Officers Duties

President - general duties

  • Will appoint committees, oversee all SMHIC activities, and preside over all SMHIC meetings. 
  • The President will have the power to create and conduct an agenda for all meetings, and may enforce or waive formalities of such an agenda.
  •  The President will have the power to recommend disciplinary action to any Partner who, in the opinion of a member of the SMHIC, is considered to have acted contrary to the provisions of these By Laws or has displayed negligence in the performance of duties or expectations. 
  • The President will also have the power to BUY and SELL securities in absence of the Treasurer. 
  • The President will have the power to provide or suggest new stock ideas, new sectors to the partners along with direct recommendations. However, direct recommendation(s) shall be pitched to the partners for a vote where the majority wins. In this instance, his own vote cannot be counted as a tiebreaker.
  • Occasionally, the stock markets will present rare opportunities to buy where a major market pullback is occurring and the president has the right and the power to call for an emergency meeting to vote on stocks to buy the day of or the next day. In the event a meeting cannot occur due to scheduling conflict, a vote via whatsapp/email will be sufficient with a majority vote to buy specified equities.

Vice President - general duties

  •  Will assume the duties of the President when absent or unable to serve the office. 
  • The Vice Presidentwill be responsible for the activities, progress, and reports of all committees that are formed. 
  • The Vice President is also in charge of all educational activities.
  • The Vice President Is responsible for ensuring  that the  Club’s study program is properly carrier out, maintaining an educational program of the partnership and appointing partners to present investment reviews and serve on
  • The vice president is responsible for any activities, tasks that are brought upon by the president or suggested by the serving officers  to carry out for the benefits of the club and its partners such as newsletter publication on a quarterly or annual basis as deemed necessary, create presentations slides for the club pre-meeting and monthly scheduled meetings in the absence of the president

Treasurer - general duties

  • Will keep a record of all SMHIC financial activities, calculate and distribute valuation statements each month, and any other statistical reports required
  • The Treasurer will maintain records accounting for the SMHIC Investment Club financial operation, assets, and individual account value.
  • The Treasurer will serve as agent for the Partnership to place BUY and SELL orders; and will distribute and collect funds. 
  • The Treasurer will be responsible for all cash and broker transactions; the collection of dues; and notifying the Secretary of Partners in default of dues.
  • The treasurer ensures records ( buys, sells, dividends) in our club brokerage account match Bivio’s accounting records on a monthly or quarterly basis.
  • For any discrepancies found, the treasurer will reach out to Bivio to create a ticket for proper accounting or adjustments.
  • Treasurer to login to Bivio’s website for treasure training in order to perform quarterly and end of year audit as recommended by Bivio.
  • Treasurer to attend all Bivio’s year end kick off and training to be able to perform a full accounting audit for the club prior to filing the club taxes. 
  • Treasurer to follow Bivio’s tax filing  process to file club tax returns accurately and successfully. Upon completion of the return, the treasurer shall distribute and ensure every member or partner obtains a K-1 form on time for their taxes filling.
  • Ensure SMHIC business acount transaction matches Exactly what has been reported to Bivio

Secretary - general duties

  • In collaboration with the treasurer, the secretary will track all partners' monthly payments and quarterly dues in a business spreadsheet or in Bivio
  • Will update Bivio our club accounting software with monthly and prepayments received.
  • Document late payments and reach out to partners to submit their payments.
  • Track late payments for all partners and register in spreadsheet till payments rendered.
  • Come up with resolutions to re-enforce on time payments.
  • Work and assist the treasurer as need be to ensure smooth running of the club
  •  The Secretary will be responsible for all correspondence pertaining to the SMHIC Investment Club, including the distribution of reports from meetings, officers and committees upon notification by the President or the TreasurerThe Secretary will issue a notice to any Partner regarding any fines or disciplinary action, and include the reason and decision for the action. The Secretary must keep hard copies of all SMHIC correspondence.

Budget Manager - general duties

  • In collaboration with the treasurer and the  secretary,the budget manager shall work together to track all  monthly, quarterly and yearly expenses.
  • The budget manager shall set goal and report on preliminary budget analysis
  • The budget manager shall forecast, communicate the club expenses for all expenses incur by the club
  • Budget manager shall process budgetary items, manage and track income and expenses for the club
  • Budget manager is responsible for ensuring that the club  expenses do not exceed the unit's allocated budget.
  • Budget manager is responsible for requesting budget changes, submitting changes, approving transactions and requesting payments from partners to ensure all expenses are covered.
  • The budget manager is responsible for creating, implementing, and evaluating budgets and cost projections within the club partnership
  • The budget manager shall establish projected expenses by gathering  and looking at past and current data to carry out the club’s expenses.
  • The budget manager shall  set aside contingency funds for unforeseen expenses.
  • Ensure SMHIC business acount expense transaction matches Exactly what has been reported to Bivio
  • Ensure expenses are paid  the funds in Business Checking Account.

Note: These are responsibilies are not final and can be revised  and changed at any time