Non-Commissioner Member of the Audit and Risk Committee

CHURCH COMMISSIONERS FOR ENGLAND

APPOINTMENT OF A NON-COMMISSIONER MEMBER OF

THE AUDIT & RISK COMMITTEE   

 

Short summary

The Church Commissioners exist to support the work and mission of the Church of England, particularly in areas of need and opportunity. We are accountable to Parliament, General Synod and the Charity Commission. We hold a diverse investment portfolio whose value was £10.4 billion at the end of 2023. The purposes of the fund are to meet the cost of some clergy pensions and to provide a sustainable level of support for parishes, bishops, cathedrals and other forms of support for the Church of England’s ministry.  We also have a role in pastoral reorganisation and settling the future of church buildings closed for regular public worship.

 

We wish to appoint a non-Commissioner member of our Audit & Risk Committee. They must be enthusiastically committed to the fulfilment of the Commissioners’ responsibilities so, although there is no statutory requirement for Committee members to be members of the Church of England, we nonetheless expect you to bring to this role a clear commitment to the goals and mission of the Church. We are keen to interview candidates with expertise in relevant fields, e.g. internal and external audit and risk management, accountancy, financial management, investments, pensions, actuarial, organisational culture, organisational change or governance. We are strongly committed to building and maintaining a diverse team and, as part of this commitment, we welcome applications from people regardless of age, disability, ethnicity, gender, sexual orientation and cultural or social background.

 

The appointment lies with the Board of Governors. This is a five year term of office which is renewable once. This post is non-executive and unpaid but all reasonable travel and accommodation expenses will be reimbursed. 

 

If you are interested please request a full role description from Matt Chamberlain at Church House, Great Smith Street, London SW1P 3AZ (matt.chamberlain@churchofengland.org) and send him your CV and short covering letter outlining your suitability for the role, by Monday 20^th January 2025.

 

Interviews will be held in central London on Tuesday 4^th February 2025.

 

 

Full role description
 

THE CHURCH COMMISSIONERS FOR ENGLAND

AUDIT & RISK COMMITTEE

PROFILE FOR NON-COMMISSIONER COMMITTEE MEMBER

appointment to      AUDIT & RISK COMMITTEE

location                CHURCH HOUSE, GREAT SMITH STREET, LONDON SW1P 3AZ

 

Background

The Church Commissioners’ mission is to support the Church of England’s ministry, particularly in areas of need and opportunity. 

Our funding responsibilities include clergy pensions for service up to the end of 1997, support for bishops and cathedrals and parish mission and ministry support. We also have a role in pastoral reorganisation and determining the future of closed churches. We meet these responsibilities through the responsible and ethical management of a diverse investment portfolio (comprising UK and overseas equities, commercial, residential and rural property, timberland and alternative investment strategies such as multi-asset or absolute return funds) whose value was £10.4bn at the end of 2023.

Particular strategic priorities include: 

• providing sustainable funding in terms of the performance of our portfolio, our ethical and responsible investment principles, and the processes and systems that ensure the efficient distribution of funds.   

• providing practical guidance and effective processes which contribute to its resilience and durability.  

• ensuring this work is enabled by diverse teams that feel engaged, appropriately resourced, and supported to deliver their work, and governing bodies that are equipped to make data-driven and values-led decisions  

Successful delivery of our objectives is underpinned by investment in a team of high calibre trustees, committee members, and staff, and our commitment to their wellbeing and inclusion. 

Legislation that makes changes to the national Church governance arrangements is currently being reviewed by General Synod and will in due course result in the Commissioners’ Bishoprics & Cathedrals and Mission & Pastoral functions being transferred to a new national Church governance body (Church of England National Services, or CENS, expected during 2027).  This is therefore an important time of transition during which the Commissioners will need to ensure that the transferred functions are transferred effectively and continue to be carried out at least as effectively in the future as they are now, while also maintaining clear focus on the effective discharge of those functions they will retain. The Audit & Risk Committee will of course play an important part on ensuring this effective transition.

Audit & Risk Committee The Committee has:

• a duty to review the Commissioners' accounting policies and practices, their annual accounts and any reports made, and advice given to the Commissioners by the auditor appointed in accordance with the Measure 1947 (“The Measure”);
• a duty to keep under review the risks, including financial risks, to which the Commissioners are exposed in carrying out their functions and the adequacy of the steps taken by the Commissioners to mitigate those risks;  a duty to keep under review the effectiveness of the Commissioners' internal control systems;  
• a duty to consider any representations made to them;   
• a duty to appoint, with the approval of the Board of Governors (“the Board”), an auditor and to direct the manner in which the audit required to be made under section 11(2) of the Measure is undertaken, including ensuring that the requirements of generally accepted auditing standards are met;  
• a duty to report to those Commissioners who are not members of the Board on any matter relating to the functions and business of the Commissioners which causes the Committee grave concern and about which the Board has been unable to satisfy the Committee.   

Specifically in relation to the Church Commissioners’ issuance of debt securities (bonds), the Committee has a responsibility to monitor the financial reporting process; monitor the effectiveness of the related internal control, internal auditing and risk management systems; monitor the statutory audit of the Commissioners’ annual and consolidated accounts and review and monitor the independence of any statutory auditor and its provision of additional services. If the Commissioners are required to appoint a statutory auditor, they will base any proposal to do so on a recommendation by the Audit & Risk Committee.  

The Committee meets for half a day usually three times each year – these meetings typically happen in London, although it will be possible to join some meetings virtually and members will be expected to attend Assets Committee meetings as observers on a rota basis (as a rule, each member would usually only need attend one such meeting per year). There may be a need for an additional meeting in connection with signing off the annual accounts. Preparation for a meeting will usually involve up to half a day’s reading. Members may need to attend other meetings from time to time, for example meetings with the Commissioners’ property valuers. In addition, non-Commissioner committee members are also invited to attend the Commissioners' Annual General Meeting.

Person Specification

We are looking for a non-Commissioner member of the Audit & Risk Committee and will be evaluating candidates against the following criteria:

Essential

Enthusiastic commitment to the realization and development of the Commissioners’ key role to support the mission and ministry of the Church of England; expertise in one or more of: external and internal audit, risk management, accountancy, financial management, investments, pensions, actuarial, organisational culture, organisational change or governance; capacity for understanding the broad range of the Commissioners’ activities and risks and grasping how they are reflected in the Commissioners’ published financial statements, and understanding not only specific risk relating to the Church Commissioners but also those faced by the wider Church of England; readiness to probe, challenge and enquire into the explanations that are being given, combined with pragmatism and realism about what can be achieved; appreciation of the risks and opportunities inherent in the Commissioners’ work, particularly those pertaining to a substantial and diverse fund of investments. We therefore seek candidates with a solid understanding of internal controls and those that should be in place to mitigate the risks faced by the Commissioners, and an appreciation of emerging risks and how they might impact the Commissioners; experience of operating in a complex environment where interrelationships add a complex dimension to risk management.

Desirable

Expertise in organisational culture, change and project management, would also be useful. The Church of England is for everyone and we want our Board and its Committees to reflect the diversity of the community which the Church serves across the whole country. Therefore, while of course all applications from interested and suitably experienced people are welcomed, we particularly welcome applications from GMH/UKME backgrounds, people with disabilities and younger people. We will be pleased to make any reasonable adjustments necessary to accommodate candidates with disabilities during the recruitment process and following appointment.  Our diversity, equity & inclusion Charter (here) explains further our attitude and approach to diversity, equity and inclusion.

Disqualifications

The Church Commissioners Measure 1947 disqualifies any “salaried official of any central body in the Church of England” from being a Commissioner and we would extend this to non-Commissioner members of this committee to avoid unmanageable conflicts of interest. For the same reason the Commissioners have also adopted the policy that people serving at any time within the last five years as partners, consultants, associates or employees of the Commissioners’ actuaries (currently Hymans Robertson)  or external auditors (Currently Grant Thornton) should not serve as Commissioners or Committee members.  Similarly, if recent employees, consultants or associates of our investment managers or other agents should apply, we will wish to satisfy ourselves that they have not been directly involved with the Commissioners’ investments.

Section 178 of the Charities Act 2011 provides that the following are also disqualified:

• A person who has been convicted of any offence involving dishonesty or deception;

• anyone who has been has been adjudged bankrupt or sequestration of his or her estate has been awarded;

• anyone who has been removed from the offices of charity trustee or trustee for a charity or removed from being concerned in the management or control of any body; and

• anyone who is subject to a disqualification order under the Company Directors Disqualification Act 1986 or an order made under section 429(2) of the Insolvency Act 1986.

Successful candidates will be asked to make a declaration that they are not precluded by these conditions and  that they will abide by the Commissioners’ Code of Conduct. Refusal to make such a declaration will be a bar to appointment.

Practical information The final decision on this appointment and the term of appointment will rest with the Church Commissioners’ Board, but the expectation is that it will be a five year term, renewable once, commencing in February/ March 2025. The role is non-executive and unpaid but all reasonable travel and accommodation expenses will be reimbursed.

The Commissioners’ Code of Conduct requires committee members to act with impartiality and integrity in transacting official business. The Board has adopted the seven principles of public life as elaborated by the Committee on Standards in Public Life, and the Commissioners maintain a register of all members’ relevant interests which is open to inspection on request.

All new Commissioners and Committee members are offered an induction programme at which they meet the Commissioners’ key management staff with an opportunity for discussion and an insight into the work of departments. This is supplemented by further training and briefings as required.

If you are interested in this appointment and would like more information about the work of the Committee, please contact Matt Chamberlain: matt.chamberlain@churchofengland.org