18 days ago
This is an opportunity to join the Lumos Foundation’s UK Board of Trustees as Treasurer. The Treasurer monitors the financial administration of the charity and reports to the Trustees at regular intervals on its state of financial health, in line with best practice, and in compliance with the governing document and legal requirements.
The Treasurer role is likely to require a regular commitment of 2 days per month. The ideal candidate should have senior experience of managing finances. Experience and knowledge of charity accounting, charity investments and managing foreign currencies would be an advantage.
If you are committed to protecting and empowering the world’s most vulnerable children, join us.
For more information please see the below role description.
Named after the light-giving spell in Harry Potter, Lumos is an international children’s organisation founded by J.K. Rowling in 2005. We have a bold mission: to have a world without institutions and orphanages by 2050. Research shows the dramatic harm that institutional care causes to children and the proven benefits of the alternatives: community and family care.
Lumos tackles the root causes of family separation – poverty, trafficking and discrimination – and transforms care systems around the world. We speak up on behalf of children trapped in institutions and work with others to reunite them with their families. And we help to change education, health and social care systems so every child can thrive.
Monitor the financial administration of the charity and report to the
board of trustees at regular intervals on its state of financial health, in
line with best practice, and in compliance with the governing document
and legal requirements.
- Ensure, in close cooperation with the Executive Leadership Team (ELT), that an appropriate financial policy framework is in place to guide the charity’s financial decision-making.
- Develop a close understanding of the key assumptions included in management’s medium-term financial plan and annual budget proposals. Provide advice to trustees on these matters.
- Advise trustees on major financial issues which arise, and which are outside the agreed boundaries of management authority, e.g. a proposed major new fundraising initiative or contract for service provision
- Attend scheduled annual meetings with the auditor and at any other times as might be necessary.
- Chair and provide financial acumen and expertise to the Finance and Investment committee. Other committee responsibilities may arise as a result of a Governance Review which is being conducted.
- Lead the board’s duty to ensure that proper accounting records are kept, financial resources are properly controlled, invested and economically spent, in line with good governance, legal and regulatory requirements.
- Lead in the development and implementation of financial reserves, cost‐management and investment policies.
- Monitor the charity’s investment portfolio and ensure that resources are being invested in line with investment policies, working with investment managers as required.
- Oversee the implementation of and monitoring specific financial controls and adherence to systems.
- Advise on the financial implications of the charity’s strategic plan.
- Develop a full understanding of how the charity’s annual budget relates to the strategy and present it to the Board.
- Develop an understanding of Lumos’s programmes and the financial implications associated with them.
- Ensure audited financial statements are presented to the Board and filed within the statutory deadlines on an annual basis.
- Present the audited accounts at the charity’s annual general meeting.
- Provide support and advice to the Chief Executive and other relevant senior members of staff.
- Act as a signatory on the bank and investment portfolios.
- Approve large value contracts and payments under the Delegated Authorities Schedule.
This is an honorary role which is likely to require a regular commitment of 2 days per month (following the initial induction period). The ideal candidate should have senior experience of managing finances. Experience and knowledge of charity accounting, charity investments and managing foreign currencies would be an advantage.