Honorary Treasurer

1.     Background

A background in Finance, Strategy and Governance, Fundraising, Legal, Risk

2.     Role Summary

Works closely with the Chair, Clinical Director and the board of Trustees

-      Monitor the financial standing of the charity and reports to the Board and Clinical Director regarding cash-flow forecasting, income streams, out-going expenses and the overarching strategic management of the Trust’s financial resources.

-      Oversee the Trust’s financial risk-management process and report financial health to the Board of trustees at regular intervals.

-      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.

-      Liaising with external auditors on financial issues and ensuring that the Trust’s finances are responsibly managed/invested for the betterment of the Trust’s work and for the beneficiaries it serves.

3.     Main Responsibilities of the Treasurer

In relation to Finance

Budgeting and strategic financial planning

·      Ensure all strategic plans are financially appraised and budgets are aligned to both short-term and long-term objectives each year.

·       Oversee planning/budgeting processes in participation with the Board and constructively challenge where required.

·       Suggest alternative scenarios while evaluating strategic plans as a part of the risk management process and as a part of performance and reporting scenarios.

·       Create greater transparency and accountability to improve resource allocation and charity’s image by adding specific measures as per SORP guidelines.

Management Reporting

·       Ensure a high standard of management accounting is maintained in order to safeguard assets.

·       Liaise with Finance Director and trustees to prepare and produce management accounts regularly.

Statutory Financial Reporting

·       Board level liaison with external auditors on specific issues in the auditing process and related board representations.

·       Guide and advise fellow trustees to formally approve the annual report and audited accounts.

·       Explain technicalities of accounts in plain language which is fully understood by the trustees.

Reserves Policy

·       Develop reserves policy and safeguard the organisation’s finances.

·      Keep the board informed of free reserves position regularly and advise to cope with changing circumstances.

In relation to Governance

·      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.

·      Chair finance committees in line with standing orders and terms of reference and reporting findings/developments back to the Board of trustees.

·      Advising on the financial implications of the charity’s strategic plans and overseeing the charity’s financial risk-management process.

·      Lead in the development and implementation of financial reserves, cost management and investment policies.

4.     Person Specification

Essential

·       Qualified accountant with demonstrated commercial awareness and knowledge.

·       Knowledge of charity SORP and impending changes.

·       Competent use of IT skills.

·       Proven ability to communicate and explain financial information to members of the Board and other stakeholders.

·       Analytical and evaluation skills, demonstrating good judgement.

·       Understanding and acceptance of the legal duties, responsibilities and liabilities of trusteeship.

·       Good communication and leadership skills

Desirable

·       Demonstrated knowledge and experience of charity fundraising and finance practices.

·       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, experience of Trusts or other grant giving bodies particularly fundraising and legal knowledge.

·       A team-oriented approach to problem solving and to management.

5.     Time Commitment

·       The Trustees meet at least 4 times a year and the Treasurer is expected to be available 3 times in a year        

·       Attendance at award meetings or fundraising meetings is optional

6.     Location

Trustee Meetings are held online or at the Trust’s offices at Imperial College, London