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Skin in the game diktat: Relax rule for lower-level MF staff
April 30, 2021
New norm will badly hit the take-home pay for some employees
The recent SEBI circular pertaining to the skin in the game rule has triggered heated debates in mutual fund circles.
The markets regulator, with effect from July 1, has directed fund houses to pay 20 per cent of salary for some key personnel (includes perks, bonus, non-cash compensation net of income tax and statutory contributions like Employees Provident Fund) in units of mutual fund schemes in which the key employee has a role/oversight. The compensation in units will be proportionate to the AUM of schemes in which the key employee has role/oversight, SEBI said while excluding ETFs, overnight funds, index funds and existing close-ended schemes from the rule.
Mutual fund houses plan to approach market regulator Sebi through their industry body Association of Mutual Funds in India (Amfi) seeking amendments to the compensation circular issued on Wednesday. Among the most important tweak sought by the industry will be to reduce the ambit of ‘key employees’. Sebi’s current definition is quite widespread and almost covers the entire staff of an asset management company (AMC). Some of them also include personnel who have nothing to do with fund management or investment decisions. “The circular also covers employees like the head of human resource and dealing staff, among others. These people have nothing to do with the investment performance,” said Radhika Gupta MD and CEO Edelweiss AMC.
Optimizing Costs and Powering Better Population Health with the Cloud
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Health and human services agencies continue to amass large amounts of data, from information on utilization rates and program costs to data on provider and facility performance.
April 21, 2021 • Health and human services agencies continue to amass large amounts of data, from information on utilization rates and program costs to data on provider and facility performance.
Making sense of all this data is key for these agencies to improve care quality and better manage costs for state programs, which means they need partners with proven health solutions and deep healthcare expertise.
Job Description Position Purpose:
The FP&A of Iran is responsible to manage, control and supervise all performance management related activities within JTI Iran.
As a business partner, position will play a key role in supporting management decision-making process, as well as aligning local statutory requirements to Corporate Reporting and Operating Guidelines. The incumbent will have a pivotal function in providing adequate platform for ongoing performance measurement and monitoring of the Iran market & entities. Objective is also to support the Finance Director in addressing financial issues that have a material impact on the company s financial statements.
The incumbent should provide proactive business support to management enabling achievement of business objectives and improvement of financial performance. Main responsibilities include: Financial Planning & Analysis, Cash Flow Management, Brand and Market Performance Assessments plus any ad-hoc financial reviews.