The Turnaround Management Association (TMA) is a global non-profit organization comprised of turnaround and corporate renewal professionals with more than 8,300 members in 55 chapters, including 32 in North America. TMA members are a professional community that seeks to strengthen the global economy by working to save distressed businesses, assist management to navigate off-plan events, and help healthy companies avoid similar pitfalls.
TMA members work with companies to improve performance, manage disruption, restructure, work through insolvency, preserve equity, and drive significantly improved results.
TMA shows members value by providing networking, educational resources, and certification to members whether they practice at the local, regional, national, or cross-border level. TMA ensures that the critical role our members play in the global economy is understood, respected, and celebrated.
Who Are TMA Members?
43% - Turnaround practitioners who consult with or participate in helping troubled companies in the recovery process, including interim corporate managers, financial and operating advisors, accountants
20% - Attorneys
14% - Lenders and bankers/workout officers
3% - Investors, including equity investors, investment bankers, venture capitalists
20% - Other related professionals, including receivers, appraisers, trustees, auctioneers/liquidators, factors, academics/students, government/judges, and recruiters
The following core values reflects what is truly important to TMA as an organization:
Driving Business: Be the go-to source for industry networking opportunities.
Chapter-Centric: Ensure an active, vibrant, and consistent chapter experience.
Focus on Members: Create an inclusive community of engaged and diverse members who span varying professions, geographies, career stages, and deal sizes to achieve their goals.
Industry Expertise: Attract, represent, and develop industry experts through certification and professional development.
Knowledgeable and Professional: Be the central point for the exchange of timely market intelligence, business insights, and practice knowledge.
Inclusion: Maintain and enhance a multidisciplinary community of professionals and thought leaders. Create a culture of heightened interdisciplinary cooperation to help companies achieve their goals.
TMA offers members a wide variety of benefits and features including:
• Conference and Events
o TMA Distressed Investing Conference
o The TMA Annual
o Regional Events
o International Events
o Chapter Events
• TMA Certification Program
o Certified Turnaround Professional (CTP)
o Certified Turnaround Analyst (CTA)
• Journal of Corporate Renewal (the official publication of the TMA)
• TMA Institute (on-demand education)
o E-Learning Programs
• Body of Knowledge Courses
o Accounting & Finance
The Chief Executive Officer shall be the Association’s principal administrative Officer. The Chief Executive Officer shall be a salaried employee of the Association in charge of the daily administrative matters and operations of the Association and shall perform such other duties and have such other powers as may from time to time be assigned by the Executive Board or the President.
The Chief Executive Officer shall be specifically responsible for all management operations, business affairs and property, shall manage and direct all activities of the Association as prescribed by the Executive Board and serve as a non-voting member of the Board of Trustees and Executive Board, shall employ and may terminate members of the staff, fix their compensation within approved budget guidelines, supervise and evaluate their performance, establish titles and delegate responsibilities as determined by the Chief Executive Officer to be in the best interests of the Association, and shall function as assistant Secretary or assistant Vice President-Finance at the discretion of the Executive Board.
The CEO’s primary goals for the immediate term shall be:
Development and implementation of strategic initiatives in furtherance of TMA’s core values approved by the Executive Board in 2016.
Renewed focus on strengthening North American Chapters, including North American membership.
Continuing to strengthen international chapter relationships.
In addition to fulfilment of the goals and objectives set out above, the CEO shall have the following duties to TMA:
Provide, in conjunction with TMA’s management team and with the approval of the Executive Board, the overall vision and the strategic planning for TMA and the execution of its mission.
In consultation with the Operations Committee, establish and implement specific implementation steps and milestones for the implementation of the Strategic Initiatives, and allocate specific TMA staff and volunteer leadership as may be required to implement such steps within the timelines established for completion of such steps.
Provide written updates and progress reports to the Executive Board on each of the major components of TMA’s Strategic Initiatives monthly or as frequently as may be requested by the Operations Committee or the Executive Board.
Provide a leadership role in TMA’s relationships with its members, chapters, and major sponsors, to enhance TMA’s reputation.
Assume the lead role in reaching out to like-minded peer organizations to develop strategic partnerships that advance TMA’s core mission.
Represent TMA in North America and internationally as one of the official representatives of the organization.
Articulate TMA’s positions, communicating the mission of TMA, while working to increase the organization’s visibility and brand recognition with a wide variety of audiences that have differing knowledge of TMA and its industry issues.
Actively promote TMA at its annual conferences, global conferences and certain regional and chapter conferences and programs.
Oversee the development and implementation of an effective revenue generating plan to enable the organization to grow and to implement TMA’s Strategic Initiatives.
Oversee an aggressive membership development and membership retention plan.
Play an active role in developing sustainable non-dues revenue streams.
Play an active role in recruiting and maintaining diversified donors from member categories to include: foundations, individuals, corporations, and other giving entities.
Play an active role in recruiting and maintaining diversified sponsors.
Oversee daily administrative functions such as fiscal planning, budgetary oversight, and human resources with complete and sole authority to hire and terminate all TMA staff subject to prior notification of President with respect to senior staff.
Supervise, lead, inspire and mentor the members of the TMA staff to meet TMA’s Strategic Initiatives and to fulfill its organizational mission statement as approved by the Executive Board in 2016.
Foster an environment of continuous improvement on all levels such that TMA is recognized as a leading association in all respects.
Establish a culture that makes the staff want to come to work each day to provide the best customer service, growth opportunities and value for TMA members.
Foster a supportive, team oriented, environment where independent thinking is encouraged, and staff are held accountable to specific metrics and goals.
Chapter and Board Relations
Liaise closely with Chapter Leadership, the Executive Board, and the Board of Trustees and its established committees on issues of strategy, overall direction, governance, advocacy and resource development.
Liaise closely with chapters, with a focus on North American Chapters, to understand chapter needs and issues and to ensure consistency of TMA mission statement and brand, including, where possible given the Executive’s other duties:
o Attend at least fifty percent (50%) of regional North American conferences or as otherwise established by the Executive Board each year.
O Visits or presentations at chapter boards or at chapter events in at least five (5) different North American chapters each year or as otherwise set out by the Executive Board.
Help to ensure that TMA has a strong, effective, and diverse Executive Board, Board of Trustees, and Committees that represent an ongoing infusion of new members, talents, and resources and is consistent with TMA’s Diversity and Inclusion Policy.
Serve as a corporate director of TMA Europe and provide appropriate oversight and guidance to TMA Europe’s Executive Director and management.
Serve as a board member of the EACTP or designate a replacement from TMA senior staff.
Oversee the branding and re-branding and marketing needs of TMA.
Supervise the protection of the brand.
TMA’s future CEO will be a respected and credible leader with a track record of delivering results, and an unwavering commitment to TMA’s mission. The CEO will be a senior-level professional with executive leadership experience of an organization and staff of similar or larger size and complexity. S/he will grow TMA’s membership, enhance the engagement of members, and work with the membership and the Board to advance TMA’s strategic objectives. Successful candidates will possess the following qualifications for the role:
Seven to ten years of leadership experience in a complex global organization.
Established relationships within the industry and experience with turnaround management / distressed companies will be strong advantages.
Deep understanding of and leadership within Associations & Nonprofits.
Experience in organizations that possess Members, Chapters, and Volunteer Leadership.
Demonstrated experience with developing and implementing strategic plans.
Experience partnering with Board of Trustees and Executive Committees.
Demonstrated ability to think creatively and entrepreneurially, employing a strategic and forward-thinking mindset.
Excellent written and oral communication skills with ability to promote open communication among volunteer leadership, staff, and members.
Excellent project management, leadership, time management, and organizational skills.
A proven track record of innovative thinking, tackling challenges, and changing organizations for the better.
Ability to understand and work collaboratively with a wide array of professionals both nationally and globally.
Champion of professional development, career growth, and advancement.
Governance minded; well versed in engaging with volunteers and political awareness.
Shall be expected to travel with in the U.S. and internationally as may be required to perform Executive’s duties.
For candidates with careers within Turnaround Management, it will be important to have:
Demonstrated experience in managing and leading a large/diverse organization.
Demonstrated experience serving on a Board with a leadership role.
For candidates with careers in Association Management, it will be important to have:
Demonstrated understanding of the profession, ideally experience working with turnaround professionals or advisory firms.
Demonstrated passion to understand/learn about the profession and its trends, as well as the ability to be a passionate advocate for the profession and TMA’s objectives.
Bachelor’s degree from an accredited institution is required. A Master’s degree is highly preferred. Certification in a relevant industry or association field would be desirable, but not required.
A competitive compensation package will be offered to the finalist candidate.
TMA Diversity & Inclusion Statement
In principle and in practice, TMA and its chapters value and seek diversity and inclusiveness. TMA welcomes all industry professionals as members, leaders, and participants consistent with the organization’s diversity values.