Role Description – Trustee (Chair of Finance & Governance Committee)
The Chair of Finance & Governance Committee is an elected Officer of the Board of Trustees; as such they are also a Director of the Company.
As Chair of the Finance & Governance Committee you will provide oversight and guidance on the financial strategy of the charity, advise the Board on effective governance and support the Chief Executive and Senior Finance Manager to ensure that proper processes and procedures exist for effective management of finance and resources.
Key Responsibilities
1. Strategic
· To advise and assist the Chief Executive and Senior Finance Manager in the formation of the Foundation’s financial strategy, ensuring this supports the Foundation’s mission
· To provide oversight and guidance to the Board on progress against the financial strategy and major financial decisions, long-term financial planning and investment policies
· Act as the main point of contact between the Finance & Governance Committee and the Board of Trustees, facilitating discussions on financial matters.
2. Governance
· To ensure the Board is aware of its financial duties and responsibilities and the requirements to comply with all legislation
· To ensure all trustees have a good understanding of the Foundation’s financial strategy and financial position
· To ensure financial strategy is monitored and reviewed on a regular basis
· To work with the Chair and Vice Chair to provide leadership to the Board and support the Chief Executive on strategic or complex matters as needed.
3. Assets and Investments
· To ensure that the Foundation has an appropriate investment policy and reserves policy
· To ensure that the Foundation monitors the performance of its investments
· To ensure that the Foundation regularly reviews performance of investment managers and any other advisers and re-commissions as appropriate.
4. Support for the Senior Finance Manager and CEO
· To provide independent financial oversight and strategic advice to the Senior Finance Manager and the CEO.
Person Specification Essential
· An accountancy qualification or an equivalent level of experience and expertise in accountancy and charity finance
· Knowledge and experience of Charity Governance and financial management either through an executive or previous trustee role
· Knowledge of current charity accounting requirements, including the Charities SORP, and the ability to provide oversight and challenge in relation to financial reporting and compliance
· Understanding of the legal duties, responsibilities and liabilities of company directors and trustees
· A commitment to the vision, mission and values of the Foundation (see below)
· Able and willing to commit the time to carry out the role effectively
· Understanding of and commitment to diversity, inclusion, sustainability and equality in all aspects of the Foundation’s work.
Desirable
· Analytical and strategic thinking, demonstrating good judgement
· Good communication and leadership skills, adept at communicating complex financial information to trustees who do not have a finance background; ability to listen openly speak up with honesty, tact and diplomacy
· Experience of (and enjoyment in) building relationships with senior stakeholders and networking
· A good team player with an ability to work in partnership with staff and fellow trustees
· A connection with Devon, and a commitment to supporting communities in Devon are desirable, along with the ability to attend meetings in the county.
Time commitment
- Quarterly 3-hour Board meetings, to be attended preferably in person (currently held in Cheriton Bishop)
- Quarterly 3-hour Finance &Governance Committee meetings, to be attended preferably in person (held in our office in Tiverton)
- All trustees are encouraged to attend Community Foundation events and to assist DCF to develop relationships with donors and potential donors
- The time commitment is likely to be around 15 days across a calendar year.
Work Location: Hybrid remote in Tiverton EX16 5LL
