When you are going to start business in Singapore, corporate company secretarial services are becoming increasingly relevant. This is a one-of-a-kind role within the organization that is neither part of the line management nor a direct member of the board. As a result of the position’s importance, the job is formally known as an – administrative servant of the board is set to be renamed, board advisor. A corporate secretary carries a great deal of responsibility and, as a result, should be treated with extreme caution.
The company secretarial service professionals assist in the maintenance of the organization’s everyday activities. This involves upholding the credibility of the governance process, being responsible for all company administration, and adhering to legislative and regulatory requirements. They also assist with the implementation of the Board of Director’s decisions.
What is the importance of company secretarial services Singapore professionals to your business?
It is always necessary to remember the duties that are expected in such a role while looking for a corporate company secretarial services Singapore expert. These responsibilities include the following:
#1 Corporate secretary act as a consultant
During his or her tenure, the company secretary secretarial Singapore personnel will advise the board of directors on important decisions. They have a huge influence on the decisions that are made, so it is important that the right person is chosen for the role when you start business in Singapore.
#2 Corporate secretary handle share market trades
This includes everything from selling new shares as the business grows to arrange dividend payments to ensuring that all legal criteria are met. This element of the role is critical because it will save you a lot of money in legal fees if anything goes wrong when you start business in Singapore.
#3 Corporate secretary attends and coordinate board meetings
Onboard governance questions will be done in collaboration with lawyers, auditors, tax advisors, bankers, and shareholders. The corporate secretary’s position during these meetings would be to take notes and minutes of the directors’ and members’ meetings.
Although these are some of the primary responsibilities of the role, corporate secretaries are responsible for a wide range of tasks. Each of these duties is an essential component of any organization and has a major effect on the day-to-day operations of the company. The following are the primary responsibilities of the said role:
- Board and committee meetings
- Meeting minutes
- Annual shareholder meeting
- Corporate records
- Subsidiary management
- Stock transfers and dividends
- Securities market listings and compliance with listing standards
- Compliance with federal and provincial board governance laws
- Governance liaison for officers and directors
- Shareholder engagement
Characteristics of a Corporate Secretary
Given the nature of the position, a variety of skill sets are needed to effectively complete the task as a company secretary. Without these skills, it is possible that the job will not be done quickly enough to ensure your success when you start business in Singapore. The following are the most desired characteristics:
#1 Analytical abilities
The ability to assess a situation and make fast problem-solving decisions is essential for the role. Throughout the day, it is critical to consider a wide range of circumstances in order to determine which would be the most beneficial if you start business in Singapore.
#2 Leadership and interpersonal abilities
The job will require you to manage a group of people, so organization skills are important. The corporate secretary would be able to ensure that everyday activities operate as smoothly as possible by efficiently managing and coordinating a team.
#3 IT knowledge
Technology now has a greater influence on modern corporations than at any other point in history. As a consequence, familiarity with IT is important. This covers everything from comprehending spreadsheets to handling emails effectively.
#4 Effective communication
While communication is critical to the job, though it is considered a soft skill. It is normal for the corporate secretary to negotiate on behalf of the company. As a result, they must be able to properly present their own point of view while also recognizing the points of view presented to them by employees and team leaders.
#5 Working knowledge of the legal system
#6 Time management is important for any corporate secretary
Due to the number of duties covered by the work, flexible time management is essential. A corporate secretary must make the most of every minute of the day. They will do exactly that by possessing excellent time management skills and supervising the business’s day-to-day activities.
An effective manager should have these characteristics, core competencies are required to their role. Here are the core competencies needed for the job:
- Working knowledge of corporate and securities law
- Demonstration of “presence” and excellent communication skills
- Sensitivity and intuition toward CEO and director’s thoughts and feelings
The ability to read signals and provide early warnings to management or head staff
Ability to mediate and assist in achieving consensus
In theory, the responsibilities of a company secretarial services Singapore professional involve all required administrative tasks within a company. They must ensure that all appropriate documentation is distributed to board members in advance of meetings and that board protocols are followed. The secretary is in charge of ensuring that all laws are followed and that all company activities are carried out properly. They will be the shareholders’ point of touch for corporate legal issues. This is very demanding work that needs a lot of respect. There are so many tasks to cover on a daily basis that choosing the right person for the job is an incredibly important activity in and of itself.
Here at WLP Group, our company secretarial and incorporation services can increase overall business productivity by allowing your employees to focus on their jobs. Our professional team will handle all of the paperwork for you, saving you time and increasing your productivity. We provide payroll, accounting as well as company incorporation services to every business.