Location: Mainly at home
Estimate of time needed: 5 hours per week, Board meetings are currently held on Zoom once a month for two hours, may require visit to office to understand financials and to help finance operator
Looking to give back to your community? Our existing treasurer is moving into a new role on the board which means that we need to recruit a new treasurer for our board. We are undergoing a period of rapid transformation and growth with changes to our IT systems and services giving applicants the opportunity to make an impact on the direction of the credit union at a pivotal time. Each member owns a share of the credit union and has a say at our Annual General Meeting on how the credit union is run with Board members delivering the credit union’s plans.
What will you be doing?
Stockport Credit Union is led by a Board of Directors with a diverse range of skills and expertise. The Board is accountable to members, and it is their role to define strategy, approve business plans and have oversight of the senior member of paid staff. We are looking for a board member who will be our treasurer to support the board in its governing role.
The role of Treasurer involves the following
- Oversight of financial processes, policies and procedures in the office to ensure all financial transactions are recorded accurately so that members’ funds are safe.
- Work with key staff of the credit union to derive an annual budget and monitor on monthly basis reporting to the Board.
- Focus on the financial health and stability of the credit union and be able to explain and alert the same to the Board Members.
- Assist the Board in business planning and development.
- Ensure the credit union meets regulatory requirements and accurate and timely reports to the regulators.
- Work with key staff to manage external audit.
- Management of banking and investment arrangements.
Overall Responsibilities of Treasurer:
- Ensures the credit union remains solvent, legal and compliant (in terms of financial ratios)
- Ensures safe custody of all books, records, and other financial documents
- Regularly review business plan against performance
Most of the time will be involved in monthly board meetings which last about 2 hours however there will be further time committed to prepare and understand an extensive amount of financial and regulatory detail.
What are we looking for?
Ideally, we would like a volunteer who has experience in dealing with regulatory bodies in the financial field but would love a professional who has a strong background in Finance. Compliance and audit skills would also beneficial. This is a senior position on the board, so would suit someone who has previously worked at this level.
What difference will you make?
Within the Board the treasurer role is essential to maintain an overview of the Credit Union’s financial affairs, ensuring its viability and ensuring that proper financial records and procedures are maintained.
Both volunteers and staff cover all aspects of day to day running of the organisation, input and define the strategic mission with feedback from the members and deliver the community business with pride and passion.
What’s in it for the volunteer?
Credit Unions are regulated financial services businesses and directors are responsible for setting the strategic direction of the organisation and ensuring its success. This is a great chance to improve your skills at a strategic level, learn new knowledge and skills, make networks with other ethical professionals and boost your career experience. We belong to the Association of British Credit Unions which gives us the opportunity to work with other credit unions, take part in training sessions as well as access specialist advice and support.
Our board members are volunteering their time to what is highly complex, interesting and rewarding work, so they really are acting in accordance with their belief that this is a great institution, and they want to maintain it for the members.
You will have the opportunity to work with staff and volunteers who have a wide range of skills and expertise and help us deliver our services across the Stockport area and make a real difference to people’s financial situation.