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Board Treasurer (CPA) and Cheif Finance Officer (CFO)/Finance Manager

Diverse Communities and Social Services Australia Inc. (DCSS Australia Inc.)
Logo for Diverse Communities and Social Services Australia Inc. (DCSS Australia Inc.)

DCSS Australia seeks to appoint (an independent) non-executive director. This role is vacant due to a retirement.

The role requires attending approximately 10 board meetings and serving on at least one board committee per year.

The role may require attendance in monthly conference calls for management/financial reporting and general compliance issues.

Competencies and skills (role-related) Knowledge of a director’s responsibilities – includes an understanding of the role as well as the legal, ethical, fiduciary and financial responsibilities;

Strategic expertise – the ability to review the strategy through constructive questioning and suggestion and contribute to the effective decision making of the board;

Accounting and finance – the ability to read and comprehend the company’s accounts, financial material presented to the board, financial reporting requirements and some understanding of corporate finance;

Legal – the board’s responsibility involves overseeing compliance with numerous laws as well as understanding the individual director’s legal duties and responsibilities

Risk Management – experience in managing areas of major risk management to the organisation; Managing people and achieving change – experience in current management thinking on employment, branding, engagement, strategic vision and stakeholder communication; experience in executive remuneration and compensation;

Industry knowledge – experience in similar organisations or industries.

Competencies (personal attributes)

Integrity – fulfilling a director’s duties and responsibilities, acting ethically, appropriate independence, putting the organisation’s interests before personal interests;

Collaborative yet curious and courageous – a director must be able to function as an effective team member but also must have the curiosity to ask questions and the courage to persist in robust discussions with management and fellow board members where required;

Emotional intelligence – as well as self-awareness and self-management, a director needs to demonstrate empathy manifested through strong interpersonal skills.

A director must work well in a group, listen well, be tactful yet able to communicate in a cogent and candid viewpoint;

Commercial judgement and instinct – a director needs to demonstrate good business instinct and acumen, and be able to assimilate and synthesise complex information;

Active contribution - a director needs to be an active contributor with a genuine interest in the company and its business. ———- About the Role: The Treasurer will oversee the financial matters of the charity in line with good practice and in accordance with the governing document and legal requirements and report to the board of directors at regular intervals about the financial health of the organisation.

The Treasurer will ensure that effective financial measures, controls and procedures are put in place, and are appropriate for the charity.

Despite the additional responsibility the Treasurer has in overseeing the financial matters of the charity, all directors continue to be jointly and severally responsible, and therefore liable, for the administration of the charity

Liaison with staff responsible for the financial management of the charity An important first step for a Treasurer is to liaise with staff responsible for the financial management of the charity.

The Treasurer and designated staff need to discuss procedures for the day‐to‐day accounting and financial practices to ensure clarity about their roles, responsibilities and communication practices.

As an Officer of the board, the Treasurer has a designated role in overseeing the financial matters of the board and ensuring other directors are adequately informed of financial related issues to ensure good decision‐making.

The Treasurer must find ways to balance their need to have adequate information and involvement to fulfil this responsibility, knowing that that they will not be directly involved in the day‐to‐day operations and recordkeeping.

To this end, the Treasurer should report on the current financial position of the charity at each Board meeting and this should be recorded in the minutes.

The report should include an update on funds received and spent since the last report.

If the Treasurer is unable to attend a committee meeting, a written report should be sent to the Chair at least one or two days before the meeting.

All financial decisions taken should be recorded in the minutes of the meeting.