Finance Trustee (Chair of Finance and Audit Committee)

Foundation for Future London (FFL) is seeking to appoint a Finance Trustee who is an enthusiastic and committed individual, with experience and a keen interest in financial matters. They will play an important role in an East London charity that has a vision to see East London communities empowered to become resilient and thriving, developing prosperous and sustainably creative and social economies.

About the role

As the lead Finance Trustee, you will be expected to provide FFL with scrutiny and oversight, with a particular focus on finance. You will support the Co-Chairs and Board to oversee all the financial matters of the charity in line with good practice, and legal obligations of the Charities Act, providing the board with advice, recommendations and reassurances that all financial processes are operating effectively. You will chair the Finance and Audit (F&A) Committee, and report to the board at regular intervals about the financial position of FFL. The Finance Trustee will ensure that effective financial measures, controls and procedures are put in place and are appropriate for FFL.

You will be expected to be an active board member and may also be asked to use your skill set, interests and wider stakeholder contacts for other duties such as networking and charity promotion/ambassadorial commitments.

The Role of the Board of Trustees

The Board of Trustees is responsible for the good governance of the charity, ensuring that the Foundation makes the most effective use of its resources and sets a strategic direction which meets its charitable aims. Whilst the operational management sits with the CEO, as a trustee, you are legally responsible for the charity’s financial and asset position, and as such the finance trustee will also act as a director of a company limited by guarantee, whose activities are governed by both Charity and Company legislation.

Main Responsibilities

To support the Co-Chairs and wider Board to oversee and ensure appropriate oversight and presentation of budgets, accounts, management accounts and financial statements, treasury/cash and reserve management.
Chair the F&A committee meetings, which take place four times in a calendar year.
To work closely with the CEO and the Head of Finance to ensure appropriate presentation of accounts and records, ensuring that compliant financial stewardship is maintained to the highest standards.
In addition to the general responsibilities and duties outlined above, as the Chair of the F&A Committee time will be spent:
Liaising, where applicable, with the CEO and/or Head of Finance and supporting on financial matters.
Supporting the Board to monitor FFL’s financial sustainability and viability (and its subsidiary Future London Enterprises)
Alongside the CEO/Head of Finance advising on the financial implications of FFL’s Strategic Plan in terms of defining and setting financial KPIs, as well as monitoring them against agreed targets.
Reviewing the annual accounts and, where applicable, liaising with FFL’s external auditors to ensure statutory and regulatory compliance.
Ensuring that sound financial management is maintained and ensuring expenditure is in line with FFL’s charitable objectives.
Leading on the appointment and liaising with the Auditors.

Personal Specification

Qualified accountant (CCAB recognised body)
Knowledge and understanding of current charity finance regulations and good practices under the Charities Act.
Understanding and acceptance of the legal duties and responsibilities of trusteeship.
Ability to scan and analyse the financial environment and set and prioritise objectives.
Ability to make own views and judgments known and contribute to decision-making in a group environment in line with strategic objectives.
Effective communication: active and objective communication.
Capability to clearly convey ideas, information and opinions.
Supportive of FFL Co-Chairs, fellow Trustees and the CEO.
Provide technical advice to the Head of Finance when necessary.
Ability to challenge the views of others professionally.
Strong communication skills with the ability to build relationships with a wide range of stakeholders.

Time Commitment

You will be required to attend and chair quarterly F&A Committee meetings, which are mainly held virtually, ensuring agendas and papers are prepared timely and to a good standard. To attend quarterly Trustee Board meetings and report back on F&A minutes and decisions. You may also be required to attend a small number of additional meetings/events. On average, there is an expectation this role will take up to two days a month, with a close working relationship with the CEO and Head of Finance.

Expenses

The position is unpaid, although travel expenses may be claimed.