Overview

YMCA ENGLAND AND WALES

ROLE DESCRIPTION FOR MEMBERS OF THE FINANCE, AUDIT AND RISK COMMITTEE

Background and Overall Purpose

The Finance, Audit and Risk Committee advises the Board on the financial and control aspects of its responsibilities.  The Finance, Audit and Risk Committee is charged with monitoring and reporting to the Board on the existence and effectiveness of the financial and operating systems and controls.

The Board will look to the Finance, Audit and Risk Committee for guidance in matters relating to immediate and longer term financial and regulatory issues.

 

Main Responsibilities

The main responsibility of members of the Finance, Audit and Risk Committee is to monitor, appraise and report on the key financial policies and processes within YMCA England & Wales.

These processes include:

  • The review of budgets, management accounts and annual financial statements
  • Monitoring the systems for ensuring proper books and records are kept, and financial resources are spent and invested in line with YMCA England & Wales’ objects and policies, good governance and, legal and regulatory requirements.
  • The development of financial, reserves and investment policies.
  • The preparation and audit of the Annual Report and Accounts.
  • Reviewing risk management strategies and processes developed by management.  Monitoring the implementation of risk management processes and work plans.
  • Receiving and reviewing reports from internal and external auditors, including the annual auditor’s management letter.

Main Duties

Liaising with and supporting the Director of Finance, the CEO or other appropriate members of staff responsible for the financial activities of the organisation.
Attending Finance, Audit and Risk Committee meetings (normally 4 per year) and contributing to the monitoring on the financial viability of the organisation after liaising with the external auditors; ensuring that YMCA England & Wales has sufficient resources to meet its current and future obligations.
Advising and supporting the CEO and Director of Finance on the financial implications of YMCA England & Wales’ Strategic Plan.

 

Desired knowledge and experience for the role
Knowledge and understanding of strategic financial management and reporting, and business planning
Experience as a finance professional
Familiarity with pension scheme issues for employers
Some knowledge of IT projects and/ or IT management
Understanding of governance issues in the not-for-profit sector
Commitment to the promotion of Equal Opportunities and diversity
Ability to work as part of a team

Members of the Finance, Audit and Risk Committee are expected to have a commitment to promoting the values and objectives of YMCA England & Wales.

This position is unpaid but members are reimbursed for all travel expenditure incurred in the course of carrying out their roles.

Tagged as: audit and risk committee, Finance

About YMCA England & Wales

Across England and Wales, the YMCA operates as a federation with 116 local YMCAs that work to support young people in their communities.  YMCAs share a common goal to create supportive, inclusive and energising communities where young people can truly belong, contribute and thrive.  We operate in almost 740 different communities across England and Wales impacting upon the lives of more than 630,000 people every year.