Chair of the Audit Committee
About Future Cities Catapult
We are Future Cities Catapult, the global centre of excellence that advances urban innovation, grows UK companies, and makes cities better. We bring together businesses, universities and city leaders so that they can work with each other to solve the problems that cities face, now and in the future.
From our Urban Innovation Centre in London, we provide world-class facilities and expertise to support the development of new products and services, as well as opportunities to collaborate with others, test ideas and develop business models.
We help innovators turn ingenious ideas into working prototypes that can be tested in real urban settings. Then, once they’re proven, we help spread them to cities across the world to improve quality of life, strengthen economies and protect the environment.
Our Cities Lab provides data analysis, modelling and visualisation capabilities to understand and elucidate city problems, while on-the-ground demonstrators in our network of collaborating cities provide opportunities for testing new approaches in-situ. Combined, they help us discover which new ideas can have the biggest impact on our urban environments.
By bringing together the UK’s top architects, engineers, designers, academics and business professionals, we can help them transform cities on a global scale. We strengthen the UK’s ability to turn excellent urban innovations into commercial reality.
The Role of Chair of the Audit Committee
Future Cities Catapult is seeking to appoint a new Non-Executive Director to its Board. Specifically, we are seeking skills an experience that would enable the Board to appoint the successful candidate to the position of Chair of the Audit Committee, upon the retirement of the incumbent from that post. The role of the Chair of the Audit Committee is a critical position within the corporate governance framework of Future Cities Catapult, the primary responsibilities include:
Lead the Audit Committee in all aspects of their work, ensuring that it is properly organize and that its membership is composed of the right skill sets to executive its functions effectively;
Provides corporate governance oversight to financial functions of Future Cities Catapult, ensuring regulatory and policy compliance, including but not necessarily limited to the application of the grant funding arrangements that apply to the Catapult;
Chair meetings of the Audit Committee and encourage a free and open discussion at the meetings, ensuring meetings are properly minuted and minutes are reviewed and approved;
Maintain an effective relationship between the management and the members of the Audit Committee;
In consultation with the Chair of the Board, the Chief Executive Officer, and the Corporate Secretary, determine the frequency, dates and locations of meetings of the Audit Committee;
Report to the Board on matters reviewed by, and on any decisions or recommendations of, the Audit Committee;
Prepare the Audit Committee meeting agendas to ensure all required business is brought before the Audit Committee to enable it to efficiently carry out its duties and responsibilities;
Review the annual assessment of the Audit Committee and take the measure to correct the weaknesses underlined by the assessment;
Ensure that the Audit Committee has access to necessary resources and expertise as required to ensure it is able to execute its functions efficiently and effectively;
Undertake any special assignments or functions requested by the Board.
The Chair of the Audit Committee is expected to attend the full Board meetings, as well as the Audit Committee Meetings. They may also be required to attend additional sessions, including meetings with Auditors, as required to support the Catapult.
The current non-executive director emolument is £15,000 per annum. Director’s emoluments are presently under review.
Skills & Experience
Applications are sought from suitably qualified and experienced candidates who can demonstrate the following (please ensure you address each of these points in your cover letter):
Professionally qualified accountant who has worked at partnership level within an accountancy firm or consultancy environment.
Demonstrable knowledge of corporate governance requirements, preferably attained by working with both corporate and grant-funded organisation.
An independent and proactive leader with demonstrable confidence to assume a Chair role, and the integrity to ensure high levels of corporate governance.
Demonstrable capability to synthesize and critically analyse financial information, tenaciously challenging and asking tough questions.
Previous experience working with or as an auditor, with an understanding of corporate financial accounting practices, rules and auditing requirements.
An excellent facilitator who can encourage open and frank debate, as well as listen and communicate effectively.
Able to dedicate the time necessary to develop and monitor the Audit Committee agenda and ensure its effective operation.
Interested applicants are invited to contact our Director of People & Organisational Development, Carolyn Moore on +44 (0) 7921 871 671 to discuss their application.
Applicants must submit a cover letter that addresses how the candidate meets all of the skills and experience for this role, along with a copy of the candidate’s most up-to-date CV.
Future Cities Catapult is an Equal Opportunity Employer.