WHY THIS ROLE MATTERS
As a Credit Union authorised to operate by the Prudential Regulation Authority and Financial Conduct Authority, we provide essential savings and lending services within the Stockport borough.
We help people access better rates of finance, move away from payday lenders and loan sharks, and encourage financial literacy and improve their financial management.
We’re a mutual co-operative operating in the financial services sector, meaning that our organisation is owned by the Members and a Board is appointed to govern on their behalf.
The role is an unpaid voluntary based position, ideal for anyone who would like to gain experience of working with a volunteer Board of Directors to share their skills, knowledge and experience and add value to a developing financial services business. Travel expenses will be paid.
As Treasurer, you’ll be focused on oversight of the financial side of the Credit Union – involved with the executive team and Board colleagues, such as the Chair and Audit Committee, and external and internal auditors, in the following key areas:
- General financial oversight, including the soundness of our financial position
- Funding, and income monitoring
- Financial planning, budgeting and forecasting
- Financial reporting (monthly and annual accounts)
- Some regulatory filings
- Process adherence – in particular banking, book-keeping and record-keeping; control of cash
- Improvements to systems and controls
- Any financial matters raised by the Board
Your main contact with the exec team will be the Finance Manager and Chief Executive.
Your Board involvement will be that of an experienced individual responsible for providing independent thought and judgment to assist the Board to act in Members’ best interests – setting and monitoring a strategy to grow and modernise Stockport Credit Union.
The role carries out designated Senior Management Functions within the FCA and PRA regulated Senior Managers Regime. Appointment to the position is therefore subject to regulatory approval and you’ll be required to undertake the usual checks.
WHAT YOU’LL NEED TO DEMONSTRATE
- Previous experience at Director level preferred but not essential
- Commitment to the 2-3 days per month time to carry out the role
- An understanding of Credit Unions and their regulatory and operating environment
- A finance and accounting qualification e.g. CA, ACA, ACCA, or CIMA
- Business experience in the main areas of the Role
- A commitment to the socially-based objectives of the Credit Union, serving the people of Stockport. Therefore preference will be given to candidates who live in or near to Stockport