Treasurer – A Catalyst for Change at NCVO
Duties as a Trustee
- Ensure that NCVO complies with its governing document, charity law, company law and any other relevant legislation or regulations;
- Ensure that NCVO pursues its objects as defined in its governingdocument;
- Ensure NCVO applies its resources exclusively in pursuance of its objects and does not spend money on activities which are not included in the objects, however worthwhile they may be;
- Contribute actively to the board of trustees by giving firm strategic direction to NCVO, setting overall policy, defining goals, setting targets, and evaluating performance against agreed targets;
- Safeguard the reputation and values of NCVO;
- Ensure the financial stability of NCVO.
Specific Responsibilities of the Chair of the Finance and Commercial Committee (Treasurer)
- Keeping the board informed about its financial duties and responsibilities;
- Working closely with the chief operating officer, providing a sounding board and expert advice and challenge to ensure NCVO operates as effectively as possible;
- Ensuring the committee maintains adequate oversight of all income generating activities of NCVO as a registered charity and NCVO Trading Limited, a wholly owned subsidiary of NCVO;
- On the basis of discussions with the committee, recommending business plans and budgets and, the annual report and accounts, to the board;
- Being assured that the financial resources of the organisation meet its present and future needs as well as ensuring that the charity has an appropriate reserves and cash reserves policy;
- Being assured that appropriate financial procedures andinternal controls are in place;
- Ensuring that NCVO has an appropriate investment policy, holds investments on this basis and that there is no conflict between any investment held and the aims, objects and values of NCVO;
- Ensuring the annual report and accounts are prepared in accordance with financial best practice and meet the requirements of the regulators and the relevant statutory bodies;
- Ensuring an appropriate audit plan is agreed with the audit and risk committee and implemented and that any recommendations of the auditors are implemented appropriately;
- Making a formal presentation of the annual report and accounts at the annual general meeting (AGM), drawing attention to important points in a coherent and easily understandable way;
- Sitting on recruitment, supplier selection, grievance and disciplinary panels as required;
- Approval of trustee and chief executive expenses in the absence of the board Chair;
- Approving expenditure in accordance with bank and investment mandates and NCVO’s financial procedures.
This is a voluntary role and trustees receive no remuneration. Reasonable expenses can be claimed including for childcare, in line with NCVO’s expenses policy, for attendance at board and other meetings and events necessary for the fulfilment of the duties of the Chairof the finance and commercial committee (the Treasurer).
Minimum Time Commitment
The Chair of the finance and commercial committee (the Treasurer) is expected to attend four board meetings each year. Three meetings are normally around three hours long with one session is for a day and a half (normally in the autumn). Board meetings are generally held at NCVO’s offices in London during office hours with a hybrid option always being available. In addition, the Chair of the finance and commercial committee (the Treasurer) is expected to attend and present at NCVO’s annual general meeting in October each year. This is likely to be a hybrid event in the future.
The individual will also be a member of the audit and risk committee which meets quarterly. Committee meetings are generally for two hours, held virtually or on a hybrid basis and occur during normal office hours.
Additional time will be required for reading papers and meetings as required with the chief operating officer and any other member(s) of the leadership team. The individual will receive a full induction. Half a day will be with the board Chair, chief executive and chief operating officer, ideally be in person in London though a hybrid option will always be available and there will also be the opportunity to meet the directors in a two hour virtual induction.
We estimate that the average minimum time commitment required will be two days each month.