has its own special terminology and shorthand that can prove frustrating until you “speak the language.”
Our Language of Nonprofit Fiduciaries© is a great tool and will get you speaking Fiduciary in no time! It will take you from this,
Nonprofit Word of the Day: FQMS
FQMS stands for the Fiduciary Quality Management System.
That’s a mouthful – and it’s something pretty important you should know about. (It’s also four words, so you get a bonus this time!)
The Fiduciary Quality Management System (FQMS)
The Fiduciary Quality Management System (FQMS) is a framework for addressing fiduciary responsibilities in the investment process. Developed by CEFEX, it is modeled after the International Standards Organization (ISO) 9000 Standard for Quality Management Systems which stresses a process-driven approach and the concept of continual improvement. Four major steps comprise the FQMS: Organize, Formalize, Implement and Monitor.
Understanding and implementing this System is extremely valuable and puts you directly on the path to Fiduciary Excellence.
Check out the Prudent Practices for Investment Stewards promulgated by CEFEX.
Our team of experienced fiduciaries and CEFEX Analysts provides practical fiduciary education and consulting services to help you readily meet your fiduciary responsibilities so you can focus on what inspires and motivates you!
Check out Training Introduction – FiduciaryPath Fiduciary Consultants