Job Description and Person Specification of the Finance Chair

Chair of the Finance Committee

To be read alongside the generic Trustee role description.

Role description

Purpose: the purpose of the Chair of the Finance Committee role is to provide non-executive leadership to ensure the effective oversight and governance of the financial health [and performance management] of the ETF.

Responsibilities (alongside standard Trustee responsibilities)

• Chair the Finance
• Ensure that the Finance Committee’s terms of reference and any other relevant regulations are
• Provide direction and leadership to the Committee.
• Work to ensure that the Committee is effective, including by chairing meetings, ensuring agendas are relevant, papers are circulated in a timely way and following up actions.
• Ensure an effective relationship between the Finance Committee, other Committees (as appropriate), the Board and the Executive, and that the Committee has an open and inclusive culture.
• Support the Board Chair, the Board and Committee members, including in their induction and development.
• Lead an annual review of the Committee’s effectiveness.
• Be a member of the Chairs Group.
• Work with the Vice Chair of the Committee (if any).
• Support the R&S Committee with succession planning for the Committee and support the handover of the role.

On behalf of the Committee, the Committee Chair will:

1. Report at each Board meeting any matters of concern and recommended actions since the previous Board meeting.
2. Report annually to the Board on the work of the Committee.
3. Ensure resources made available to the Committee are adequate.
4. Ensure any appropriate training for Committee members is made available on a timely basis.
5. Report any material risks to the Chair of the A&R Committee on a timely basis.
6. Outside the formal meeting schedule, the Committee Chair will maintain a dialogue, as necessary, with Committee members, the Chair, and key members of the senior Executive.

Person specification

The Chair of the Finance Committee should be a person of high standing with relevant professional expertise and senior experience, including:

• Experience of operating at Board or Committee level in a large
• Experience of chairing Board Committees [desirable].
• Recent and relevant professional financial background and
• Recognised professional qualification in finance [essential].
• Understanding of performance and financial management reporting and
• Proven ability to think strategically, understand complex issues and make Decisions.
• High level of
• Independent and impartial
• Prepared to take difficult decisions and challenge the status

Summary conditions

Remuneration: remunerated up to £8k pa.

Time commitment: around 12-15 days per year.

Location: national role, with Board meetings held in person (London) and virtual committee meetings.

Term of office: appointments are made by the Board usually for a term of 3 years (to align with trustee appointment period), renewable once and in any event not to exceed that of their term as a trustee.

As per the charity’s Articles and company law, the Board reserves the right to remove a trustee from their role if it is determined that the action is in the charity’s best interest.

*The Board is in the process of updating the Committee structure which will mean a name change for the Committee (to Finance & Performance) but this will not materially change the Chair role.