Journal

Trustee wanted: Treasurer

Words by Daniel Lapedus
07 September 2017

Rethinking Economics is overseen and supported by a dedicated trustee team of twelve individuals. Our Treasurer is moving on, so we are seeking a capable, committed individual to take up this important role.

Role: Treasurer, member of the Board of Trustees

Role type: Voluntary (reasonable expenses reimbursed)

Location: Meetings mainly by conference call, the staff office is in Manchester, quarterly trustee meetings vary between Manchester and London.

Term: 3 years (trustees may serve a maximum of two consecutive terms)

Time commitment: Quarterly meetings plus preparation time, and regular ongoing meetings in between Trustee meetings to review financial position and controls framework.

 

About Rethinking Economics

Rethinking Economics is an international network of students, academics and professionals building a better economics both in the classroom and in wider society. In its first five years, RE has become a leading voice in the debate on the future of economics and has catalysed real change at universities across the country. We have a dedicated staff team of five who support the student movement, and are in the process of hiring a Director to lead and support this team.

We are committed to minimising unnecessary hierarchy and to making decisions by consensus where possible, and have developed a governance structure which allows students to be involved in decisions at all levels of the organisation. This way of working can be challenging but it is also hugely rewarding. Trustees play a key role in overseeing the organisation and in final decision-making.

Role and responsibilities

In addition to the responsibilities of all Trustees, the Treasurer will be expected to lead at Board level on:

– Monitoring RE’s financial viability

– Ensuring RE prepares and files proper accounts

-Reviewing and monitoring RE’s financial performance

-Drawing up or reviewing policies for finance and investment

-Ensuring that RE has robust and effective financial controls in place

-Liaising with the Director, the Operations Co-ordinator, the Finance and Funding Committee, and with RE’s independent examiner or auditor on financial matters

-Liaising with the Chair to ensure that the Board as a whole has a sufficient grasp of RE’s financial position, including access to full and timely financial information.

 

In order to discharge these responsibilities, the Treasurer will be expected to:

-Make fellow Board members aware of their financial obligations and take a lead in interpreting financial data to them.

-Regularly report the financial position at Board meetings, ensuring trustees are aware of both RE’s short-term cashflow position and its long-term financial sustainability, and highlight any potential issues.

-Oversee the production of regular forecasts, an annual budget and a long term financial plan, in partnership with the Operations Co-ordinator and the Finance and Funding Committee.

-Advise on the development of fundraising strategy, in partnership with the rest of the board.

-Oversee the production of annual statutory accounts in partnership with the Operations Co-ordinator and the Finance and Funding Committee, and review with the auditors.

-Provide advice to the Chair on sign-off of annual report and accounts.

-Ensure proper records are kept and that effective financial procedures and controls are in place.

-Appraise the financial viability of projects, plans, proposals and other initiatives which may have a financial or corporate structure implication.

-Lead on appointing and liaising with auditors, as appropriate. (Day to day liaison on queries will be managed by the Operations Co-ordinator).

-Ensure that effective Risk Management practices are appropriate and are embedded into operational processes.

 

Person specification

-It is essential that the Treasurer is able to understand and interpret routine financial data. In addition to the specifications for all Trustees, desirable attributes for the Treasurer position include:

-Good understanding of financial controls and the responsibilities of Trustees in relation to RE’s financial health / financial reporting.

-Prior experience of charity finance and fundraising.

-Financial or accountancy qualifications or experience.

 

Expectations of all trustees  

-To support the staff team and wider student network by serving on the Trustee board we expect you to:

-Attend quarterly board meetings throughout the year (usually held on Saturdays, 4-6 hours).

-Sit and actively participate in, one of our six committees (1-2 hour(s) monthly meeting).

-The roles are non-executive and non-remunerated. All trustees work closely with Rethinking Economics’ student organisers and staff to achieve our objectives, we pride ourselves on being a student and member-led organisation.

 

Statutory Duties

-To ensure that Rethinking Economics complies with its governing document, charity law, company law and any other relevant legislation or regulation.

-To ensure that Rethinking Economics pursues its charitable purpose as defined in its governing document.

-To contribute actively to the board of trustees’ integral role (in collaboration with staff and student organisers) in setting the strategic direction of the organisation, setting overall policy, defining goals, setting targets and evaluating performance against agreed targets.

-To safeguard the good name and values of Rethinking Economics.

-To ensure the effective and efficient administration of Rethinking Economics.

-To ensure the financial stability of Rethinking Economics.

 

Other Duties

In addition to the above duties, trustees should be willing and able to use any specific knowledge or experience he or she may have to help the board of trustees reach sound decisions. This will involve scrutinising board papers, facilitating discussions, focusing on key issues and providing advice and guidance requested by the board or staff in areas where the trustee might add value and insight to deliberations

 

We are looking for people who have:

-A commitment to the objectives and values of Rethinking Economics.

-An understanding and acceptance of the legal duties, responsibility and liabilities of trusteeship.

-Good, independent judgement.

-An ability to think creatively.

-The courage and willingness to speak their mind.

-An ability to work effectively as a member of a team.

Mentoring

Six trustees will also be mentors: one for each member of the staff team. This involves a 1 hour monthly check-in meeting which is often done by phone or Skype at a time that suits both parties.

Mentors provide support and guidance for staff members, make sure they are following their work-plans, deal with any issues that may arise and take necessary action to ensure staff well-being.  

 

How to apply

 

We welcome applicants from all age groups and backgrounds.

Please send a CV and cover letter to recruitment@rethinkeconomics.org to apply with the headline ‘Trustee application’. Applications should be made by midnight on 29th September 2017.

 

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