Salary/Rate: Volunteer position with reasonable travel/subsistence expenses reimbursed for approved travel associated with the role
Duration: 3 year term of office (with possibility to extend)
Location: Home-based (with occasional travel)
Reporting to: Chair of the Board of Trustees
Start Date: Autumn 2023
We’re looking for a Treasurer who’s skilled in budgeting and strategic financial planning, has experience of management and statutory financial reporting as well as being familiar with creating a reserves strategy to help safeguard the The Foyer Federation’s future. In this role you'll:
- Liaise with the Strategic Finance Lead and members of the SLT, acting as a critical friend and ambassador for the Board on matters relating to the financial health of the charity. receive and monitor the financial standing of the charity and report to the Board regarding cash flow forecasting, income streams, outgoing expenses and the overarching strategic management of the organisation’s financial resources, including its restricted and unrestricted reserves.
- Oversee the charity’s financial risk-management process and report financial health to the Board of Trustees at regular intervals.
- Act as a counter-signatory on the charity’s bank accounts and applications to funders and ensure that annual accounts are submitted to all relevant regulators in a timely fashion.
- Liaise with internal examiners/external auditors on financial issues and ensure that the organsiation’s finances are responsibly managed/invested for the betterment of the organisation’s work and for the beneficiaries it serves.
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.
- Oversee planning/budgeting in collaboration 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.
- Working with the Strategic Finance Lead and SLT, create greater transparency and accountability to improve resource allocation and charity’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 finance personnel, CEO and Trustees to prepare and produce management accounts regularly.
Statutory Financial Reporting
- Board level liaison with external auditors/independent examiner 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.
- Collaborate with the SLT and Board to create a reserves strategy which is reviewed on a cyclical basis, to safeguard the organisation’s finances.
- Keep the Board informed of unrestricted 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.
- Chair Finance, Audit & Risk Committee in line with terms of reference and reporting findings/developments back to the Board of Trustees.
- Advising on the financial implications of the charity’s strategic plans and overseeing the charity’s financial risk-management process.
- Lead in the development and implementation of financial reserves, cost management and investment policies.
- Qualified accountant with demonstrated commercial awareness and knowledge.
- Experience of working or volunteering within a charity and working knowledge of charity SORP.
- 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 charity fundraising and finance practices.
- Dedicated to the organisation’s cause and objectives and willing to act as the charity’s ambassador to external bodies, charities and companies.
- 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.
All of our Trustees are:
- Committed to the aims and values of the Foyer Federation
- Advantaged Thinkers who support the strategic vision of the Foyer Federation
- Aware of issues relating to social exclusion
- Empathetic and understanding of young people who experience difficulties as they are becoming adults
- Inquisitive and interested in the aspirations and needs of our network of Foyers and how to increase positive outcomes for Foyer young people
- Able to work as part of a team and willing to take collective responsibility for the governance of our charity
- Able to analyse risks and opportunities, and take a balanced approach to both
- Able to work at a strategic and visionary level whilst understanding the detail and complexities of delivery, and the influencing skills needed to bring staff and stakeholders along with plans
- Confident communicators, able to hold courageous conversations, when necessary
- Prepared to visit at least one Foyer each year and to attend other events, as appropriate
- Willing to train and develop within the role.
All of our Trustees should:
- Ideally seek the permission of their employer/parent organisation to undertake the commitments required by the role
- Commit to a tenure of 3 years. This can be extended for a further 3 years, subject to fellow Trustees voting on whether to elect them for a second term of three years*
- Prepare for meetings by reading agendas, papers and minutes
- Engage with requests relating to the development of good governance from the Chair, Company Secretary, Strategic Finance Lead and Chief Executive on an ad hoc basis.
- The Board meets at least four times a year, with an additional annual Board Strategy Day.
- The FARC meets four times a year and you will also be involved in discussions about the agenda and meeting papers.
- You will be responsive via telephone or email, in between meetings for discussion of strategic matters with, and not limited to, the CEO, SLT, Strategic Finance Lead and Chair of the Board
Serving as a Trustee:
Before nomination, candidates should also look at the regulation relating to those ineligible to serve as a Trustee. This can be found here:
We hope you will now submit an application and join our diverse and forward- looking Board of Trustees.
We really look forward to hearing from you!
Closing date for applications is Monday 11th December at 5pm, interviews will be held in December 2023.