Finance and Policy (FAPC) Committee Member

Committee overview

The Finance and Policy Committee (“Committee”) holds delegated responsibility for developing the financial strategy of the Association; reviewing income and expenditure; reviewing budget performance; overseeing investment and capital expenditure; approves and reviews investment policy and performance; approves and reviews reserves policy and performance and ensures appropriate insurance policies exist. There will be a maximum of seven committee members, recruited by the Chair, who will be either a BACP member or a lay (non-BACP) member. The committee members will be expected to comply with the prevailing Terms of Reference and will have a single equal vote.

Term of office

Appointments are for a period of up to three years, which may be extended for a further three years.

Time commitment

The Committee shall meet up to four times per year, always prior to a Board meeting; and otherwise as requested. In addition, the committee member is expected to commit such additional time to satisfactorily perform the duties required to sit on a governance committee.

Carrying out the role

The committee member is expected to:

• Attend Committee meetings fully prepared to participate; to ensure key decisions are reached, having read up on information sent out.
• Participate in the Committee’s performance review, and to work with BACP staff to develop the skills set of the Committee.
• Attend BACP events to promote and support the work of the Committee, including the Annual General Meeting: to answer any questions members may have on the Committee’s activities.
• Maintain absolute confidentiality of sensitive/confidential information received whilst a committee member.
• Always act in the best interests of BACP to support its charitable aims and achieve its strategic objectives.
• Observe the code of conduct, policies and procedures as they relate to volunteers.
• Uphold the seven principles which constitute the Charity Governance Code:
  • organisational purpose
  • leadership
  • integrity
  • decision making, risk and control
  • board effectiveness
  • diversity
  • openness and accountability.

Person specification

The committee member will have:

• An accounting or financial degree, or a professional financial/accounting qualification, or an understanding of financial management
• A current member* of BACP; or a lay (non-bacp) member
• An understanding of investments and investment portfolios
• An understanding of central services/operations and HR
• Sound financial and business acumen, applied within a governance environment.
• A willingness to devote time and effort.
• Good, independent judgement.
• An understanding of the responsibilities of their position.

Knowledge and experience of the third sector advantageous but not essential.

*Members currently the subject of investigation, or sanction, through the professional conduct process are ineligible and cannot apply.

Remuneration

There is no remuneration attached to this role, however, reimbursement of reasonable expenses incurred in carrying out the role of committee member will be reimbursed in line with BACP’s Volunteer Expenses Policy. Any other remuneration is subject to Charity Commission guidelines and the approval of the Board of Governors.

For more information relating to the role please contact email governance@bacp.co.uk or telephone 01455 883311.