Honorary Treasurer for the Inter Faith Network for the UK

The Inter Faith Network for the UK is a national organisation which links a wide range of organisations with a commitment to building good relations between people of different faiths in Britain. Its member organisations include representative bodies from faith communities; national, regional and local inter faith organisations; and academic and educational bodies. The Inter Faith Network’s overall role is helping to promote good relations between people of different faiths and beliefs through such means as: linking existing inter faith initiatives and promoting new ones; facilitating contact with faith communities; and providing information and advice on inter faith issues. Further information about its work can be found at www.interfaith.org.uk.

The work of the Inter Faith Network is overseen by a multi faith board of Trustees.  Among them are three Honorary Officers: 2 Co-Chairs and 1 Honorary Treasurer. It has a Finance and General Purposes Subcommittee.    

The Inter Faith Network is seeking to appoint a person to the post of Honorary Treasurer. The term of office for the Honorary Treasurer is up to 3 years. Like other Trustees, the Honorary Treasurer may serve for up to two consecutive terms (https://www.interfaith.org.uk/uploads/2016_IFN_Schedule_of_Bye-Laws.pdf).

This is an important role which helps IFN take forward its work effectively.  The role is supported by a part time Finance Assistant, IFN’s Project Director, and assistance from an external advisory accountant as necessary.

IFN has recently been offered a renewal of Government funding towards work in the present financial year. It is, this year, working towards diversification of sources of funding. While the Honorary Treasurer is not required to lead on fundraising, some support on that front will be an important aspect of their role.

General duties of Trustees

Trustees are nominated and elected as individuals strongly committed to IFN’s vision and work.  They are advocates for its work and they seek to ensure that its aims are being met appropriately and effectively as is required of their governance role.

With his/her fellow Trustees, the Honorary Treasurer shares the governance responsibility of ensuring that:

• IFN complies with its governing document (ie its Memorandum and Articles of Association), charity law, company law and any other relevant legislation and regulations
• IFN pursues its objectives as defined in its governing document
• IFN applies its resources exclusively in pursuance of its objectives
• IFN has financial stability

and that the Board:

• provides strategic direction to IFN, setting overall policy, defining goals and setting targets and evaluating performance against agreed targets
• safeguards the good name and values of IFN
• protects and manages the property of IFN and ensures proper investments of funds
• appoints and supports the Executive Director of IFN and monitors his/her performance

Responsibilities of the Honorary Treasurer

• Overseeing quarterly trial balances and liaising with the Finance Assistant on these
• Overseeing budgets before these are presented to the Board of Trustees
• Liaising with the Board of Trustees, Finance Assistant and external auditors, as required, in respect of the preparation of the yearly accounts and ensuring that these are prepared and disclosed in the form required by the relevant statutory bodies (and, if appropriate, funders)
• Attending the Annual General Meeting each year to present the audited accounts
• Keeping the Board of Trustees informed about its financial responsibilities
• Providing guidance to the Board of Trustees and Executive Director on issues relating to the financial stewardship of IFN, drawing to their attention any issues of concern
• Advising on the financial implications of IFN’s strategic plans Monitoring the Reserve and, with the Board, working to ensure suitable maintenance of that
• Supporting fundraising initiatives Attending approximately 4 meetings of the Board of Trustees each year
• Attending approximately 4 meetings of the Finance and General Purposes Subcommittee each year
• Some support to a fundraising group (2-3 meetings per year)
• Counter-authorising invoices above a set level on a regular basis
• Advising by email or telephone on ad hoc queries
• Being available for consultation by or on behalf of the Co-Chairs, if necessary for ‘urgent matters’ business between Board meetings

Experience, skills and abilities

Essential

• Accounting qualification
• Past experience as a Treasurer for an organisation with an annual turnover of £100K +
• Knowledge and experience of charity finance and pension schemes
• Experience of supporting fundraising
• An understanding of the accounting requirements for incorporated charities
• Skills to analyse proposals and examine their financial consequences and explain these clearly to the Board
• Working knowledge of Sage, Excel, Word and Outlook
• Willingness to devote the necessary time and effort to the role. The majority of meetings are being held by Zoom. However, the Hon Treasurer should be able to travel, as necessary, to attend meetings in the London area.

Personal qualities

• Honesty and integrity
• Diplomatic manner and high regard for confidentiality
• Independent judgement
• Ability to work well with others
• Commitment to the development of good inter faith relations in the UK

Terms and conditions:

All IFN Trustees, including the Honorary Treasurer, hold their posts on a voluntary basis.  The gift of Trustees’ time and skill is vital to the wellbeing of the organisation’s work and is greatly valued.

Travel expenses will be paid for attending meetings of the Board of Trustees, Finance and General Purposes Subcommittee and Annual General Meeting, where these are held in person.