|Job Title:||Finance Trustee|
|Salary:||0 - 0|
|Contact Name:||Nigel Tully|
|Job Published:||March 18, 2020 12:37|
Finance Trustee for the National Youth Jazz Orchestra
The National Youth Jazz Orchestra Limited (NYJO) is seeking to appoint a new finance trustee
NYJO was founded in 1965. From a single jazz orchestra of young professional musicians, NYJO has grown to be a multidimensional organisation, working in jazz education at all levels all around the country, and offering alternative routes to young musicians who want to play jazz. Having grown rapidly over the last decade to become the UK’s leading jazz educator, NYJO has an ambitious but realistic plan to double its activity level in the next 5 years, and to become known as the National Youth Jazz Organisation.
NYJO is a registered national charity and one of the Arts Council England’s national portfolio organisations.
More background about NYJO is set out in Annex 1
The vacancy has arisen due to the ill health of the current finance trustee. The appointee would initially work alongside the existing finance trustee but would be expected to take over after a handover period, to be mutually agreed.
The role is virtual with no specific location. However NYJOs office is located in Central London and the appointee is likely to need to visit the office and attend meetings in central London reasonably frequently including for board, budget and finance related meetings.
In accordance with charity commission standard practice the finance trustee role is not remunerated although reasonable expenses will be reimbursed.
The role encompasses the usual responsibilities of the financial trustee and board member of a medium sized charity to safeguard the organisation's finances and oversee all aspects of financial management.
A full description of the roles can be found in Annex 2
The finance trustee sits on the NYJO board. In addition to the specific finance responsibilities, the finance trustee will be expected to play a full role as a board director and trustee in accordance with charity and company regulations and governance best practice including ensuring that
- NYJO complies with its Articles and objects, charity law, company law and any other relevant legislation or regulations
- providing strategic direction setting overall policy, defining goals, setting targets, and evaluating performance against agreed targets
- safeguarding the financial stability , reputation and values of NYJO
NYJO has a current annual turnover of approximately £ 650,000 which it aims to grow to approximately £1.5 M by 2025.
Because NYJO’s annual turnover is presently less than £1 million the accounts are subject to independent examination rather than formal audit.
The current incumbent in effect combines the roles of finance trustee and hands on executive finance director. The appointee may need initially to perform both roles but is expected to undertake an early review in conjunction with the Executive Chair and make appropriate recommendations to the Board relating to the future finance organisation , structure, roles, resources and governance.
The level of time commitment required will vary depending on the outcome of the finance review The current roles takes approximately 6 days a month on average. This could reduce depending on the time the appointee is willing and able to commit and the outcome of the finance review. Applications are welcome from individuals who are able to devote between 5 and 8 days a month. Your cover letter should state clearly the amount of time you can commit to the role.
Trustees are expected to attend all board meetings and an annual awayday. Board meetings are held four times a year.
The role presently reports to NYJO’s Executive Chair, Nigel Tully MBE. A restructuring is planned in 2021 to split this role, with Nigel remaining as Chair and a new paid CEO reporting to him, after which the Finance Trustee role will report to the Chair. There is currently a close partnership between Nigel. and the Finance Trustee, and this is expected to continue
- UK chartered, certified or similar accounting qualification
- Previous board level experience
- Professional experience either as an accountant in private practice and/or a finance director
- Willingness and ability to devote the necessary time commitment (see above)
- An interest in the performing arts
Advantageous but not essential
- Experience of charity finance and Charities SORP
- Charity board experience, ideally of a fast-growing charity meeting a national need.
Like all trustees, the finance trustee must have:
- strategic vision
- good, independent judgement
- a willingness to speak their mind
- an ability to work effectively as a member of a team
- an understanding and acceptance of the legal duties, responsibilities and liabilities of trusteeship
Candidates should send a personal cover letter and CV by 15 April to Nigel Tully’s personal email address: firstname.lastname@example.org . They are welcome to arrange an informal telephone discussion prior to applying if they wish by emailing. Short listed candidates will be invited for interview which are expected to take place in central London in the week of 20 April.
Annex 1 : NYJO Background
Our 24-piece flagship Jazz Orchestra has helped launch the careers of many of the UK’s most- admired jazz singers and instrumentalists and remains the gateway to the profession for many stars of the UK jazz scene and countless musical theatre and session musicians. The band performs around 35 gigs each year, including recently the BBC Proms, the EFG London Jazz Festival, European tours with our German and Dutch counterparts BuJazzO and NJJO, and an annual residency at Ronnie Scott’s jazz club.
In 2019, NYJO launched the Jazz Exchange. The ensemble operates alongside the existing Jazz Orchestra and provides an alternative route into the profession for emerging talent who don’t see themselves in the traditional setting of a jazz big band. Coached by vibes player and award-winning instrumentalist Orphy Robinson MBE in a musician-led environment, the Jazz Exchange rewards creativity and individuality above technical sight-reading – allowing any western tuning instrument to take part.
Our professional ensembles are, however, just part of NYJO’s offering.
In London, the NYJO Academy offers improvisation and ensemble training from grade 5-standard upwards, through a combination of notated and aural groups. All our young musicians perform publicly at least six times a year, and the NYJO Academy hosts free monthly jazz jams for under 18s at Foyles Bookstore in Charing Cross Road.
NYJO’s major strategic priority over the coming years is to “level the playing field in jazz education” across the country, leveraging its undisputed experience base to generate a series of partnerships across the country in a way which is common in sport and classical music but relatively new to jazz.
Our Learning & Participation programme continues to grow, taking jazz around the country to places where it is often overlooked and inspiring young aspiring musicians through concerts and bespoke workshops that fit the area and its needs. Last year, NYJO engaged over 7,500 children and young people, through over 341 workshops.
Other ways in which NYJO seeks to level the playing field include :
The NYJO Regional Academies: regular, local, jazz education activities in areas where there is a lack of existing cultural engagement. Each RA is custom designed to meet local needs, providing skills development workshops and performance opportunities for students and Continuing Professional Development for local teachers. There are currently successful RA’s in Darlington, Penrith, Preston and Bradford-on-Avon, with Humberside going live later this year and Deal, Leicester and Coventry mong other actively planning to join them soon.
The NYJO Jazz Messengers: a diverse sextet which performs interactive school concerts for seven to 14-year olds, followed up with free/subsidised instrument lessons from the local Music Education Hub.
We still have much work to do as each area of the country faces its own unique challenges to diverse jazz participation. NYJO has a bold ambition to catalyse a national jazz education infrastructure, making a difference to the lives of thousands of young people across the UK and transforming the future of jazz This step-change in ambition will require a comparable step-change in resourcing and funding
Annex 2 : Role Description
To safeguard the organisation's finances and oversee all aspects of financial management including:
Board’s Financial awareness
- Ensuring that all board members understand their shared responsibility for financial oversight and accountability and advising them on how to meet that financial responsibility
- Facilitating and encouraging the board’s strategic thinking about the short and long term financial health of the organization
- Helping the board understand NYJO’s financial position and keeping it apprised of key financial events, trends, and concerns
- Ensuring appropriate and timely board review of statutory and management accounts and budgets
- Ensuring that all financial reporting requirements and deadlines are met in a timely and accurate manner
- Preparing management accounts on a quarterly basis for presentation to the Board, from underlying information prepared by the finance manager
- Preparing accounts for independent examination and liaising with the examiner, as required
- Advising on the organisation's reserves policy.
Financial management & planning
· Acting as line manager of the existing part time finance manager
· Preparing, budgets and forecasts that supports the organization’s goals and drives decision-making for review and approval by the board
· Regularly monitoring and comparing the actual revenues, costs and expenses incurred against such budgets and forecasts
- Ensuring effective monitoring and reporting around fund raising including reviewing fund raising forecasts and ensuring effective financial systems and controls around fund raising
Finance systems, controls, risk and compliance management:
- Ensuring that appropriate financial systems, controls and financial management policies are in place and enforced
- Ensuring that record-keeping and accounts meet the conditions of the board , funders, statutory bodies and relevant legislation
- Ensuring compliance with relevant legislation
- Regularly assessing, and appropriately mitigating, financial risks
· Ensuring NYJO complies with and fully benefits from relevant charity tax legislation including gift aid and orchestra tax relief
Treasury and cash management
- Overseeing bank accounts
- Investing funds
- Managing cash flow
- Ensuring required insurances are in place
Day to Day
- Dealing with day to day enquiries from Board members and staff such as salary reviews, restricted funds policy etc