Background
We are looking to fill the position of Finance Trustee/Treasurer for our Board of Trustees. Working with the Executive Director and Finance Manager, this role monitors the financial administration of the charity and reports to the board of trustees on its state of financial health, in line with best practice and in compliance with the governing document and legal requirements, to provide the board with the confidence and knowledge to better make strategic decisions.
Time requirement
The role will require a time commitment of 2 – 3 hours a month (with some months potentially requiring additional input), in addition to quarterly, 3 hour board meetings (online/hybrid), and the Medact AGM in September or October.
The Finance Trustee will ideally be available to work with the Executive Director, Finance Manager and fellow Trustees between Board meetings, including taking responsibility to deal with issues which may arise, and meet with the Executive Director and Finance Manager before board meetings.
Term of office
The Finance Trustee’s term is two years, following which Trustees may re-elect the position for a further one or two term(s).
Remuneration
Medact is a charitable, not-for-profit organisation. Trustee roles are not remunerated. However, if finances are a barrier to participation, we would like to discuss how we can overcome that. Reasonable expenses for travel can be paid for those not living in London.
Key responsibilities
- Liaise with ED and Trustees to ensure the financial viability of the organisation’s strategy
- Advise on the financial implications of Medact’s strategic plan
- Present Medact’s financial position and broader context at Board meetings
- Support the Finance Manager with the production of an annual budget
- Ensure that the Board is aware of its financial duties and responsibilities and the need to comply with all legislation
- Take a lead in interpreting financial data to fellow Board members
- Provide oversight and guidance where necessary of accounts prepared for funders and relevant statutory bodies
- Oversee the appointment of auditors and review on a regular basis
- Act as counter signatory on charity cheques and some applications to funders, approve payments on banking systems, and spending approval in accordance with financial management processes
- Ensure that all financial policies, procedures and the appointment of external financial advisors are reviewed on a regular basis
Person specification
Essential
- Good background in financial management and analysis, gained through paid or unpaid experience
- Able to communicate financial information clearly and to people with different levels of financial and data literacy
- Knowledge and experience of finance practice relevant to voluntary and community organisations
- Knowledge of accounting processes, tools and procedures
- High proficiency in Excel/Google Sheets, Powerpoint/Google Slides for analysis and presentation
- Commitment to Medact’s vision, purpose and culture and its way of working
- Understands and accepts the legal duties, liabilities and responsibilities of Trustees, and the difference between governance functions and management functions
- High level of integrity and sound judgement
- Able and willing to devote the necessary time to the role
Desirable
- Lived experience of being part of one of the communities Medact’s work seeks to support
- Public speaking skills
- Awareness and understanding of the campaigning world and the health community’s role in it
Principles
Medact is absolutely committed to providing equal opportunities for everyone regardless of their background. We value diversity and lived experience, and acknowledge the under-representation of people from certain backgrounds both within the health community and wider campaigning movements. We are determined to correct this and particularly encourage applications from Black, Asian and minority ethnic people; people with disabilities (including mental illness); people from the LGBTQI+ community; and people who identify as working class (or have done in the past). Any potential conflicts of interest should be declared for review by the Board.
