Volunteer Volunteer Independent Member (Finance) of Risk, Audit and Finance Committee

What will you be doing?

As a member of RAFT responsibilities include, but are not limited to:

Overseeing and presenting budgets, accounts and financial statements, and recommending these for approval by the Trustee Board.  Being assured that the financial resources of the organisation meet its present and future needs. Ensure that the charity has an appropriate reserves policy. Ensure that appropriate accounting procedures and internal controls are in place. Monitor the assessment of risks to which the organisation is exposed, to ensure management monitor and report on emerging risks and implement controls to mitigate these risks. Monitor implementation of measures agreed necessary to effectively manage key risks. Receive reports from management on control issues and lapses and to review proposed management action arising from these reports, in conjunction with the Treasurer. Liaising with finance team staff about financial matters. Advising on the financial implications of the organisation’s strategic plans. Ensure that the charity has an appropriate investment policy. Ensure that there is no conflict between any investment held and the aims and objects of the charity. Monitoring the organisation’s investment activity and ensuring it is consistent with the organisation’s policies and legal responsibilities. Ensure that the accounts are prepared and disclosed in the form required by funders and the relevant statutory bodies, for example the Charity Commission and Companies House. Ensure the organisation is compliant with its duties regarding HR, employment law and health and safety regulations. Ensure that the accounts are scrutinised by an audit and any recommendations are implemented. Keeping the Treasurer and Trustee Board informed about their financial duties and responsibilities. Contributing to the fundraising strategy of the organisation. Sitting on appraisal, recruitment and disciplinary panels as required. Engaging with annual self-assessment procedures of the RAFT Committee.

What are we looking for?

The Independent Member (Finance) should have the following qualities.

Financial qualifications and experience Experience of charity finance, fundraising and governance. The skills to analyse proposals and examine their financial consequences. Good communication skills to enable their views to be understood by all members of RAFT. Being prepared to make difficult or unpopular recommendations to RAFT. A willingness to be available to staff for advice and enquiries on an ad hoc basis. A commitment to prepare for and attend five RAFT meetings per year.

What difference will you make?

The Independent Member (Finance) will provide a positive contribution to the Risk, Audit and Finance (RAFT) Committee of the Board, by providing independent oversight and constructive challenge to the Trustees. The Independent Member (Finance) will bring independence to proceedings, in assisting with business strategy and ensuring that risks are managed effectively.