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