Effective communication is one of the key fundamentals of good leadership and virtually a requirement for C-suite executives. After all, it’s difficult to be a leader if you can’t give good directions. Despite this truism, the Wall Street Journal recently reported that companies say it’s becoming increasingly difficult to find applicants who can communicate clearly, take initiative, problem solve, and get along with co-workers—the so-called “soft skills.” Strong communication skills are particularly important in the capital markets and investment management industries, where finance professionals constantly interface with clients and prospects. Whether you’re presenting to internal or external stakeholders, pitching a new idea, or simply working on a team, being able to express yourself and articulate your vision in a clear and persuasive fashion is a huge skill to have.

The Toronto Financial Analyst Toastmasters (TFAT) is a local chapter of Toastmasters International (TI), a non-profit educational organization that teaches public speaking and leadership skills. TI was founded in 1924 and has since grown into a worldwide network of more than 16,000 clubs with more than 300,000 members. TFAT members meet twice a month for an hour at Toronto CFA Society headquarters and represent a diverse group of investment professionals looking to improve their communication and leadership skills. While professional development is the focus of the meeting, it’s also an opportunity to have fun and network with local investment professionals.

Although the meeting agenda varies from week to week, each session usually begins with an introduction by the group leader, followed by a warm-up game called Table Topics. The majority of the meeting is then dedicated to two preassigned speakers who deliver a prepared speech on a topic of their choice. The broader group is responsible for evaluating the technical aspects of each speech and providing constructive feedback.

The Topic Master, which is a rotating position, kicks off Table Topics by picking a random theme and inviting other members to stand up and speak aloud for one to three minutes. Each participant can say whatever he or she likes on the subject; the goal is to speak continuously without pausing, stuttering, or hemming and hawing. A past topic this year was the Rio Olympics. Members spoke on a range of issues, from being inspired by various athletes, to some of the more obscure Olympic sports and showboating celebrations.

On the surface, Table Topics is a fun, simple game, but each participant is actually practising a very important communication skill: improvisation. Being able to think both spontaneously and creatively is a key element of conversation; after all, every conversation is an improvisation at its core. Refining these skills allows you not only to communicate while thinking on your feet, but also to generate ideas more fluidly, naturally improving the structure of your storytelling.

After the warm-up, the pre-assigned speakers have an opportunity to address the group. Although there are only two designated speakers, other members still assume various roles.

• Grammarian: He or she is responsible for listening to the speakers and recording any verbal blemishes, such as ums and ahs, in their speech. The grammarian is also responsible for introducing the Word of the Day (e.g., pugnacious). Speakers who can incorporate that word into their prepared speeches are rewarded: members knock their fists on the tables.
• Timer: This member is responsible for timing the two speakers to ensure they stay within their allotted time. Timing is critical to the process, as speakers require discipline to communicate their message in a direct way. We’ve all been victims of meetings that have gone overtime—without discussing the key items on the agenda.
• General Evaluator: The general evaluator introduces the two evaluators and offers concluding remarks on the two speeches and the session as a whole.
• Evaluator #1 & #2: The two evaluators are responsible for analyzing the speech for structure, content, and delivery. They also observe body movement, gestures, and facial expressions to ensure these enhance or clarify the speaker’s overall message. And, all member participants provide feedback by filling out a questionnaire for the speakers to review after the session.

The evaluators highlight some of the strengths in both speeches and identify key areas for the speakers to work on. Becoming a good public speaker is a very iterative process that requires practice. Like most disciplines, good communication is a balance between an art and a science, where a solid understanding of the more technical components of a good speech and speaker is one of the keys to becoming a good speaker yourself. That’s why being an evaluator and a group participant is just as beneficial as being a pre-assigned speaker.

Bottom line, effective communication is essential to generate results in business and TFAT equips its members with the skills to address an audience and make meaningful impressions. By regularly giving speeches, gaining feedback, leading teams, and guiding others to achieve their goals in a supportive atmosphere, new leaders are emerging from TFAT and bringing these skills to their profession on a daily basis. But if that’s not enough to make you interested, the Wall Street Journal recently reported that good storytellers may be happier in life and may even be viewed to be more attractive by the opposite sex.

CLUB DETAILS: Club membership fees are $72 for a six-month term plus a one-time $30 registration fee. The club meets every second and fourth Monday of the month from 5:30 p.m. to 6:30 p.m. at CFA Society Toronto offices. If you’re interested in joining, contact tfatoastmasters@gmail.com.