ILA Fund Governance Masterclass - Testimonials From Participants
Tracey McDermott, Non-Executive Director | Yann Power, Non-Executive Director | Mireille Kiffer, Non-Executive Director | Sean Chinnock, Non-Executive Director | Jan Stig Rasmussen, Non-Executive Director
The first cohort of the ILA Fund Governance Masterclass completed the course in early February 2023, and three graduates Jan Stig Rasmussen, Mireille Kiffer, and Sean Chinnock gave their feedback. Course co-creator Yann Power was on hand to give some context, with Tracey McDermott in the chair.

“The fund governance masterclass is fundamentally about helping directors of investment funds and investment fund managers ask the right questions, to understand the answers to these questions, and to take the right action when necessary on the basis of responses to those questions,” said Mr Power. The course explains fund structures, the role of service providers, directors’ responsibilities and liabilities, investor expectations and more.
He added that this programme will continue to evolve, with the second course due to start in September this year featuring enhanced emphasis on technology challenges and the directorship lifecycle. Directors can choose to take all ten modules to qualify for the full ILA certification, or they can cherry-pick those sections that suit their needs.

After a broad, fund industry-focused career, Mr Rasmussen wanted to sharpen his governance knowledge. He appreciated the comprehensive nature of the course which “offers a unique opportunity to focus fully on a topic for eighty hours over two weeks.” Being able to earn certification was also a key motivation for him.

For Ms Kiffer, the course provided a bridge between being a fund industry executive and a non-executive. “I had been on fund boards previously, but this course enabled me to reflect on the specific role of the independent director. I also welcomed being able to benefit from the experience of the around 60 experts who animated the sessions,” she said.

After 20 years as a financial sector technology professional, Mr Chinnock knew enough to be aware of the gaps in his fund industry governance knowledge. “For example, I have a strong background in risk management, but still I gained more focused insight about this topic related to how funds operate,” he said. He also appreciated being able to talk to so many governance specialists about how they approach their roles.

Asked what they found to be the most useful aspects of the course, all three cited the case studies, which presented in an accessible manner real-life challenges related to a variety of fund structures. They also enjoyed the comprehensive nature of the courses, backed up with an information pack that they continue to use.

“The course is not only about understanding the technicalities,” said Ms Kiffer, “it's also about talking to others to see how they approach things.” Each cohort forms a network, with these relationships building as experiences continue to be shared after graduation. For information about up-coming programmes, contact

Fund Governance Masterclass Networking Cocktail: Pictures
08 February - INNSiDE by Meliá