Financially qualified trustee

Duties of a Trustee

• support and provide advice on Day One’s purpose, vision, goals and activities
• approve strategy, operational policies and ethical standards. Monitor and evaluate their implementation
• oversee Day One’s financial objectives, plans and budgets and monitor and evaluate progress. Ensuring the effective and efficient administration of the organisation, including having appropriate policies and procedures in place for all financial and operational matters
• ensure that key financial and non-financial risks relating to Day One’s activities and affairs are being identified, monitored and controlled effectively
• review and approve Day One’s financial statements and annual accounts including the Trustees’ Annual Report
• appoint a Chief Executive and delegate to them all such authority, powers and functions as is required for the management and implementation of Day One’s activities and affairs
• keep appropriately informed on Day One’s activities and operating environment and conversant with their duties and responsibilities as Trustees
• endeavour to attend all Board meetings, including Committee meetings and other necessary Board meetings as detailed on Page 4 of the recruitment pack, ensuring that they are adequately prepared to contribute to deliberations
• exercise independence of judgment, acting legally and in good faith to promote and protect Day One’s interests, to the exclusion of their own personal and/or any third-party interests and use information received in their capacity as a director with discretion and to the ends for which it was provided
• exercise their powers for the purpose conferred, operating within the limits of their authority, as imposed by law or regulation, Day One’s governing documents, or their fellow directors
• contribute to the broader promotion of Day One’s objects, aims and reputation through the application of their skills, expertise, knowledge and contacts.

Additional responsibilities:

As a Trustee with finance experience and expertise, additional responsibilities will include:

• Chairing the Finance, Audit and Risk Committee and presenting the Committee’s highlight report to the wider Board, ensuring information is understood.  The FAR Committee scrutinises all Finance, Operations, HR, IT and back office matters.
• Through challenge, support and scrutiny provide advice and assurance to the wider Board on financial matters.
• Advising, supporting and challenging the Director of Finance and Resources on all financial matters including budgeting, forecasting, management accounts, and annual financial statements.
• Contributing to the development and implementation of the charity’s strategic and operational plans, ensuring alignment with financial viability.
• Providing advice and guidance on key areas such as the reserves policy and investment
• Helping identify and mitigating financial, HR and operational risks.
• Ensuring compliance with statutory requirements, Charity Commission guidelines, and best practice financial governance.
• Working closely with the Finance and Resources Team and the Director of Finance and Resources, offering a sounding board and second layer of scrutiny.
• Leading on the appointment of and liaison with external auditors.
• Ensuring proper record keeping, accounting procedures and internal controls are in place.
• Ensuring that accounts are prepared appropriately in line with Charity Commission and Companies House requirements.