Audit & Risk Committee Member
|Job Title:||Audit & Risk Committee Member|
|Salary:||0 - 0|
|Contact Name:||Angela Ensten|
|Job Published:||February 13, 2020 13:02|
This is an interesting volunteering opportunity to support the DfE’s Arm’s Length Body in its delivery of vocational training to the engineering construction industry. The commitment is just 4 days per year but you would bring your strategic thinking, strong analytical skills, and commercial perspective to the business. A qualified accountant, or risk management specialist, or experienced manager of IT systems/departments, your senior level and extensive background will be in audit, risk management, and compliance. It almost goes without saying that your communications skills will be honed to build collaborative relationships and provide independent oversight, advice, and constructive challenge to the CEO and Board. Ideally you will have an understanding of the constraints and culture of the public sector.
Your role as an independent member is to ensure that high-quality risk assessment and mitigation is embedded into financial and non-financial management processes, and that relevant counter-fraud measures are fit for purpose. Essentially this means good governance, a compliance culture, accurate financial reporting (in line with charity and government accounting policies), and an effective financial control framework. Specifically, you will be reviewing internal audits, NAO audits, and the risk management policy.
The Committee consists of members appointed by the Main Board. The Chair will be a Main Board member (but not the Chair of the ECITB). Each member must act with independence and objectivity and should have or develop a sound understanding of the objectives and priorities of the ECITB. The appointment will be for a period of three years extendable by only one additional three-year period subject to approval by Accounting Officer in conjunction with the Chairman.
The Engineering Construction Industry Training Board (ECITB) is a statutory body and reports to its government sponsor body, the Department for Education (DfE). The ECITB is established for exclusively charitable purposes and is a registered charity. It has responsibilities to Parliament and to the engineering construction industry. It was formed in recognition of the industry's vital role in the UK economy, and the requirements for a statutory body to undertake the responsibilities of meeting the special training needs of an industry where the labour force is highly mobile and where there is less opportunity for individual employers to train.
The ECITB works closely with employers and the Government to attract develop and qualify engineering construction personnel in a wide range of craft, technical and professional skills and disciplines. Managing a national skills training fund, the ECITB invests about £25m each year in providing the advice, information and support to engineering construction employers. The ECITB also sets industry standards for competence and health & safety, and works with a wide range of stakeholders to build a sustainable and competitive workforce for the future.
To apply, please submit your CV and a covering letter to email@example.com by 4pm Thursday 20 February 2020.
Audit & Risk Committee Member - The role
Members of the Audit & Risk Committee (ARC) help support the Board and Chief Executive Officer as Accounting Officer by providing appropriate independent oversight and advice to give appropriate assurance to them that:
- High quality risk assessment and mitigation is embedded into financial and non-financial management processes and that relevant counter fraud measures are fit for purpose;
- Overall Governance arrangements are appropriate and operating effectively;
- Financial reporting is prudent, accurate, appropriate and consistent with charity and governmental accounting policies;
- The financial control framework is effective, supported by a compliance culture producing timely, prudent, appropriate and consistent internal financial and performance reporting;
- Internal Audit assurance provides an appropriate level of comfort to the Accounting Officer; and
- Relationships with the National Audit Office are effective.
The specific duties of the Audit Committee are:
- To support the Board in defining ECITB’s risk appetite and review and monitor its appropriateness against Strategy.
- To review the ECITB’s Risk Management Policy and recommend it to the Board for approval. To review and monitor its implementation;
- To review the ECITB's financial statements and reports to ensure that they reflect best practice;
- To review the nature and scope of each forthcoming audit and to ensure that the external auditor has the fullest co-operation of staff;
- To consider all relevant reports by the appointed external auditors, including reports on the ECITB's accounts, achievement of value for money and the response to any management letters;
- To ensure that the internal auditors monitor the effectiveness of the ECITB's internal control system established to ensure that the aims, objectives and key performance targets of the ECITB are achieved in the most economic and effective manner;
- To ensure that the ECITB's internal audit service meets, or exceeds, the standards specified in the Government Internal Audit Manual, complies in all other respects with these guidelines and meets agreed levels of service;
- To consider and advise the Board on the ECITB's annual and long-term audit programme;
- To consider any internal audit reports, including value for money reports and the arrangements for their implementation;
- To review the operation of the ECITB's code of practice for Board members and code of conduct for staff;
- To review the operation of the Board's procedures for ensuring the independence and integrity of its systems for awarding qualifications;
- To consider any other matters where requested to do so by the Board;
- To report at least once a year to the Board on the discharge of the above duties.
The Committee consists of members appointed by the Main Board. The aim is to have between 5 and 7 members of whom 2 or 3 are not members of the Board. The Chair will be a Main Board member and should not be the Chair of the ECITB. Each member must act with independence and objectivity and should have or develop a sound understanding of the objectives and priorities of the ECITB. The appointment will be for a period of three years extendable by no more than one additional three-year period subject to approval by Accounting Officer in conjunction with the Chairman.
The successful candidate should demonstrate the following:-
- EITHER Qualified accountant , ACCA or similar with senior level financial experience e.g. as a partner in an accountancy practice, Finance Director or CFO or at an equivalent level elsewhere in the private or public sector;
- OR Risk management specialist ideally from a professional or support services environment.
- OR have experience in the management of IT systems or departments.
- In depth experience of audit, compliance and risk management (as appropriate to his/her specialism)
- Experience of commercial contractual relationships, with knowledge of related procurement if possible;
- Ability to operate strategically as an effective member of the Committee and contribute positively to the organisation in a non-executive capacity;
- Strong analytical skills, judgement and decision-making;
- Ability to build productive and collaborative relationships with people across and outside the organisation;
- Good communicator with an enquiring mind and a willingness to challenge constructively;
- A strong customer awareness and track record of delivery;
- Support for the Vision of ECITB: ‘To be the industry authority on engineering construction skills, working in partnership with business and government to deliver a diverse and highly skilled workforce, offering value by enabling industry to compete globally’,
- To have or to obtain an understanding of the Engineering Construction Industry
The following are desirable:
- Commercial and/or Private Sector experience,
- Experience of high-volume on-line payment and data management systems and IT security,
- Experience and Awareness of managing change; and
- An understanding of the advantages, constraints and culture of the public sector.