Volunteer Trustee - Treasurer
|Job Title:||Volunteer Trustee - Treasurer|
|Salary:||Voluntary, expenses paid|
|Reference:||LRS - Treasurer 2019|
|Contact Name:||Naomi Kingsley|
|Job Published:||May 23, 2019 12:43|
London Rebuilding Society (LRS) Treasurer: Specific responsibilities and Person Specification
Role Title: Treasurer
Direct Report: Works closely with the Chair, Chief Executive (CEO), Head of Finance (HoF), and the Board of Directors.
Background: Finance, Strategy and Governance, Fundraising, Legal, Risk.
- Oversee the monitoring of the financial standing of London Rebuilding Society, and reporting to the Board by the HoF, regarding cash-flow forecasting, income streams, out-going expenses and the overarching strategic management of the LRS’s financial resources.
- Oversee the LRS’s financial risk-management process and report financial health to the board of trustees at regular intervals.
- Acts as a counter signatory on and ensure that annual accounts are submitted to all relevant regulators in a timely fashion.
- Engaging with external auditors, working with the HoF, on financial issues and ensuring that the LRS’s finances are responsibly managed / invested for the betterment of LRS’s work and for the beneficiaries it serves.
- Presenting the Year End Financial Statements to the Members of LRS at the Annual General Meeting
- 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.
- Work with the HoF, and CEO to oversee the 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 LRS’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 HoF and Directors 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 with HoF and CEO, 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; and the necessary control mechanisms are in place to give the board assurance.
- Chair Finance, Audit and Remuneration Committee in line with terms of reference and reporting findings/developments back to the Board of Directors.
- Advising on the financial implications of LRS’s strategic plans and overseeing the LRS’s financial risk-management process.
- Lead in the development and implementation of financial reserves, cost management and investment policies.
3.0 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 social enterprise, Co-operative and Community Benefit Society, and charity fundraising, investment and finance practices.
- Dedicated to the organisation’s cause and objectives and willing to act as the
- LRS’s ambassador to external bodies, public, private, charitable and social enterprise.
- 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.