Communicate strategic value of business aviation.
- Identify unique capabilities of business aviation to achieve company goals (e.g., time savings, safety/security, access capability)
- Identify the characteristics and needs of the internal and external stakeholders
- Apply various communication techniques and tools to convey message of value to a broad audience (e.g., community, peers, team members, executives)
- Methods to promote discussion regarding key issues (e.g., appropriate operational structure, security, compliance, safety, tax requirements)
Implement the appropriate aircraft ownership, tax considerations and operational structure.
- Recognize applicable Civil Aviation Authority (CAA) requirements and issues (e.g., cost sharing, operational control, foreign registered aircraft)
- Recognize applicable international and federal tax implications (e.g., international value added taxes, federal fringe benefit rules, expense disallowance rules, characterization of employee for tax calculations)
- Recognize applicable state and local tax implications (e.g., registration fees, property taxes, sales and use taxes)
- Recognize risk management considerations (e.g., applicable liability, property and worker’s compensation insurance coverages, acceptable risk tolerances and mitigation, principles of valuation, business continuity)
- Identify components necessary to develop and implement corporate policies and strategies (e.g. time share agreements, SIFL)
- Describe the applicable aviation authority, tax and risk management considerations to company subject matter experts
Create, implement and manage budgeting and financial processes.
- Recognize and apply generally accepted accounting principles (e.g., valuation and depreciation, use of general ledger)
- Identify aviation department budget components including immediate and forecasted (e.g., life cycle, maintenance, training, depreciation, fixed and variable costs)
- Create budget based on accounting principles, budget components and forecasted aircraft use
- Implement strategies to align the aviation department budget into the overall company budget and financial systems
- Utilize periodic financial and accounting reports to monitor budget progress (e.g., budget vs. actual, run rate, profit & loss, balance sheet) and implement strategies for controlling revenues and expenses
- Identify permitted cost allocation and recovery plans (e.g., charge backs, warranty)
- Determine applicable regulatory requirements (e.g., Sarbanes-Oxley, Foreign Corrupt Practices Act [FCPA])
- Determine and apply internal and external controls and audits using expertise within department and company
Manage aviation department in line with strategic and tactical goals.
- Identify necessary elements, resources and strategies for implementing aviation department goals
- Incorporate a series of tactical plans to achieve strategic goals
- Apply principles of benchmarking for goal and business plan achievement
- Compare department results to goals and benchmarking data
- Identify any required modifications to tactical plans
Implement procedures using company policies to safeguard information and intellectual property of the company.
- Recognize necessity for maintaining a high degree of integrity and personal accountability (e.g., code of conduct, ethics, discretion, social media)
- Identify key elements and intent of confidentiality requirements (e.g., nondisclosure agreements, contractual obligations, personal electronic devices)
- Apply internal and external policies and procedures regarding safeguarding relevant information (e.g., record retention, document security)
- Identify legal requirements and protections governing intellectual property and proprietary information
Employ methods to optimize overall aviation department asset utilization and efficiency.
- Identify principles of cost-benefit analysis (e.g., net present value, internal rate of return, capital investments)
- Conduct travel analysis (e.g., company-owned aircraft, airline, charter, fractional ownership programs)
- Measure, evaluate, and report on use of assets (e.g., aircraft, personnel, facilities, equipment, technology)
- Identify principles in a comprehensive asset utilization audit (e.g., tax, corporate governance, fleet analysis)
- Recognize benefits of utilizing applicable transaction and business resources (e.g., brokers, tax and regulatory counsel, maintenance representation at pre-purchase inspection, supply chain)
- Identify applicable contract terms, conditions, and clauses in support of vendor negotiation strategies
Manage the aviation department in a sustainable responsible manner.
- Identify environmental impact and abatement (e.g., emissions, noise, hazardous materials)
- Recognize importance of managing community relations (e.g., educate, advocate, communicate, volunteerism, charity, careers in business aviation)
- Identify the value of engagement with local/regional aviation groups and airport authorities
Identify, develop and describe steps to implement an organizational risk management strategy.
- Recognize basic risk management principles (e.g., history of risk management; types, assessments and responses to possible risks)
- Identify and categorize specific risks potentially facing an organization with respect to the aviation function (e.g., civil-liability risks; regulatory compliance risks; tax planning risks)
- Develop specific responses available to address each identified risk (e.g., avoid, reduce or mitigate, share or insure against, accept, exploit)
- Determine organization’s existing risk management structure and communicate aviation risks and responses