Role Summary
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Monitor the financial standing of the charity and reports to the Board and CEO regarding cash-flow forecasting, income streams, out-going expenses and the overarching strategic management of the organisation’s financial resources.
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Oversee the charity’s financial risk-management process and report financial health to the board of trustees at regular intervals.
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Acts as a counter signatory on cheques and applications to funders and ensure that annual accounts are submitted to all relevant regulators in a timely fashion.
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Liaising with external auditors on financial issues and ensuring that the organisation's finances are responsibly managed/invested for the betterment of the organisation’s work and for the beneficiaries it serves.
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Understand this is a voluntary post
Main Responsibilities of the Treasurer
In relation to Finance
Budgeting and strategic financial planning
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Ensure all strategic plans are financially appraised and budgets are aligned to both short-term and long-term objectives each year.
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Oversee planning/budgeting processes in participation with the Board and constructively challenge where required.
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Suggest alternative scenarios while evaluating strategic plans as a part of the risk management process and as a part of performance and reporting scenarios.
Management Reporting
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Ensure a high standard of management accounting is maintained in order to safeguard assets
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Statutory Financial Reporting
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Board level liaison with external auditors on specific issues in the auditing process and related board representations.
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Guide and advise fellow trustees to formally approve the annual report and audited accounts.
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Explain technicalities of accounts in plain language which is fully understood by the trustees.
Reserves Policy
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Develop reserves policy and safeguard the organisation’s finances.
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Keep the board informed of free reserves position regularly and advise to cope with changing circumstances.
In relation to Governance
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Lead the Board’s duty to ensure proper accounting records are kept, financial resources are controlled, invested and economically spent in line with governance, legal and regulatory requirements.
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Chair finance committees in line with standing orders and terms of reference and reporting findings/developments back to the Board of trustees.
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Advising on the financial implications of the charity’s strategic plans and overseeing the charity’s financial risk-management process.
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Lead in the development and implementation of financial reserves, cost management and investment policies.
Person Specification
Essential
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Qualified accountant with demonstrated commercial awareness and knowledge.
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Competent use of IT skills.
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Proven ability to communicate and explain financial information to members of the Board and other stakeholders.
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Analytical and evaluation skills, demonstrating good judgement.
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Understanding and acceptance of the legal duties, responsibilities and liabilities of trusteeship.
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Good communication and leadership skills
Desirable
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Demonstrated knowledge and experience of charity fundraising and finance practices.
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Dedicated to the organisation’s cause and objectives and willing to act as the charity’s ambassador to external bodies, charities and companies.
- Skills and experience in one or more areas of non-executive governance and management e.g. strategic planning, business management, financial/accountancy, understanding of HR issues, an experience of Trusts or other grant-giving bodies particularly fundraising and legal problem-solving team-oriented approach to problem-solving and to management.
Time Commitment
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The Board meets at least 4 times a year and the finance trustee is expected to be available at least 3 times in a year. If unable to attend they must make arrangements
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You will be a member of a sub-committee which will meet 2 times in a year
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Attendance at award meetings or fundraising meetings is optional